Author Topic: White Collar Minimum Wage? Depart of Labor/FLSA Wage Test  (Read 885 times)

lithy

  • Stubble
  • **
  • Posts: 178
  • Age: 34
  • Location: Mount Oliver, PA
  • Drink Indigenous
White Collar Minimum Wage? Depart of Labor/FLSA Wage Test
« on: March 16, 2016, 08:35:00 PM »
Just curious if anyone has any more information or insight than what I have been able to find online regarding possible changes to the minimum wage for salaried exempt employees.  DOL proposed an increase, has had a comment period, but now may not issue official changes until late 2016 although they will supposedly be retroactive to the beginning of the year.

I am currently considered an exempt employee in my position.  My current pay is good for me and I like my job, but the initially proposed number of just over 50k/year would be a significant (~25%) salary increase.  Which of course would be awesome and a huge help in many ways toward long term goals.

http://www.wagehourinsights.com/2015/11/new-exemption-rules-may-be-delayed-to-late-2016/

I know much of this would simply be speculation at this point, but I wanted to see if anyone else is thinking about how this could affect their position.  I want to avoid possible tax implications late in the year, which seems impossible.  I also want to be prepared if the owner decides I should instead go back to being an hourly employee or non-exempt salary employee. 

Gin1984

  • Magnum Stache
  • ******
  • Posts: 4747
Re: White Collar Minimum Wage? Depart of Labor/FLSA Wage Test
« Reply #1 on: March 16, 2016, 08:53:31 PM »
I'm wondering how this will effect grad students that are paid $20-30K and often work 60-70hrs a week.