Law360, New York (May 18, 2016, 8:48 AM EDT) -- The U.S. Department of Labor issued the final version of a much-anticipated overtime exemption rule Wednesday, raising the minimum salary threshold required to qualify for the Fair Labor Standards Act's “white collar” exemption to $47,476 per year.
Labor Secretary Thomas Perez, second from left, and Vice President Joe Biden, center — seen here with other members of the Cabinet in February — are expected to hold a formal event Wednesday in Ohio touting the newly finalized overtime rule. (Credit: AP) The final rule had been proposed in June 2015 and will broaden federal overtime pay regulations to include more than 4...
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