SIFMA provides comments to the U.S. Department of Labor (DOL) and supports the aim of simplifying the tests for defining exempt employees. SIFMA believes that simplification and greater clarity regarding the contours of the tests benefit both employers and employees by allowing them to more easily determine whether an employee qualifies as exempt. SIFMA also strongly supports DOL’s suggestion that incentive income counts in determining whether an employee received the minimum salary level required to establish exemption status under 29 C.F.R. Part 541.

See also:
DOL Proposed Rulemaking Re: Overtime Pay
Federal Register Volume 80, Number 128 (Monday, July 6, 2015)