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What Employers Need to Know about New Overtime Exemption Rules with Shelley Jackson
Manage episode 429214114 series 3523228
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"“The Department of Labor estimates that the increased income thresholds for exempt status beginning on July 1, 2024 and January 1, 2025 and adjusting in the future will impact up to 4.3 million workers. That’s why the time is right for employers to scrutinize what this new rule means for their budgets and workforce.”," says chair of Krieg DeVault’s Labor and Employment Practice Shelley Jackson.
Shelley joins Krieg DeVault colleague and host George Lepeniotis to outline the legal risks. “If someone is improperly classified as an exempt worker under one of these standards, but does not actually qualify, it can lead to significant wages, penalties, and attorney fees,” she explains.
Shelley puts the legal landscape into perspective by describing the statutory framework that governs minimum wage and overtime and the three types of employees who are typically exempt.
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