Articles Posted in exempt

Hot on the heels of his proposal to raise minimum wage for federal contractors to $10.10, President Obama is planning new overtime laws that will force businesses to pay overtime to more workers. The new regulations will make employees who are wrongly classified as “executive” or “professional” eligible for overtime. The President hopes to stop…

Recently, several large financial services firms, including Merrill Lynch, Morgan Stanley and UBS, have paid more than $160 million to settle state and federal overtime lawsuits brought by stockbrokers and financial advisors. The core issues in these cases suggest the risks employers face in classifying employees as “exempt” from federal and/or state minimum wage and…

The United States Department of Labor has issued rules revising the criteria used to determine whether employees may be classified as “exempt” (e.g., salaried) from the minimum wage and overtime pay requirements of the Fair Labor Standards Act (FLSA). These rules went effective August, 2004. The last significant change they made to these rules was…