New Department of Labor Overtime Rule - Changes to Exempt Salaried Status

Course Description

The Fair Labor Standards Act (FLSA) already presents intricate challenges, and now, the Department of Labor has released a crucial update to its overtime regulations effective June 2024. This update includes an increase in the minimum annual salary to $43,888, followed by another hike to $58,656 on January 1, 2025. This webinar is essential for employers to understand and implement the necessary changes to remain compliant with these new rules. We will cover key adjustments affecting employee classifications, focusing on the new salary thresholds and the impact of transitioning employees from exempt to non-exempt statuses—an adjustment that could drastically increase your overtime liabilities.

Why Should You Attend?

• Stay Ahead of Regulatory Changes: Understand how these significant updates could impact your payroll and legal costs.
• Effective Compliance Review: Equip yourself with the knowledge to conduct an FLSA compliance review efficiently.
• Safeguard Your Organization: Learn the consequences of non-compliance and how to protect your business.
• Navigate with Confidence: Join us to confidently navigate these critical updates and ensure your practices align with the new legal requirements.

Who will Benefit?

• Detailed Breakdown of the Changes: A comprehensive analysis of the FLSA exemption and overtime updates, including the June 2024 and January 2025 salary thresholds.
• New Criteria for Exempt Status: Insights into the adjustments in the Duties Test and Salary Level Test.
• Strategies for Reclassifying Employees: Practical approaches for reclassifying employees in light of the new rules, with a focus on "white-collar" exemptions.
• Changes for Highly Compensated Employees: Examination of the specific adjustments for Highly Compensated Employees under the revised regulations.
• Best Practices for Compliance: Ensuring your employees are correctly classified to comply with the 2024 FLSA overtime regulations.