Overtime Update 2024 Current and Pending Legislation

OVERVIEW

Overtime and minimum wage have been a hot topic for the last several years, legislation almost went into effect in 2017 but was stopped by several states coming forward with legal action. But new legislation was put into effect as of 1/1/2020, are you aware of the changes and are you in compliance with the new exempt requirements? In Aug of 2023 once again we received proposed legislation, if passed do you know what that means and how it will impact you as an employer?

Administrative conversation indicates that new overtime requirements will be coming any day, this webinar will be the most up-to-date based on run date. Many states have also updated their overtime rules that are more generous to employees. This webinar will explain how the balance the federal overtime rules with the state overtime rules. The most up-to-date Overtime requirements and review legislative attempts to ensure employers have the correct overtime calculation.

WHY SHOULD YOU ATTEND?

According to its latest regulatory agenda, the US Department of Labor (DOL) intends to finalize its overtime rule by April 2024. The DOL plans for the rule to become effective 60 days after finalization, a considerably shorter timeframe compared to the 96- to 192-day periods provided for employers in the previous three overtime rules. 

If the DOL adheres to its April deadline without altering the 60-day timeframe, the rule could take effect as early as June 2024.

Participating in the webinar will enhance participants' understanding of both current and forthcoming legislation. We will discuss with participants the process of reviewing their workforce and being prepared for potential changes in case the proposed legislation scheduled for August 2023 is enacted. 

AREAS COVERED

• Federal and State Minimum wage review to include the most up-to-date changes
• Discussion on how companies should handle minimum wage for states with higher rates than federal
• Current legislative activity and what it means to employers
• Review Federal Overtime Requirements
     ‣ Exempt vs. non-exempt
     ‣ Overtime Concerns
     ‣ Regular Rate of Pay why it is important and how to calculate
• State Overtime Requirements
     ‣ State by State Review
• Details of federal regulation changes what are they and when we as employers need to be ready
• Impacts of changes to companies and best practices on how to handle them

TOPIC BACKGROUND

The landscape of labor laws and regulations governing overtime pay is continually evolving, reflecting shifts in workforce dynamics, economic conditions, and societal expectations. In 2024, businesses and employees alike find themselves amidst a pivotal moment as they navigate the intricacies of overtime regulations and impending legislative changes.

The current and Pending Legislation initiative represents a timely and critical exploration of the evolving landscape of overtime regulations, providing stakeholders with valuable insights, actionable strategies, and a forward-looking perspective on the future of work and employment standards.

ABOUT SPEAKER

Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture. Dayna is no stranger to teaching; she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics include Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, international and Canadian payroll.
She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA. Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.