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Oct 26, 2016 11:00:00 AM

How Does the DOL Overtime Rule Impact My Bank?

$47,476.

According to the Department of Labor (DOL), that’s the minimum full year salary threshold that makes a standard executive, administrative, and professional (EAP) employee exempt from the minimum wage and overtime pay protections of the Fair Labor Standards (FLSA) Act.[1] It comes out to $913 per week. The amount is slightly less than the $970 per week ($50,440 annually) originally proposed, but still more than double the $455 per week salary in place until the FLSA overtime exemption rules for white-collar workers go into effect.

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Topics: Regulations, Overtime Rule, DOL