On July 1, 2024 the new FLSA Final Overtime Rule  will go into effect. What does this mean for employers who pay salaries to employees? The final rule updates and revises the regulations issued under the Fair Labor Standards Act implementing the exemption from minimum wage and overtime pay requirements for executive, administrative, and professional (EAP) employees. Revisions include increases to the standard salary level and the highly compensated employee total annual compensation threshold, and a mechanism that provides for the timely and efficient updating of these earnings thresholds to reflect current earnings data. Salaried employees making less than the threshold may be eligible for overtime. The amount per week allowed under the salary rules will increase significantly on both July 1, 2024 and January 1, 2025. What does this mean for you as an employer and are you prepared for this change? 

Please join us as we navigate through these mandatory changes to your FLSA compensation requirements.