Understanding the DOL Overtime Threshold for 2023 | |
The U.S. Department of Labor is set to increase the exempt salary threshold weekly, moving it from $684 to $1,059. This translates to a yearly earning requirement of $55,068 for employees to be exempt from overtime pay. The modification encompasses the "duties test" of the Fair Labor Standards Act and provides insights into future overtime thresholds for exempt groups. Employers are urged to use this opportunity to proactively assess and strategize, ensuring effective communication of the impact on employees, making decisions that reduce costs without compromising hours or benefits, and adjusting plans to align with the updated regulations. Staying compliant with the Fair Labor Standards Act is paramount, and employers can navigate these changes by taking informed and preemptive measures. | |
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| Target State: All States Target City : Delaware Last Update : Dec 04, 2023 5:00 AM Number of Views: 68 | Item Owner : Supreme Trainer Contact Email: Contact Phone: +1(315) 367 3577 |
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