Attorneys from across the nation were asked by Law360 to share their opinions on the impact of the recent release by the U.S. Labor Department of the final version of the overtime exemption rule raising the minimum salary threshold to qualify for the Fair Labor Standards Act's white collar exemption. Chicago office attorney Jeremy Glenn, of Cozen O'Connor's Labor & Employment department, provided his thoughts to Law360 on why the new rule is significant. “Although employers have been bracing for the changes since the DOL released its proposed rule last summer, the final rule confirms a more-than-doubling of the salary threshold and promises to raise the salary threshold every three years, with an unpredictable upper limit as predicted by my colleagues in the Wage and Hour Defense Institute," says Jeremy. "In the immediate future, employers have to consider what effect, if any, the Dec. 1, 2016, effective date will have on their standard cycle for awarding salary increases. For those companies that typically make such increases in December, this effective date should not present a problem, but those that make increases at other times of the year might want to reconsider that schedule.”
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