DOL Final Overtime Rule: What Payroll Needs to Know

  • June 18, 2024 6:00 PM - 7:00 PM
  • ZOOM Meeting

    Saginaw, Michigan
Ticket Price $15.00-$20.00 Register Now
Description

Please join us on TUESDAY, June 18, 2024 for the next Chapter meeting of the Great Lakes Bay Payroll Professional, via ZOOM. We are having the meeting on a Tuesday, to accommodate the schedule of the speaker. 

Mildred Kress is the Community Outreach & Resource Planning Specialist with the Michigan Department of Labor. She will be speaking on the Final Rule, just in time for July 1st! 

Tickets are $15 per person for members and $20 for non-members. 

The U.S. Department of Labor released a final rule on April 23, 2024, raising the salary threshold to qualify for certain overtime exemptions under federal law. Most importantly, it significantly raises the minimum salary threshold for certain “white collar” workers—executives, professionals, and administrative personnel.

The rule implements a two-part increase to the standard minimum salary level applicable to the overtime exemptions for executive, administrative, and professional (EAP) employees under the Fair Labor Standards Act (FLSA). The first part increases the standard minimum salary level to $844 per week on July 1, 2024. The second part increases the standard minimum salary level to $1,128 per week on January 1, 2025, which represents a nearly 65 percent increase from the current level of $684 per week.

The final rule focuses on three key updates to the earnings thresholds for the EAP exemptions: (1) increasing the standard minimum salary level, (2) increasing the annual salary threshold for HCE employees, and (3) implementing an automatic update to the earnings thresholds every three years.

Date & Time

Tue, Jun 18, 2024 6:00 PM - 7:00 PM

Venue Details

ZOOM Meeting

Saginaw, Michigan ZOOM Meeting
Great Lakes Bay Chapter Payroll Professionals

Great Lakes Bay Payroll Professionals is a local chapter of the PayrollOrg. An avenue to connect with other payroll professionals in your area and share ideas and solutions.