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NSBA is closely tracking overtime rule developments for impacts and effects on small business. RELATED | NEWS | NSBA Signs Letter Opposing Rushed Overtime Regulation Changes Technically, this new new criteria for determining which employees are exempt from receiving overtime pay. Those typically exempt from overtime rules include executive, administrative, professional, and other  developments related to the new overtime rule.

NSBA continues to track overtime rule rulings and updates from the Dept. of Labor. District Court for the Eastern District of Texas struck down the Biden Department of Labor’s (DOL) overtime RELATED | NSBA Tracks Overtime Rule Updates - Read the Latest   Issued earlier this year, the rule adjusted the test used to determine whether a worker should be subject to an exemption to overtime pay requirements The Trump-era DOL overtime rule was upheld by a federal court earlier this year.

Labor officials estimate these latest overtime changes will affect nearly 4 million employees. Contractor Rule Update These latest revisions would entitle millions of workers who are now exempt from overtime Employees below this new level working more than 40 hours in a workweek will remain eligible for overtime Currently, the FLSA requires employers to pay employees minimum wage, and there is an overtime requirement $684 per week, but less than the new proposed standard salary level of $1,059 per week, would receive overtime

With pending judicial review on the rule, the Dept. of Labor must limit the effects of its final overtime UPDATE SPET. 17 | The overtime rule has gone into effect in a number of jurisdictions, with several challenges Please read more at: https://www.dol.gov/agencies/whd/overtime/rulemaking   JUNE 12 | Last week, NSBA Department of Labor (DOL) to stay its final overtime rule. RELATED | NSBA Opposes Latest DOL Overtime Rule Postponing the effective date of the overtime rule while

This month, NSBA joined more than 80 organizations in support of H.R. 7367, the Overtime Pay Flexibility RELATED | NEWS | DOL Proposes New Overtime Rules NSBA has long believed that employers and employees For some context, to comply with DOL’s expected new overtime regulations, employers will be obligated RELATED | NEWS | NSBA Signs Letter Opposing Rushed Overtime Regulation Changes NSBA urges Congress to

The DOL’s last update to the overtime regulations was just three years ago - strongly suggesting there national-level advocacy organizations in signing on as supporters to a letter opposing anticipated overtime With the Department of Labor (DOL) expected to alter overtime regulations under the Fair Labor Standards In Fall 2021, the DOL announced its plan to issue a Notice of Proposed Rulemaking (NPRM) to change overtime For some context, to comply with DOL’s expected new overtime regulations, employers will be obligated

This week, NSBA sent a letter to the Department of Labor (DOL) regarding its proposed changes to overtime RELATED NEWS | DOL Proposes New Overtime Rules These latest revisions would entitle millions of workers who are now exempt from overtime requirements to time and a half pay when they work more than 40 hours Employees below this new level working more than 40 hours in a workweek will remain eligible for overtime

More time is needed to analyze and respond to the proposed changes for overtime pay exemptions. RELATED NEWS | DOL Proposes New Overtime Rules These latest revisions would entitle millions of workers who are now exempt from overtime requirements to time and a half pay when they work more than 40 hours Employees below this new level working more than 40 hours in a workweek will remain eligible for overtime

Changes in overtime exemptions and independent contractor status are on hold. RELATED NEWS | DOL Independent Contractor Rule Update Overtime Pay Rule At the urging of more than 100 For some context, to comply with DOL’s expected new overtime regulations, employers will be obligated RELATED NEWS | NSBA Signs Letter Opposing Rushed Overtime Regulation Changes Follow NSBA as we continue to monitor these NPRMs for independent contractor statuses and overtime regulations, and share your

Federal judge sets aside DOL expanded overtime pay rule . federal judge in Texas became the second to strike down a Biden administration rule that sought to expand overtime

Regulatory Rundown | Nov. 4-18 Federal judge strikes down DOL overtime rule . On Nov. 15, the U.S. District Court for the Eastern District of Texas struck down the Biden Department of Labor’s (DOL) overtime the rule adjusted the test used to determine whether a worker should be subject to an exemption to overtime portion of the test so that workers making less than $58,656 a year would be automatically eligible for overtime

Stay two steps ahead with your small business. Subscribe to receive NSBA’s Real-Time Regulatory Updates. Register here! Regulatory Rundown: Nov. 18-Dec. 2 DOL-EBSA releases informational copies of 2024 benefits plan report/return filings. On Nov. 25, the Department of Labor (DOL) announced  that its Employee Benefits Security Administration (EBSA) released informational copies of the 2024 Form 5500, Form 5500-SF, IRS Form 5500-EZ, IRS Form 5558 and related instructions online . Filers should monitor efast.dol.gov  to learn when official electronic versions are available and able to be filed; plan administrators should not use informational copies to file the Form 5500 Series. DOL Vets’ Employment and Training Service expands Transition Assistance Program . On Nov. 21, DOL announced  that its Veterans’ Employment and Training Service has expanded the Transition Assistance Program, which includes seven new partners and the renewal of eight others in the Employment Navigator and Partnership Program . The Transition Assistance Program seeks to extend employment opportunity for veterans, transitioning service members, and their spouses. DOL releases new research on paid family, medical leave . On Nov. 21, DOL released  Women’s Bureau-commissioned research  finding that a national paid family and medical leave program would be widely beneficial. The research, conducted by the Urban Institute, includes analysis of the impact of state paid leave policies on taxes. Treasury releases report on SSBCI, shows $3.1B in new financing for small business . On Nov. 25, the Treasury Department released  a new report summarizing data from the State Small Business Credit Initiative (SSBCI) from Aug. 2022 through the end of 2023, reflecting $3.1 billion in overall new financing for small businesses. SSBCI provides funds to states, D.C., territories, and Tribal governments to support and expand small-business capital. The full SSBCI annual report is available here .