DOL Issues Final Overtime Rule
Published May 14, 2024
By AACOM Government Relations
Advocacy Federal Policy OME Advocate
- On April 23, 2024, the U.S. Department of Labor (DOL) issued its final rule redefining worker overtime pay eligibility under the Fair Labor Standards Act.
- Effective July 1, 2024, the salary threshold to be exempt from overtime pay increases to an annual salary of $43,888 and on January 1, 2025, that threshold increases to $58,656.
- AACOM’s coalition partner, American Council on Education, prepared a summary on the impact to institutions of higher education.