DOL Publishes Final Rule to Extend Overtime Pay to Millions of Additional Salaried Workers
The U.S. Department of Labor released its final “Overtime Rule” to extend overtime protections to millions of additional salaried workers. While the final rule has little relevance for unionized construction craftworkers, it may alter whether other employees of SWACCA member companies are eligible for overtime when they work more than 40 hours in a week.
The final rule raises from $684 per week/$35,568 annually to $884 per week/$43,888 annually on July 1, 2024 and from $884 per week/$43,888 annually to $1,128 per week/$58,656 annually beginning on January 1, 2025, the threshold salaried workers must be paid above before their job duties can be assessed to determine if they are overtime exempt executive, administrative, professional, or outside sales employees. The final rule also raises from $107,432 to $132,964 on July 1, 2024 and from $132,964 to $151,164 on January 1, 2025, the annual salary threshold workers must be paid above before they can be treated as “highly compensated employees” who can be deemed exempt executive, administrative, professional, or outside sales employees under a less exacting assessment of their job duties. The final rule also provides a mechanism to automatically increase these thresholds every three years.
A summary of this final rule is available here.
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