FREE WEBINAR:
New Overtime Rule Effective July 1, 2024: What Small Businesses Need to Know
Wednesday, June 5, 2024, 12:00pm EST
After several years of proposed regulations and discussion, the U.S. Department of Labor has issued a new federal overtime rule that is set to take effect July 1, 2024.
Under the new rule, employees who make less than $43,888 on July 1, and then $58,656 on January 1, 2025, will be eligible for overtime pay. The rule applies to the Fair Labor Standards Act’s white collar “executive, administrative and professional” exemptions. The so-called EAP exemptions determine which employees are exempt from overtime-pay requirements under federal law when they work more than 40 hours in a week.
In this webinar, NFIB’s Small Business Legal Center attorneys Beth Milito and Rob Smith will explain the new requirements and what employers need to do to ensure compliance on July 1, 2024.
Topics include:
- General overview of FLSA overtime requirements.
- Factors to consider when deciding whether to convert salaried (exempt) employees to hourly (non-exempt) status.
- Determining what counts as time worked for overtime calculations
- Resources to help with compliance.
Can’t make this webinar? Don’t worry! Register Now – we’ll email you an on-demand version!
Speakers
Elizabeth Milito
Executive Director, Small Business Legal Center
Beth Milito is the Executive Director of NFIB’s Small Business Legal Center. Milito has been with NFIB for 20 years handling legal and regulatory affairs. During her time at NFIB, she has testified before Congress and state legislatures on a broad range of labor issues. Milito is an experienced litigator and educator, having previously worked at the U.S. Department of Veteran Affairs representing hospital management in labor and employment matters in federal agencies and courts.
Holly Wade
Executive Director, NFIB Research Center
Holly Wade is the executive director of research and policy analysis for NFIB, where she conducts original research and studies public policy effects on small businesses. She produces NFIB’s monthly Small Business Economic Trends survey and surveys on topics related to small business operations. Holly is also a member of the Board of Directors of the National Association for Business Economics (NABE). She has undergraduate degrees in Political Science and Sociology from the University of Washington, and a Masters of Public Policy from the University of Denver