Results for: Overtime pay

In a landmark move, the Biden administration has finalized a new rule that will significantly expand overtime eligibility for salaried workers in the United States. Starting July 1, employers will be required to pay overtime to salaried workers earning less than $43,888 annually in certain executive, administrative, and professional roles. This threshold will rise to $58,656 by 2025. The new rule also extends overtime eligibility to some highly compensated workers, with the annual threshold increasing from $107,432 to $151,164 by 2025. The Labor Department estimates that over 4 million lower-paid salaried workers and 292,900 higher-paid workers will become eligible for overtime protections under the new rule.

The Biden administration has finalized a new rule that will significantly expand overtime pay eligibility for salaried workers in the United States. Starting July 1, employers will be required to pay overtime to salaried workers who make less than $43,888 a year in certain executive, administrative, and professional roles. This cap will then rise to $58,656 by the start of 2025. The new rule also expands overtime eligibility for some highly-compensated workers. The Labor Department estimates that 4 million lower-paid salary workers who are exempt under current regulations will become eligible for overtime protections in the first year under the new rule. Critics have argued that the new regulation could saddle companies with new costs, while advocates have applauded the administration’s move as overdue.

The Biden administration has finalized a new rule that will significantly expand overtime pay eligibility for salaried workers in the United States. Starting July 1, employers will be required to pay overtime to salaried workers who earn less than $43,888 a year in certain executive, administrative, and professional roles. That cap will then rise to $58,656 by the start of 2025.