Last week, the U.S. Department of Labor released new rules that increased the white-collar overtime threshold from $455 to $913 per week (or from $23,660 to $47,476 on an annual basis). The announcement of the updated rules implementing the federal Fair Labor Standards Act ended a lengthy process that began in 2014 when President Obama requested the regulations be reviewed to ensure they were consistent with his goal of ensuring workers were paid a fair wage for a hard day’s work…
