It’s been a busy week in Washington, D.C., with significant developments impacting the deathcare profession. The United States Department of Labor came out with an update regarding overtime payment requirements that may affect our member’s business operations.
On April 23, the Department of Labor finalized a new overtime standard, part of ongoing efforts by the Biden Administration to expand eligibility for overtime pay. This action follows similar efforts by previous administrations, highlighting the evolving nature of federal regulatory standards.
Key details of the new overtime standard are as follows:
- Increased Salary Thresholds: Effective July 1, 2024, employees earning up to $43,888 per year and working more than 40 hours per week will be eligible for overtime pay at a rate of time-and-a-half. This threshold will rise to $58,656 per year starting January 1, 2025. It represents an increase from the previous threshold set by the Trump Administration, which was $35,568 per year.
- Exemption Criteria: Under the Fair Labor Standards Act, workers are exempt from hourly overtime requirements if they are salaried, earn above a certain amount, and work in a “bona fide executive, administrative, or professional capacity.”
Expect court challenges to this rule, which could delay its implementation.
We understand that regulatory changes can pose business challenges, and we are here to support you during this transition. Please get in touch with us if you have any questions or need assistance navigating these changes.
Thank you for your attention to this critical update. We will keep you informed of any further developments related to this issue.
