Navigating 2024 Wage Changes: Mastering New Overtime and Minimum Wage Rules!

Recent years have seen ongoing debates over overtime and minimum wage regulations. Significant changes have occurred following new legislation introduced on April 23, 2024, which went into effect on July 1, 2024. These updates to salary thresholds and overtime rules require employers to reassess their approach to managing their exempt workforce. Additionally, several states have enacted updated overtime rules that enhance protections for employees, adding layers of complexity for employers.

In this webinar, industry expert Dayna J. Reum, CPP, will provide an in-depth analysis of the latest federal and state overtime regulations. Participants will gain insights into how to effectively balance these regulations, ensuring accurate overtime calculations and compliance. Key topics will include recent minimum wage changes, legislative updates, and best practices for navigating and managing compliance with these new requirements.

Webinar Objectives

Attending this webinar will equip employers with the knowledge and tools needed to navigate the recent changes in overtime and minimum wage legislation. Participants will gain insights into federal and state requirements, understand the impact of these changes, and learn best practices to handle compliance effectively.

Webinar Agenda

• Minimum Wage
• Legislative Activity
• Federal Overtime Requirements
• Exempt vs. Non-Exempt
• Overtime Concerns
• Regular Rate of Pay
• State Overtime Requirements
• State-by-State Review
• Best Practices

Webinar Highlights

• Comprehensive review of federal and state minimum wage changes.
• Guidance on managing minimum wage for states with higher rates than the federal level.
• Overview of current legislative activity and its implications for employers.
• Detailed review of federal overtime requirements, including:
  • Exempt vs. Non-Exempt classifications
  • Overtime concerns
  • Importance and calculation of the regular rate of pay
• In-depth analysis of state overtime requirements with a state-by-state review.
• Explanation of federal regulation changes and necessary employer actions before the July 1, 2024, implementation date.
• Discussion of the impacts on companies and best practices for handling regulatory changes.

Who Should Attend

Payroll and Tax Professionals