Beginning July 1, 2024, the new DOL rule increases the salary threshold, making millions of previously exempt employees nonexempt from overtime pay. The new overtime rule increases the FLSA salary threshold to $43,888 annually ($844 per week), up from $35,568 ($684 per week). This ne...
To Be Or Not To Be (Exempt): Complying With the New FLSA Overtime RulesJoshua F. Alloy
Tasked with implementing and enforcing the federal Fair Labor Standards Act (FLSA), the U.S. Department of Labor (DOL)recently announced its final ruleexpanding overtime eligibility by establishing a new weekly salary threshold for exempt employees. Employers must meet these salary thresholds...
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Are you prepared?The new law took effect on July 1, 2024, and raises the overtime salary threshold for non-exempt staff. This means non-profits have to find ways to mitigate the extra costs. Here’s how the My Hours time-tracking app can help....
The salary threshold for an “exempt” employee under the FLSA executive, administrative, or professional exemption is now $648 per week, or $35,568 annually. This is increase to the previous threshold of $455 a week, or $23,660 annually. The “highly compensate employee” exemption also in...
On average, an individuals salary doubles when he or she crosses the 10-year* experience threshold. This salary would translate into $37.83 per hour, or $6,560 per year. After five to nine years experience, you would make $46.24 per hour, or $8,020 per month. ...
Where a corporation has an ownership interest in another corporation, the two corporations are separate for purposes of counting toward the 500-employee threshold unless they arejoint employersunder the FLSA. Separate, unrelated entities may count all employees towards the 500...
The rule also raises the salary threshold for the highly compensated employee exemption. The FLSA requires most employers to pay their employees at least the minimum wage for each hour they work and to provide employees with overtime pay at a rate of one and one-half (“time-and-a-half...
Under both Pennsylvania’s new rules and the federal FLSA, exempt employees must meet the minimum salary threshold as well as perform the duties outlined in the duties test. It bears repeating from previous alerts –employers should consider analyzing the impact of Pennsylvania’s new salary ...