Texas wins court block on Biden overtime rule
What is the new salary threshold proposed by the Biden rule?
The Biden rule proposes to increase the salary threshold for overtime eligibility to $43,888 per year, or $844 per week, effective July 1, 2024. This threshold will further increase to $58,656 per year, or $1,128 per week, on January 1, 2025.
What is the current overtime pay salary threshold?
The current overtime pay salary threshold, as of July 1, 2024, is $844 per week, which is equivalent to an annual salary of $43,888. This threshold is set to increase again on January 1, 2025, to $1,128 per week, or an annual salary of $58,656.
What exemptions exist under federal overtime law?
Under federal overtime law, exemptions exist for certain executive, administrative, and professional (EAP) employees. To qualify for these exemptions, employees must meet specific salary and duties tests, including a minimum salary requirement and primarily performing executive, administrative, or professional duties.