On April 23, the U.S. Department of Labor (DOL) released a final rule relating to overtime exemption for employees performing executive, administrative, and professional duties – the so called “white collar” exemptions – under the federal Fair Labor Standards Act. The final rule raises the annual salary that must be paid for an individual to be classified as overtime-exempt from $35,568 to $58,656. The total increase will be implemented in two steps, with the first taking effect on Monday, July 1, and the second on January 1, 2025. This LeadingAge article and this DOL webpage provides additional information, including an FAQ resource.
Home Government News Reminder: Department of Labor Overtime Exemption Rule Raises Salary Threshold on July...