"Upcoming Changes to Overtime Pay Rules: Key Points"

The U.S. Department of Labor will implement new overtime rules starting July 1, 2024, making salaried employees earning $43,888 or less annually eligible for overtime pay. This threshold will increase to $58,656 on January 1, 2025, and will be adjusted every three years thereafter. The changes are expected to make 4 million more workers eligible for overtime, though certain professions and states with higher thresholds are unaffected.