13
July
Overtime Pay and the Retail Revolution in Brooklyn: How the New “Final Rule” Will Impact The New Retail Sector
*As of January 1, 2020, the FLSA has been updated to increase the minimum salary level for exempt executive, administrative, and professional employees from $455 a week ($23,660 annualized) to $684 per week ($35,568 annualized). Additionally, the total annual compensation required to meet the test for a highly compensated employee, who is exempt from overtime requirements largely on the basis of total compensation paid, has increased from $100,000 to $107,432.*
From DUMBO and Atlantic Avenue’s boutiques to Downtown Brooklyn’s new retail