Minimum Wage and Overtime Update 2024-2025

Recorded Webinar | Dayna Reum | From: Nov 05, 2024 - To: Dec 31, 2024

Training Options & Pricing

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Recording     $199
DVD     $219
Recording + DVD     $369
Transcript (Pdf)     $199
Recording & Transcript (Pdf)     $359
DVD & Transcript (Pdf)     $369


Description

The new overtime rules, recently implemented, represent a significant shift in how overtime pay is calculated and applied across various industries. Both employers and employees must understand these new regulations to navigate the evolving labor landscape effectively.

In this course, we will discuss the changes in the minimum salary requirement for exempt employees to $844 per week. We’ll also dive into overtime pay, a vital aspect of wage law. For non-exempt employees, overtime must be paid 1.5 times the regular rate for hours worked beyond 40 in a workweek. Special considerations apply to tipped employees: overtime must be calculated based on the full minimum wage, not the lower cash wage when using a tip credit. Recent regulatory updates clarify that tip credits only apply to work directly related to tip-producing tasks, ensuring that supportive duties are also appropriately compensated.

Key Topics Covered:-

  • Min Wage
  • Legislative Activity
  • Minimum Wage
  • Legislative Activity
  • Federal Overtime Requirements
  • State Overtime Requirements

Lastly, we’ll explore how state-specific overtime regulations can impact your compliance efforts. While federal law sets the baseline, many states have additional requirements. Join us as we break down these regulations and provide practical insights to help you navigate the evolving landscape of overtime laws effectively.

Learning Objectives:-

  • Review new salary thresholds and exemption criteria for overtime eligibility.
  • Know how to calculate overtime pay, including adjustments for nondiscretionary bonuses and commissions.
  • Discuss overtime regulations for tipped employees and their implications.
  • Differentiate between federal and state-specific overtime requirements and compliance.
  • Apply recent updates to overtime rules in various workplace scenarios.