(from NBOA) The Department of Labor (DOL) has announced a proposed update to the salary threshold for the "white collar" exemptions to the Fair Labor Standards Act (FLSA) overtime requirements. Currently set at $35,568 annually, the DOL proposes raising the salary threshold to $55,068 with an automatic update every three years. The update would be tied to the 35th percentile of weekly earnings for full-time salaried workers in the lowest-wage Census Region. The proposal also increases the salary level for the Highly Compensated Exemption (HCE).
This proposal has not been finalized and is open for comment until October 31st. The final rule is anticipated to go into effect 60 days after the comment period ends.
15
years is the target ceiling for a school plant's financial "age."
