The final rule updates the salary and compensation levels needed for workers to be exempt in the final rule:
• Establishes the standard salary level to $684 per week, equivalent to $35,568 per year for full-time workers. This is an increase from the current enforced level of $455 per week.
• Establishes the total annual compensation requirement for highly compensated employees (HCE) from the currently enforced level of $100,000 to $107,432 per year; and
• Allows employers to use nondiscretionary bonuses and incentive payments, including commissions, that are paid annually to satisfy up to 10% of the standard salary level.
For more information on this issue, please contact SGIA’s Government Affairs Department at email@example.com.