The U.S. Department of Labor issued a proposed rule this morning that would expand federal overtime pay regulations to cover nearly 5 million additional employees by raising the minimum salary threshold required to qualify for the Fair Labor Standards Act's "white collar" (professional, administrative, executive, etc.) exemptions from $23,660 to $50,440 per year.

The proposed rule will now be subject to a public comment period, such that the final rule is not expected to be issued until sometime in 2016.

As always, we will continue to keep you posted on new developments in this area.