This webinar with Joe Tate was recorded on 5-28-2024.
OVERVIEW In this interactive session we will be exploring the recently communicated changes from the US Department of Labor (DOL) regarding the intent to increase the salary threshold for exemption status under the Fair Labor Standards Act (FLSA). On April 23, 2024 the DOL communicated their ‘Final Rule’ these new projected changes. In this one-hour session we will explore the details of the decision to increase and how this will impact employers of all sizes.
We will cover: Current FLSA requirements under the executive, administrative or professional tests including the salary basis test of $35,568 annual earnings.
Changes to the HCE – Highly Compensated Employees measurement.
Planned dates of changes – July 1, 2024 with increases in the minimum salary test to $43,888 and the HCE to $132,964. January 1, 2025, with increases in the minimum salary test to $58,656 and the HCE to $151,164. In addition, the Final Rule outlines a new three-year rule where compensation will align with the 35th percentile of weekly earnings via census data, to be reviewed and updated July 1, 2027 and every three years afterward.
We will review the federal judge/court opposition and filing that occurred in November of 2016, blocking the DOL’s Final Rule.
This class will be led by Joe Tate SPHR, SHRM SCP.
