Webinar: The New Overtime Rule - Everything You Need to Know Now

The US Department of Labor (DOL) put out a new rule that raises the minimum annual salary for most overtime-exempt employees from the current level of $35,568 per year.

These increases take place in two stages. First, it increases up to $43,888 and then increases again to $58,656 – for a total increase of about 65%!

The first increase takes effect on July 1, 2024. And the second increase is not too far behind, taking effect on January 1, 2025. You’ll need to act quickly to identify all of your exempt employees who are paid less than these new salary levels and decide whether to:

• Increase their weekly salary to retain their exempt status;
• Reclassify them as nonexempt and pay them overtime for any overtime hours worked; or
• Reclassify them as nonexempt but convert them to hourly employees.

There are pros and cons to each approach.

In this 60-minute webinar, Brightmine’s editorial team help you:

• Learn about what's in the final rule;
• Find out what actions you should take to get ready;
• Learn about how the final rule may affect other HR responsibilities like payroll and pay transparency;
• And more!

Watch the video