Jeff King presented a very special webinar talking through the new management and administrative overtime rule. As of July 1, 2024, the Department of Labor(“DOL”) raised the minimum salary amount for executive, administrative, and professional employees (“Managers and Administrators”) to be exempt from overtime will increase from $684 per week ($35,358 per year) to $844 per week ($43,888 per year). The salary level for highly compensated employees (“HCEs”) will also be raised to increase to $844 per week ($132,964 per year). Moreover, six months later, on January 1, 2025, the salary level will increase to $1,128 per week ($58,656 per year) for EAPs, and to $1,128 per week ($151,164 per year) for HCEs. Thereafter, there will be automatic update of the salary levels every three years. The next update will take place on July 1, 2027.
Download the detailed PDF of "Management and Administrative Overtime Rule: A Practical Guide"
