Under new overtime rules issued by the U.S. Department of Labor:
- Effective 1 Jul 2024, most salaried workers who earn less than $844/wk ($43,888/yr) will become eligible for overtime pay
- And on 1 Jan 2025, most salaried workers who make less than $1,128/wk ($58,656/yr) will become eligible for overtime pay.
Then, starting 1 Jul 2027, these earnings thresholds will be updated every 3 yrs (rather than previous 5-9 yrs) to keep pace with changes in worker salaries and be more predictable for employers.
More detail in the DOL news release.