Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
Author: Scarinci Hollenbeck, LLC
Date: July 8, 2015
The Firm
201-896-4100 info@sh-law.comThe updated overtime rules would significantly modify tests that determine whether executive, administrative, and professional employees (frequently referred to as “white collar workers”) will be entitled to minimum wage and overtime pay protections under the Fair Labor Standards Act (FLSA). Under the current rules, employees generally must meet certain prerequisites regarding their job duties and be paid on a salary basis no less than $455 per week ($23,660 annually).
President Barack Obama signed a Presidential Memorandum in 2014, directing the Department of Labor to update the overtime regulations which define which white-collar workers would be exempt from the requirement for overtime pay for hours worked over 40 in a workweek. In his directive, the President highlighted that the thresholds of the salary test have failed to keep pace with inflation, only being updated twice in the last 40 years. Accordingly, the President argued that many lower-paid, salaried workers should not be exempt from overtime wage requirements.
According to a White House press statement, the proposed changes from the updated overtime rules would extend overtime protections to nearly five million white-collar workers within the first year of its implementation. If the proposed changes become final, employers of all sizes, industries and geographic locations will be impacted.
As proposed in the updated overtime rules, the DOL’s changes to the salary test rules would:
Notably, the DOL did not address the requirements of the current “duties test” (being the second part of the exemption test), which is used to assess whether salaried workers earning more than the threshold salary test are exempt from overtime rules. However, the agency is soliciting suggestions for additional occupation examples as well as comments on the current requirements. Additionally, the DOL has requested comment on the possibility of including nondiscretionary bonuses to satisfy a portion of the standard salary requirement. So additional changes could be on the way.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
In December, the U.S. Securities and Exchange Commission (SEC) announced charges against two privately held companies for failing to file a Form D notice, which is generally utilized for exempt securities offerings. Here, the SEC’s enforcement sends a strong message: compliance with regulatory requirements is not optional and failure to comply can have significant consequences. […]
Author: Kenneth C. Oh
On February 14, 2025, the Office of General Counsel (OGC) of the National Labor Relations Board (NLRB) under Acting General Counsel William B. Cowen issued Memorandum 25-05, “New Process for More Efficient, Effective, Accessible and Transparent Case handling.” The Memorandum rescinds nearly all of the Memoranda issued by his direct predecessor, Jennifer Abruzzo, setting the […]
Author: Matthew F. Mimnaugh
If you purchase real property from a foreign person or entity, you may be required to withhold taxes from your payment to the seller under the Foreign Investment in Real Property Tax Act (FIRPTA). The federal tax law is designed to ensure that foreign sellers pay any applicable capital gains tax on profits realized from […]
Author: Jesse M. Dimitro
Your home is likely your greatest asset, which is why it is so important to adequately protect it. Homeowners insurance protects you from the financial costs of unforeseen losses, such as theft, fire, and natural disasters, by helping you rebuild and replace possessions that were lost While the definition of “adequate” coverage depends upon a […]
Author: Jesse M. Dimitro
Making a non-contingent offer can dramatically increase your chances of securing a real estate transaction, particularly in competitive markets like New York City. However, buyers should understand that waiving contingencies, including those related to financing, or appraisals, also comes with significant risks. Determining your best strategy requires careful analysis of the property, the market, and […]
Author: Jesse M. Dimitro
Business Transactional Attorney Zemel to Spearhead Strategic Initiatives for Continued Growth and Innovation Little Falls, NJ – February 21, 2025 – Scarinci & Hollenbeck, LLC is pleased to announce that Partner Fred D. Zemel has been named Chair of the firm’s Strategic Planning Committee. In this role, Mr. Zemel will lead the committee in identifying, […]
Author: Scarinci Hollenbeck, LLC
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!