New Flsa Overtime Rules 2024. Most importantly, it significantly raises the minimum salary threshold for certain “white collar” workers—executives, professionals, and administrative personnel. This new law changes what qualifies as an exempt employee.
The new rule, which takes effect on july 1, 2024, requires employees to receive a minimum weekly salary of $844 per week (or $43,888 annually) to be properly classified under the executive. Final overtime rule is expected to draw litigation.
The Final Rule Introduces Key Changes:
Workers who are paid a salary, whose earnings exceed the.
Overtime Pay Protections Are Included In The Fair Labor Standards Act (Flsa) To Ensure That Most Workers Who Put In More Than 40 Hours A Week Get Paid 1.5 Times Their Regular Pay For The Extra Hours They Work.
The proposed rule would guarantee overtime pay for most salaried workers earning less than $1,059 per week, about $55,000 per year.
But, This Threshold Is Only One Of Three Requirements Employees Must Meet For Flsa Exemption.
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The Final Rule Introduces Key Changes:
The new rule, which takes effect on july 1, 2024, requires employees to receive a minimum weekly salary of $844 per week (or $43,888 annually) to be properly classified under the executive.
On January 10, 2024, The U.s.
On april 23, the department of labor (dol) issued its final rule to alter the overtime pay regulations under the flsa.
On March 1, The Department Of Labor (Dol)’S Wage And Hour Division (Whd) Sent The Highly Anticipated Final Rule To Update Fair Labor Standards Act (Flsa) Overtime Regulations To The Office Of Information And Regulatory Affairs (Oira) For Review.