BNA Bloomberg is currently reporting that yesterday word was leaked from a Washington staffer that the DOL white collar salary threshold will be in the $47,000 per year range—as opposed to the $50,440, which has been proposed. The $47,000 range is still almost double the current $23,660 level. Reports have been made by policy advisors that this decrease in the proposed salary cap will decrease the number of individual employees affected from 13.5 million to 12.5 million people.
For more on how to respond to the likely salary increase, check out our previous post here. As we have noted, now is the time to do a full wage and hour audit to determine the effects this change will have on your pay practices. Contact a member of Verrill Dana’s Labor & Employment Practice Group to discuss more.