New York employers are reminded that the hourly minimum wage and wage credits, as well as the minimum weekly salary required for employees to qualify for the professional, executive and administrative exemptions are increasing effective December 31, 2014.
These increases relate to the New York State Labor Law. An additional Alert should be anticipated when the new regulations under the Federal Fair Labor Standards Act are released in 2015. These regulations will likely increase the minimum weekly salary requirement for exempt employees above the current $455.
Employers are also reminded that simply paying a salary does not, alone, render an employee exempt from the minimum wage and overtime law. The exemption will only apply if the employee meets the criteria required for the particular exemption.
|Dougherty, Anthony D. Partner, CFE||Partner, CFE||212.216.8099|
|Drogin, Laurent S. Partner||Partner||212.216.8016|
|Feder, Hagit Senior Compliance Administrator, CFE||Senior Compliance Administrator, CFE||212.216.1109|
|Kleinmann, David N. Partner||Partner||212.216.1115|
|Steer, Richard L. Partner||Partner||212.216.8070|
|Toevs Carolan, Tara Counsel||Counsel||212.216.8007|
|Zagorsky, Arthur Partner||Partner||212.216.8030|