The World Floor Covering Association (WFCA) will host a special webinar to discuss the Department of Labor's (DOL) salary ruling on management and administrative overtime that is set to take effect on July 1, 2024. Jeff King, special counsel for the WFCA, will lead the discussion on July 1 at 3:00pm ET. 

As of July 1, 2024, the Department of Labor(“DOL”) raised the minimum salary amount for executive, administrative, and professional employees (“Managers and Administrators”) to be exempt from overtime will increase from $684 per week ($35,358 per year) to $844 per week ($43,888 per year). The salary level for highly compensated employees (“HCEs”) will also be raised to increase to $844 per week ($132,964 per year). Moreover, six months later, on January 1, 2025, the salary level will increase to $1,128 per week ($58,656 per year) for EAPs, and to $1,128 per week ($151,164 per year) for HCEs. Thereafter, there will be automatic update of the salary levels every three years. The next update will take place on July 1, 2027.

While a number of lawsuits have been filed challenging the new salary levels, employers should continue to prepare for the new salary with the expectation that the rule will take effect as scheduled on July 1.

A guide to the ruling can be downloaded here. 

To register for the webinar, click here.