On December 27, 2023, and just in time for the 2024 ball to drop, the New York State Department of Labor (NYSDOL) finalized the salary thresholds for exempt employees that were proposed as a part of Minimum Wage Order Updates in October 2023. Similarly, New York passed Senate Bill S5572 in September 2023, increasing the salary thresholds for exempt employees under Article 6 of the New York Labor Law.
As a reminder, the classification of exempt or non-exempt is particularly important for determining which employees are (1) exempt from the overtime laws, meaning that such employees are ...
Under the Federal Fair Labor Standards Act (and state wage hour laws) certain hourly paid employees must be paid time and one-half their regular rate of pay for all hours worked over 40 in a regular work week.
But certain employees (for example many general managers and lead managers) are exempt from this requirement if they satisfy three qualifications imposed by federal regulations:
- The employee must be paid a predetermined and fixed salary that is not subject to reduction because of variations in the quality or quantity of work performed;
- the amount of salary paid must be at least $455 ...
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