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Final Overtime Rules Raise Exempt Salary Threshold 65%

InterWest Insurance Services

Department of Labor has issued a final rule increasing the federal salary threshold for overtime exemptions by 65%, with the full increase starting in 2025. A salaried bona fide executive, administrative or professional employee must earn that amount or more if an employer wants to exempt them from federal overtime requirements.

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Role of Payroll Software in Eliminating Compliance Risks

Qandle

In this blog, well explore how payroll software can help organizations eliminate compliance risks, streamline payroll processes, and provide peace of mind for HR professionals and business owners. 3 Ensures Accurate Overtime and Hour Tracking Accurate tracking of overtime hours is essential for compliance with labor laws.

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DOL Proposes Massive Increase in Overtime Pay Threshold

InterWest Insurance Services

Department of Labor has issued its long-awaited proposed changes to the nation’s overtime rules for American workers, proposing to increase the threshold for exempt status by more than 50% to $55,000. You’ll also have to put in place systems for tracking their hours worked, including overtime.

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Inflation-Fighting Ideas: Round Two

Money Talk

Almost a year ago, in August 2021, I wrote a blog post for the OneOp Personal Finance team about inflation-fighting ideas for military families. Specific ways to increase income include a new job, a promotion, overtime, a second job, and a “side hustle” (freelancing).

Finance 245
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How Timesheet Management Software Supports Adherence to Labor Laws

Qandle

This blog will explore how timesheet management software can help organizations meet labor law regulations, ensuring smooth operations and legal compliance. These laws cover various aspects, including working hours, overtime, breaks, wages, and record-keeping requirements. Looking for the Best Timesheet Management System ?

Software 105
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Why Modern Businesses Need Real-Time Attendance Insights

Bayzat

By reading this blog, you’ll gain insight into the essential benefits of real-time attendance tracking, from ensuring accurate payroll to enhancing overall operational efficiency. Time and attendance systems track all necessary details, ensuring that businesses adhere to regulations regarding work hours, overtime, and required breaks.

Payroll 52
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How to Streamline Your Insurance Policy Audit

InterWest Insurance Services

Also make sure overtime pay is clearly defined since it’s classified as regular pay for workers’ compensation insurance purposes. Ensure that contractors have their own insurance. This is important not only from an audit standpoint, but from a liability perspective as well.