Breaking News: Labor Department announces final overtime rule
04/24/24 at 02:00 AM
Breaking News: Labor Department announces final overtime rule
McKnights Senior Living; by Kimberly Bonvissuto; 4/23/24
The Department of Labor on Tuesday announced a final rule that expands overtime protections to millions of salaried workers beginning this summer. The overtime rule increases the salary thresholds necessary to exempt a salaried executive, administrative or professional employee from federal overtime pay requirements. Effective July 1, the salary threshold will increase to the equivalent of an annual salary of $43,888 and will increase to $58,656 on Jan. 1. The July 1 increase updates the current annual salary threshold of $35,568, which is based on a 2019 overtime rule update.