US Department of Labor Increases Salary Threshold for Exempt Employees
The U.S. Department of Labor (DOL) issued a final rule on April 23, 2024, increasing the minimum salary and compensation thresholds for certain overtime exemptions (the Final Rule) under the Fair Labor Standards Act (FLSA). The Final Rule has a stated effective date of July 1, 2024. The FLSA mandates that employers pay nonexempt employees one-and-a-half times their regular rate for hours worked beyond 40 in a week. However, the law exempts certain employees from receiving overtime.
Read the full Update here.
Wage & Hour Developments
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