US Department of Labor releases new overtime rule
Recently, the US Department of Labor (DOL) released their final rule, updating the Fair Labor Standards Act (FLSA)’s overtime pay requirements. The rule increases the minimum salary threshold to $43,888 on July 1, 2024, and then to $58,656 on January 1, 2025.
The first increase, effective July 1, updates the minimum salary threshold using the department’s current methodology, which was used in the 2019 update. The second increase, effective January 1, implements the department’s preferred methodology. More information can be found on the DOL’s webpage.
CUPA-HR is hosting a free webinar, “CUPA-HR Washington Update: How the DOL’s Changes to Overtime Rules Will Impact Campus,” on Wednesday, May 8 at 1:00pm Eastern/10:00am Pacific to further discuss these changes and their impact on campus. Register today.
NIRSA’s Government Affairs Committee will continue to monitor the issue.