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UNA - Navigating the New Final Overtime Rule and Ban on Non-Competes

Tuesday, June 18, 2024
12:00 pm1:00 pm

Join UNA and Wes Benter, Labor and Employment Associate at Kirkland & Ellis LLP, for an overview of changes to the federal Fair Labor and Standards Act (FLSA) and the Federal Trade Commission's ruling to ban most employer noncompete clauses. These two rulings will have a significant impact on workers nationwide, and employers should proactively prepare to address the coming changes. We will discuss compliance options for nonprofits and answer your questions about the new rule.

On April 23, the U.S. Department of Labor (DOL) announced new federal overtime rules that significantly impact the salary threshold for certain exempt employees. The threshold will increase to about $44,000 on July 1 and nearly $59,000 by January 1, 2025. This change represents a 65% increase from the current salary threshold and is expected to affect around 4 million workers and require employers to quickly adjust their pay practices. The DOL stated that the new rule will expand overtime protections “to lower-paid salaried workers” by ensuring that they will receive “fair pay for long hours,” but it will have a significant impact on the nonprofit sector.

We will also discuss the Federal Trade Commission’s (FTC) new final rule, effective September 4, which imposes a national ban on all employers from using non-compete clauses in contracts with all workers at any level, except for existing agreements with certain senior executives and non-competes entered into in connection with a bona fide sale of a business. The FTC believes that banning noncompete clauses will protect workers' freedom to change jobs, foster innovation and encourage new business formation. They argue that such clauses keep wages low, stifle new ideas and hinder economic dynamism.

June 18, 12:00 PM - 12:45 PM (MT)

Who Should Attend:
Chief Executives, Executive Directors, Human Resources Managers, Operations Directors, or anyone interested in learning about the new labor regulations

Free for Everyone