05/20/2024

Special Bulletin! Department of Labor’s Overtime Rule is Final on April 23, 2024

OKFDA wanted to make you aware of the recent changes to the Department of Labor's Overtime Rule. 

Overtime changes start in sixty days, July 1.

In March, I made a presentation to the Oklahoma Funeral Directors Association about the Overtime changes. On April 23, I made a similar presentation to the Nebraska Funeral Directors Association.

Later that same day, April 23, 2024, the Department of Labor released the much anticipated changes about Overtime.

Currently (April, 2024) salaried workers who make less than $35,568 are eligible for overtime.

Starting July 1, 2024 (60 days from now) salaried workers who make less than $43,888 are eligible for overtime. This adjustment only lasts for six months.

Starting January 1, 2025 (7 months from now) salaried workers who make less than $58,656 are eligible for overtime.

The overtime requirement does not apply to any employee who primarily performs executive, administrative or professional (EAP) duties. (Remember our discussion… Colorado?). My view is that licensed funeral home professionals would qualify for EAP.

The overtime rules also exempt highly compensated employees (HEP) from overtime. Currently, the HEP starts at $107,432, but increases on July 1, 2024 to $132,964. The HEP increases again on January 1, 2024 to $151,164. The effect is that highly paid employees will be eligible for overtime unless they make more than $151,000.

Your state association is working diligently to keep you apprised of all the changes in the workplace.

 

Note:  You can find the Department of Labor’s release at:  https://blog.dol.gov/2024/04/23/what-the-new-overtime-rule-means-for-workers

 

About the author

Professor Marty Ludlum teaches business law at the University of Central Oklahoma and is a licensed attorney. He has made numerous presentations on the funeral industry at state and national conventions and has authored many articles for national and state funeral magazines. Professor Ludlum has a bachelor’s and master’s degree in economics, a master’s degree in communication and a Juris Doctor, all from the University of Oklahoma. Professor Ludlum also serves as the Education Director for Osiris Funeral Home Software and InSight Books. For questions, he can be reached at LudlumLawFirm@gmail.com.