By ADP

The U.S. Department of Labor (DOL) recently released a final rule that will increase the minimum salary required for administrative, professional and executive employees to be exempt from overtime. The final rule increases the minimum salary requirements first on July 1, 2024 and then again on January 1, 2025. With the first change less than two months away, now is the time to evaluate your options. Here are some guidelines for doing so.

Overview of changes

Effective July 1, 2024, the minimum salary for the administrative, professional and executive exemptions will increase from $684 per week to $844 per week (equivalent to $43,888 per year). 

Effective January 1, 2025, the minimum salary required for these exemptions will increase from $844 per week to $1,128 per week (equivalent to $58,656 per year).

Employers continue to be permitted to use non discretionary bonuses, incentive payments and commissions to satisfy up to 10 percent of the minimum salary requirement for the administrative, professional and executive exemptions, as long as these forms of compensation are paid at least annually.

Note:  Employees must also satisfy certain duties tests to be classified as exempt from overtime. The final rule didn’t change these duties tests.

Two options

If your exempt administrative, professional and executive employees’ salaries fall below the new federal salary requirement, you will generally either have to:

• Raise their salaries to the new requirement (if you elect this option, review employees’ job duties to ensure they continue to qualify for the applicable exemption); or
• Reclassify the affected employees as non-exempt and pay them overtime whenever they work more than 40 hours in a workweek.

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By CD Italia

CD ITALIA is pleased to announce the launch of a significant economic development project specifically related to the Italian Design sector in the Unites States. With the recent establishment of M&M Italian Design, Moreno Modolo, CEO of CD Italia and M&M Italian Design, will merge Italian elegance with American craftsmanship, revolutionizing the furniture landscape. By partnering with top American manufacturers, M&M will offer premium Italian-design pieces, locally crafted in the U.S. – Modolo’s vision will ensure luxury accessibility, with a curated selection combining Italian sophistication and American reliability.

Through a multi-channel distribution network, involving a range of industry operators and ambassadors of Italian design, as well as a new network of franchise distributors, M&M will bring Italian Design to the American Design Society, significantly reducing logistics times and costs from Italy to the USA. The project aims to become an authentic Italian version of the acclaimed French model Roche Bobois.

With almost thirty years of experience in the Italian furniture industry, we are proud to join forces with the productive expertise of American artisans in what we like to call “A strongly Italian-inspired project” made in the USA.

Moreno Modolo, CEO of CD ITALIA since 2015, has been operating in the United States since the year 2000, when he began his professional career within the Italian design production sector. After a rapid career rise, he concluded his executive journey at the helm of Club House Italia with the Fendi and Kenzo Maison brands. From there, he started his entrepreneurial journey, first in Italy with Corte Diamante, a strategic consulting and internationalization company in the furniture sector, and then with CD Italia in Miami. Today, CD Italia represents famous Italian and European furniture brands in the United States, for which Moreno Modolo has opened distribution with over 500 partners across the USA.”