On November 15, a federal court voided the new overtime rule that was going to increase the FLSA salary threshold to $43,888 annually.
Salary basis exceptions of white-collar workers; Compensation beyond the minimum amount paid as a guaranteed salary. INSETS: Safe Harbor Is a Bit Clearer Than the "Window of Correction";The New FLSA Regs-What's the Bottom Line?.EBSCO_bspPayroll Managers Letter...
Below are a few highlights of where we see it having the greatest impact for nonprofits. Minimum salary threshold increases These thresholds are used in part to determine if an employee is eligible for overtime (non-exempt) or not (exempt). Salary level is just one of three tests in dete...
It is important to remember that other jurisdictions can have higher, stricter, or different wage and hour requirements. For example, some states have a higher salary threshold for the white-collar exemptions than the FLSA’s new $844 per week (July 1, 2024) and $1,128 per week (January ...
Nov 18, 2024 | Blog 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, admi...
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...
The new rule forms part of the Fair Labor Standards Act (FLSA) and stipulates that employees earning a salary that falls under a certain threshold will be entitled to overtime pay. The overtime pay must be at least 1.5X the employee’s usual rate for any hours worked beyond a 40-hour ...
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 non...
When an employee is paid on a salary, for instance, the regular hourly wage rate is found by dividing the total hours worked during the week into the employee’s total earnings. For example, an employee who (before overtime) earns $500 a workweek for 50 hours of work would have a ...
The Department of Labor has released its long awaited rule updating the regulations governing overtime pay for employees. Under the current regulations, the salary threshold for exemption is $455 per week ($23,660 per year) and the new rules will update that exemption level to the 40th percent...