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.

UPDATE: New rules over-turned 15 Nov 204 – See our updated microblog post.)