Under the new federal rules, if an employee鈥檚 annual salary is below the new minimum salary threshold of $58,656 annually, the employee will be considered non-exempt and, therefore, eligible for overtime and/or compensatory (comp) time.
Employees exempt from overtime and receiving an annual full-time salary under $58,656 will now be considered unclassified and non-exempt.
As a result:
- These employees will become eligible for 1.5 times the hourly rate for all hours worked in excess of 40 hours in a workweek. Sick, vacation and personal time, holiday, and compensatory (comp time) count as hours worked.
- Non-exempt employees will track their hours in the university鈥檚 timekeeping system.
- Their payroll schedule will switch from semi-monthly (twice a month) to bi-weekly (every two weeks), effective January 1, 2025.
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