Greetings,

Hopefully by now you have heard about the soon-to-be-implemented new federal overtime rules for exempt/salaried employees.

The current minimum salary for exempt (non-hourly) employees is $35,568. Effective July 1, 2024, that minimum salary increases to $43,888. And, effective January 1, 2025, the minimum salary for exempt (non-hourly) employees increases to $58,656. Beginning July 1, 2027, and every three years thereafter, the minimum salary for exempt (non-hourly) employees will automatically increase by a dollar amount still to be determined.

While the National Federation of Independent Businesses (NFIB) does have a lawsuit pending against the Department of Labor to stop this federal regulation, it is critical for you to prepare as if the regulation will take effect on July 1^st.  

Below is a link to the recent 68-minute FREE webinar moderated by the NFIB. I listened to it, and it is VERY informative. I strongly encourage those of you that need to prepare for this new federal regulation to watch the webinar, and then, if needed, contact a qualified human resources professional or labor law attorney to ensure compliance.

Please contact the chamber office at 301-739-2015, ext. 100, should you need one of our members to assist you.

Sincerely,

Paul

Download Slides (New Overtime Rule)

Additional Resources: 

DOL Fact Sheet - Seasonal Amusement Workers

DOL Fact Sheet - EAP Duties

DOL Information on Seasonal Ag Workers

DOL Fact Sheet EAP Salary Basis

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