U.S. Department of Labor announces change to Fair Labor Standards Act
The U.S. Department of Labor has increased the salary threshold for the Fair Labor Standards Act (FLSA) to $844 per week or $43,888 per year for a full-year worker. Employees whose salaries fall below the new threshold must be paid hourly, report hours worked, and be compensated for overtime pay unless they qualify for a threshold exemption. Only employees with salaries above the threshold may be designated as salaried or “exempt” from overtime pay. The new rules go into effect July 1, 2024. UW–Madison employees who are impacted by this change will be contacted directly and provided with additional information in the coming months.