New Overtime Rules
On April 23, 2024, the U.S. Department of Labor (DOL) published its final rule amending the overtime regulations under the Fair Labor Standards Act (FLSA).
The new rule increases the salary threshold for workers to qualify for exemption from overtime and requires employers to comply with the new final rule by July 1, 2024 and contains two built in increases in the minimum salaries. Increases in the salary thresholds every three years beginning July 1, 2027.
The DOL is estimating that 4 million workers will be impacted by the new rule and become eligible for overtime.
What the New Overtime Rule Means for Workers | U.S. Department of Labor Blog (dol.gov)
For questions surrounding your employees or employment law, contact a Buckley Fine attorney today at 847-381-0011 or email us at attorneys@buckleyfinelaw.com.