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Starting July 1, employers of all sizes will be required pay overtime — time and a half salary after 40 hours a week — to salaried workers who make less than $43,888 a year in certain ...
In its first year, the rule is expected to result in an income transfer of about $1.5 billion from employers to workers, mainly from new overtime premiums or from pay raises to maintain the exempt ...
But many salaried workers are exempt from that requirement — unless they earn below a certain level. The new rule also expands overtime eligibility for some highly-compensated workers. According to a Labor Department FAQ , the current $107,432 annual threshold for highly-compensated workers is set to increase to $132,964 on July 1 and ...
But since 1975—when more than 60% of salaried workers qualified for overtime, according to an analysis by the Economic Policy Institute—those levels have been updated far less frequently.
For example, non-exempt workers must receive at least one and one half times their normal hourly wage for every hour worked beyond 40 hours in a work week. For example, workers who clock 48 hours in one week would receive the pay equivalent to 52 hours of work (40 hours + 8 hours at 1.5 times the normal hourly wage).
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.
Overtime rate is a calculation of hours worked by a worker that exceed those hours defined for a standard workweek. This rate can have different meanings in different countries and jurisdictions, depending on how that jurisdiction's labor law defines overtime. In many jurisdictions, additional pay is mandated for certain classes of workers when ...
Just because you're salaried doesn't mean you're automatically exempt from overtime. Most employees are entitled to be paid overtime (1.5 times your regular hourly rate) under the Fair Labor ...
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