The new overtime final rule will become effective on December 1, 2016, giving employers more than six months to prepare. The final rule does not make any changes to the duties test for executive, administrative and professional employees, but does:

• Raise the salary threshold indicating eligibility from $455/week to $913 ($47,476 per year), ensuring protections to 4.2 million workers.
• Automatically update the salary threshold every three years, based on wage growth over time, increasing predictability.
• Strengthen overtime protections for salaried workers already entitled to overtime.
• Provide greater clarity for workers and employers.

Cited from: https://www.dol.gov/featured/overtime

FAQ: https://www.dol.gov/whd/overtime/final2016/faq.htm

Fact Sheet #17A: Exemption for Executive, Administrative, Professional, Computer & Outside Sales Employees Under the Fair Labor Standards Act (FLSA):
https://www.dol.gov/whd/overtime/fs17a_overview.pdf