Hans Riede Quoted in Law360 Story About Wage and Hour Cases to Watch in Coming Months
Hans Riede, Quarles & Brady’s Washington, D.C., office co-managing partner and office chair of the Labor & Employment Practice Group, was quoted in a Law360 article looking at key wage and hour cases that will play out over the balance of 2024.
Riede provided insight about the pending challenges to the new overtime exempt salary threshold under the Department of Labor’s Fair Labor Standards Act. An excerpt:
The final rule calls for increasing the threshold for exempt employees to an equivalent annual salary of $43,888 on July 1 and $58,656 on Jan. 1, 2025. Every three years from July 2027 onward the salary level will get automatically updated.
Previously, the salary level is $684 a week, which totals $35,568 a year.
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Employers, including private employers in Texas, should comply with the July 1 increase and prepare for the January 2025 increase, said Hans Riede, partner with management-side firm Quarles & Brady LLP and Washington, D.C., chair of the labor and employment group. The worst outcome is a happier workforce, he said.
"I understand that it's also business costs, and there's a more macro issue, but if you can find the money and you can do it, then just go ahead and comply now," he said.