U.S. Department of Labor - Final Rule: Overtime

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UPDATE:  U. S. Department of Labor announced their Final Rule updating overtime regulations effective July 1, 2024.

The Final Rule can be found here: U.S. Department of Labor – Final Rule:  Overtime

 

Key provisions of the Final Rule effective 7/1/2024:

• Raises the “standard salary level” to $844 per week (equivalent to $43,888 per year for a full-year worker).
• Sets the total annual compensation requirement for “highly compensated employees” to $132,964.

 

Key provisions of the Final Rule effective 1/1/2025:

• Raises the “standard salary level” to $1,128 per week (equivalent to $58,656 per year for a full-year worker).
• Sets the total annual compensation requirement for “highly compensated employees” to $151,164.

 

WKU Human Resources’ Plan of Action:

• Identify individuals with a salary below the new salary threshold ($43,888/year).
• Work with Division leaders to adjust applicable positions to non-exempt.
• Communicate individually with affected employees.

 

Trainings:

 

Timekeeping Updates:

• Effective July 1, 2024, all newly designated non-exempt staff members are required to complete a timesheet.  Timesheets and timesheet training can be found here: Timekeeping.

 

 

Resources
For employees moving to non-exempt status on the semi-monthly payroll	Semi-monthly timesheets Employee FAQ Recorded presentations
For Supervisors of employees moving to non-exempt on the semi-monthly payroll	Supervisor FAQ