So, what is the new overtime rule and salary threshold? Read on to find out. 2024 New overtime rule The Fair Labor Standards Act (FLSA) is a federal law that establishes overtime pay eligibility, alongside minimum wage, recordkeeping requirements, and child labor laws. Employers must ...
Steven R. Nevolis
Nov 18, 2024 | Client Memo FLSA Salary Basis Threshold Will NOT Increase in January 2025 On Friday, November 15, 2024, a federal judge in Texas invalidated the U.S. Department of Labor’s (DOL) rule raising the minimum salary threshold for the Fair Labor Standards Act’s (FLSA) executive...
The new rule will increase the minimum salary threshold as follows: On these dates, HCE employees paid below these salaries will be eligible for overtime. How Will This Change Impact Non-Profits? Unfortunately, non-profits are not exempt from the new thresholds and must pay overtime according ...
a tip credit that exceeds the Maximum Tip Credit. Additionally, for “service employees,” employers’ ability to claim the tip credit depends on the employees' weekly tip average equaling at least the hourly Tip Threshold and their direct wage plus tips equaling or exceeding t...
minimum salary threshold currently required to satisfy the FLSA’s white collar exemptions, but the increase is significantly less than the increase adopted by theObama Administrationbut struck down in the courts. In addition, the final rule amends the salary-basis test to allow employers to use ...
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. ...
Shockingly, the overtime salary threshold had only been updated once since 1970. Outdated salary levels left many low-pay salary workers working overtime at no additional pay, and in many cases below minimum wage per hours worked. The share of full-time workers qualifying for overtime based on...
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...
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 ...