The U.S. Department of Labor just released new proposed rules regulating who is eligible for overtime pay and it will have employers scrambling to determine how many of their workers will need to be reclassified when new regulations take effect. Currently, the salary threshold for an employee to be exempt from the Fair Labor Standards Act (FLSA) is $455 a week ($23,660 a year). That figure was last revised in 2004. The new proposed rule puts the floor at an estimated $970 a week ($50,440 a year). The regulations propose setting the standard salary level at the 40th percentile of weekly earnings for full-time salaried workers. The DOL estimates that the 2016 level will be approximately $970 per week. Following publication in the Federal Register, the proposed regulations will be up for public comment before the DOL issues final regulations.