April 26, 2024
On April 23, 2024, the U.S. Department of Labor (DOL) issued a final rule substantially raising the salary thresholds for certain employees to qualify for overtime exemptions under the federal Fair Labor Standards Act (FLSA).
The FLSA generally requires covered employers to pay employees a minimum wage and, for employees who work more than 40 hours a week, overtime pay of at least 1.5 times an employee’s regular rate. However, the law currently exempts from its overtime requirements those who are employed in “white collar” positions whose duties satisfy the FLSA’s “duties” test applicable to executive, administrative and professional employees, provided that such an individual’s annualized salary is at least $35,568.
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