THE BUZZ!
Millions more salaried US workers are set to be eligible for overtime pay starting July 1
There is some very good news for millions of salaried employees. Get ready to punch that overtime ticket because, starting July 1, more salaried workers are about to be in the overtime pay club.
Yep, you heard that right. It’s the largest expansion of federal overtime eligibility in decades.
The acting Secretary of Labor said, “Too often, lower-paid salaried workers are doing the same job as their hourly counterparts but are spending more time away from their families for no additional pay. That is unacceptable.”
So forget missing out on extra dough, because if you’re making less than $43,888 a year in certain roles, overtime pay is coming your way. And guess what? That number’s climbing to $58,656 by 2025.
But wait, if you are one of those higher-salary folks, you get some OT love too. According to the Labor Department, the current $107,432 annual threshold for highly-compensated workers is set to increase to $132,964 on July 1 and $151,164 by the start of 2025.
So you get overtime; you get over time.
Source: AP News
