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Final Overtime Rules Raise Exempt Salary Threshold 65%

InterWest Insurance Services

After that, the threshold will be increased every three years, starting in 2028. Finally, although business groups have vowed to challenge the final rule in court, companies will need to ramp up their payroll systems to comply with the new rule. 1,128 per week ($58,656 per year) on January 1, 2025.

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No Tax on Overtime: Start Date, States and Bill Status

HR Digest

Payroll taxes, such as Social Security and Medicare, would likely still apply. The bill comes with a sunset clause in 2028. Even if signed into law, payroll systems may need time to adjust so workers might not see changes in paychecks until early 2026. The overtime tax proposal , which is part of a broader $4.5

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The Global Payroll Disruptors Digest: Will Payroll Singularity Change Everything? Let’s Venture Into The Future!

JGA Recruitment

Dear Payroll Innovators, Welcome to the 5th Edition of The Payroll Disruptors Digest ! Fresh off delivering a keynote at CloudPay’s Paymakers 2024 in Athens—an incredible event set against a backdrop of ancient history and mythology (and a much-needed escape from the UK rain) — I shared my vision of payroll in 2030.