NARI’s Government Affairs Committee reminds business owners that the U.S. Department of Labor’s (DOL) final rule on overtime pay eligibility for salaried employees working more than 40 hours a week goes into effect July 1, 2024.
Under the first phase, the minimum annual salary threshold for full-time workers will be raised from $35,568 to $43,888 per year. Above the new pay threshold, exemptions will remain for executive, administrative and professional (EAP) employees.
The second phase starting Jan. 1, 2025, increases the salary threshold to $58,656 per year.
Learn more on NARI’s Advocacy page.