US Overtime Pay Rule Now in Effect
July 11, 2024
In the United States, the Department of Labor’s (DOL) final rule altering overtime regulations under the Fair Labor Standards Act has now come into effect. As it currently stands, the DOL’s rule establishes two-tiered increases to the minimum salary threshold and the threshold for highly compensated employees (HCE), as well as automatic updates to both thresholds. By January 1, 2025, the minimum salary threshold for covered salaried employees to be exempt from overtime requirements will rise from US$35,568 to $58,656 per year.
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