On September 24, 2019 the DOL announced the final overtime rules. Effective January 1, 2020 the annualized salary requirement to be classified as an exempt salary employee will change to $35,568. This is an increase from $23,660. The annualized salary requirement for exempt salary classification has not been changed since 2004.
Employers who have employees who are coded as exempt salary and are earning less than $35,568 annually by January 1, 2020 must either change their salary to the new annualized amount or change their Fair Labor and Standard Act (FLSA) classification to non-exempt, making them overtime eligible.
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