New Overtime Rule Effective July 1, 2024: What Small Businesses Need to Know!
Speaker: Dayna J Reum
Speaker Designation: Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of Chicago
Speaker: Dayna J Reum
Speaker Designation: Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of Chicago
The U.S. Department of Labor has announced a new federal overtime rule that will come into effect on July 1, 2024.
Under this rule, employees earning below $43,888 as of July 1, 2024, and subsequently below $58,656 starting January 1, 2025, will qualify for overtime pay. The rule specifically pertains to the Fair Labor Standards Act’s exemptions for white-collar positions categorized as "executive, administrative, and professional." These exemptions determine which employees are not entitled to overtime compensation under federal law when they exceed 40 hours of work in a week.
Employers must attend this webinar to grasp and execute the required adjustments to ensure compliance with these updated regulations.
The landscape of labor laws and regulations governing overtime pay is continually evolving, reflecting shifts in workforce dynamics, economic conditions, and societal expectations. Attending this webinar will equip you with the knowledge and tools necessary to navigate and comply with the new overtime rule effectively, ensuring your small business remains competitive and legally compliant.
The new overtime rule effective July 1, 2024, presents both challenges and opportunities for small businesses. By proactively addressing these changes and ensuring compliance, small business owners can not only avoid legal pitfalls but also create a fair and equitable workplace that benefits both the employer and employees.
Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years. She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service acquisitions, and divestiture.
Dayna is no stranger to teaching; she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics include Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, and international and Canadian payroll.
She also serves on the National American Payroll Association the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA. Dayna is also a CPP (Certified Payroll Professional) through the APA certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.
