- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
DOL - Fair Labors Standards Act Pertaining to Salary/ Hourly Wages
Posted on 6/10/24 at 11:12 am
Posted on 6/10/24 at 11:12 am
Final Rule: Restoring and Extending Overtime Protections
Exempt Employees Must Meet Both Salary & Duties Tests
"Under the overtime regulations effective July 1, 2024, the annual salary threshold for exempt positions is $43,880 (or $844 per week). Effective Jan. 1, 2025, the annual salary threshold for exempt positions is $58,656 (or $1,128 a week). In addition, a duties test is used to determine whether employees earning at least the salary threshold must be classified as nonexempt from overtime, including the tests for meeting the executive, administrative and professional exemptions. Starting July 1, 2027, the DOL will automatically increase the overtime threshold every three years."
Exempt Employees Must Meet Both Salary & Duties Tests
"Under the overtime regulations effective July 1, 2024, the annual salary threshold for exempt positions is $43,880 (or $844 per week). Effective Jan. 1, 2025, the annual salary threshold for exempt positions is $58,656 (or $1,128 a week). In addition, a duties test is used to determine whether employees earning at least the salary threshold must be classified as nonexempt from overtime, including the tests for meeting the executive, administrative and professional exemptions. Starting July 1, 2027, the DOL will automatically increase the overtime threshold every three years."
This post was edited on 6/10/24 at 11:16 am
4
Posted on 6/10/24 at 11:19 am to lsugerberbaby
When I started working after college around 2007, I believe I was making the minimum exempt salary, which was about $35,000. I don’t know if I’m more upset about how old I am, or how bad inflation has become.
Posted on 6/10/24 at 11:23 am to lsugerberbaby
As someone who constantly is in the middle of battles between executive admin and genz kids who don't want to work a second over 39.9 hours; whether or not their responsibilities are complete; I don't mind this at all honestly. Still about 5-10k too low to change anything for us though.
We have already started leaving people hourly that would have been salary in past times. Historically based on the payrates, they make less this way in my experience, but they feel less "screwed" or whatever kids call working these days.
We have already started leaving people hourly that would have been salary in past times. Historically based on the payrates, they make less this way in my experience, but they feel less "screwed" or whatever kids call working these days.
This post was edited on 6/10/24 at 12:33 pm
Posted on 6/10/24 at 11:30 am to lsugerberbaby
I'm paid hourly.
I'm in sales. Base rate $19k/yr plus commissions (well over 6 figures).
It blows my mind that they don't exempt me. I make about $10k a year in overtime (overtime is paid on an overly complicated hourly calculation including my commissions).
I'm in sales. Base rate $19k/yr plus commissions (well over 6 figures).
It blows my mind that they don't exempt me. I make about $10k a year in overtime (overtime is paid on an overly complicated hourly calculation including my commissions).
This post was edited on 6/10/24 at 11:31 am
Posted on 6/10/24 at 5:25 pm to lsugerberbaby
$58k Jan 1 2025 is going to be a major fricking change for a lot of companies for a lot of people. That's crazy.
The issue here is that you could work 36 hours a week for 90% of the year and then be owed OT for a "busy" time, projects, etc when someone is over 40.
There's tons of hospitality and retail jobs that have employees that are making under $58k a year, lets say a 22 year old fast food manager for instance.
The issue here is that you could work 36 hours a week for 90% of the year and then be owed OT for a "busy" time, projects, etc when someone is over 40.
There's tons of hospitality and retail jobs that have employees that are making under $58k a year, lets say a 22 year old fast food manager for instance.
Posted on 6/11/24 at 9:11 am to baldona
About to be mandatory lunches and more clocking watching than I care to do.
Posted on 6/11/24 at 9:17 am to baldona
I'm waiting g to see how they will handle thid in our restaurants. I imagine bonuses will disappear for awhile
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News