The DOL released proposed changes to the Exempt Status wage test recently. The current regulations state an employee must pass the Salary and Duties tests to be considered an exempt employee. The salary basis test today requires the base salary of an employee to be at least $23,600. The proposed changes for the salary basis test are to raise that amount to $50,440. That is a 113% increase that will more than likely be effective 1-1-2016.
Other proposed changes include increasing the HCE salary levels, determining if non-discretionary bonuses should be included in calculating the standard salary, and provisional changes to the Executive, Administrative and Professional workers classifications. The increase to the salary test also will include annual automatic increases based on the Consumer Price Index.
The DOL is accepting comments through September 4, 2015, all employers are encouraged to share their opinions about these proposed changes here.
Important Date:
August 1, 2015 - Minnesota increased minimum wage to $9.00 for large employers and $7.25 for small employers.
Contact Us:
If you have questions regarding the information provided in this post, you can contact us at 800-880-4015, or email us at info@abg-mn.com.
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