Preparing for Imminent DOL Rules

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This blog was originally published for SHRM’s SHRM Blog.

We have heard it before. The proposed regulatory changes to the white collar exemption are “imminent.” And, then they were delayed.

Well, the regulations were sent by the DOL to the OMB. The conventional wisdom is that they will be published on June 18, 2015 (I suspect so the DOL can say “Spring”).

We know the purpose and effect of the proposed regulations will be to increase the number of individuals who are non-exempt. At a minimum, exempt status will carry a heavier price tag.

The federal minimum weekly salary is going up—the only question is how high. My prediction: $1,000 per week. My last prediction: 2009 would be good year for stocks.

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