Unpacking the New Final Overtime Rule: What Employers Need to …

Sep 12, 2024 · Conclusion: Navigating the New Overtime Rule with Confidence. The new final overtime rule represents a significant shift in how businesses must approach employee …

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New Overtime Exemption Rule: 5 Key Facts You Need To Know

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Apr 29, 2024 · Note: The new final rule increases this amount to $844 per week on July 1, 2024. Learn more under fact #2 below. With very limited exceptions, the employer must pay the …

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FAQs about Unpacking the New Final Overtime Rule: What Employers Need to … Coupon?

How will changes to overtime rules affect your business?

Changes to overtime rules under the Fair Labor Standards Act (FLSA) announced on April 23, 2024 affect most U.S. employers. The Final Rule substantially increases the number of employees eligible for overtime pay. It is critical that employers understand the rule and its implications for their business. ...

How does the final rule affect overtime pay?

The Final Rule substantially increases the number of employees eligible for overtime pay. It is critical that employers understand the rule and its implications for their business. The FLSA requires employers to pay overtime pay of at least 1.5 times an employee’s standard pay rate for hours worked in excess of 40 hours per week. ...

What is the new overtime rule for white-collar exemptions?

In April 2024, we shared the U.S. Department of Labor’s (DOL) announcement of a new overtime rule under the Fair Labor Standards Act (FLSA), setting higher salary thresholds for white-collar exemptions, which first took effect on July 1, 2024. ...

What does the new FLSA overtime rule mean for salaried workers?

The department’s final rule, which will go into effect on July 1, 2024, will increase the standard salary level that helps define and delimit which salaried workers are entitled to overtime pay protections under the FLSA. ...

What are the key facts about the new overtime rule?

Here are five key facts about the new rule. #1: The final rule affects exemptions from overtime for administrative, professional, executive and highly compensated employees. ...

Do federal overtime rules change the exempt salary threshold?

In recent years, the DOL’s new rules changing the exempt salary threshold have become known as “federal overtime rules” — but you should note that they do not actually change current overtime laws or implement new ones. Rather, the DOL’s objective is to increase the number of employees eligible for overtime. ...