Under the new federal rules, if an employee’s annual salary is below the new minimum salary threshold of $43,888 annually, the employee will be considered non-exempt and therefore eligible for overtime and/or compensatory (comp) time.
Employees who are presently exempt from overtime and receive an annual full-time salary under $43,888 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 count as hours worked.
- Non-exempt employees will track their hours in the university’s timekeeping system.
- Their payroll schedule will switch from semi-monthly (two times a month) to bi-weekly (every two weeks) effective June 23, 2024.
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