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As of July 1, 2024, hourly workers making the equivalent of $43,888 a year are eligible for overtime pay, up from $35,568, which will increase to $58,656 on Jan. 1, 2025.
The new rule raises the salary threshold under which salaried employees are eligible for overtime in two stages. The threshold will increase to the equivalent of an annual salary of $43,888, or ...
The current salary threshold of about $35,500 per year was set ... The U.S. Department of Labor rule will require employers to pay overtime premiums to workers who earn a salary of less than ...
The pension compensation nondiscrimination laws (Internal Revenue Code Section 401(a)(4)) require that qualified pension plans not discriminate in benefits, rights and features in favor of highly compensated employees (in 2007, the threshold is $100K of 2006 gross pay including bonuses and overtime).
Some 3.6 million salaried workers would newly qualify for overtime pay under a proposed rule unveiled by the US Department of Labor on Wednesday. It would guarantee overtime pay of at least time ...
Department of Labor poster notifying employees of rights under the Fair Labor Standards Act. The Fair Labor Standards Act of 1938 29 U.S.C. § 203 [1] (FLSA) is a United States labor law that creates the right to a minimum wage, and "time-and-a-half" overtime pay when people work over forty hours a week.
Now, under the new rules, if someone works over 40 hours per week, does the same certain type of administrative, managerial or professional work and earns a salary less than $47,476, he or she is now entitled to overtime pay under the new federal rules. The final overtime rule goes into effect on December 1, 2016. [16]
A federal judge in Texas on Friday permanently blocked a Biden administration rule that would have made about 4 million more salaried U.S. workers eligible for overtime pay. U.S. District Judge ...