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Department of Labor and the Fair Labor Standards Act Exempt Salary Threshold Increase

On April 23, 2024, the U.S. Department of Labor (“DOL”) issued its final rule raising the exempt classification minimum salary threshold. The change is effective beginning July 1, 2024. In addition, the salary threshold for highly compensated employees will raise as well. Finally, the rule also sets automatic increases every three years starting in January 2027. The final rule raises the minimum salary threshold to $844 per week, up from $684 per week. The next increase to $1,128 per week would be on January 1, 2025. For highly compensated employees the minimum threshold increases to $132,964 on July 1, 2024, with the next salary increase to $151,164 becoming effective January 1, 2025. Employment attorney Shannon Hamilton takes a look at the rule in this Stites & Harbison Client Alert.

by Shannon Antle Hamilton May 01, 2024
Client Alerts

Governor Beshear Signs Measure to Begin Medical Cannabis Licensing Six Months Ahead of Schedule

On April 17, 2024, Governor Andy Beshear signed House Bill 829 (“HB 829”) into law amending aspects of the Commonwealth’s budding Medical Cannabis Program (“Program”). Among other provisions, HB 829 expedites the licensing process for medical cannabis businesses. Jennifer Cave takes a look at the bill in this Stites & Harbison Client Alert.

by Jennifer J. Cave April 29, 2024
Client Alerts

FTC Issues Final Rule Banning Non-Compete Agreements; Legal Challenges Have Already Begun

On April 23, 2024, the FTC issued its final rule banning employers’ use of non-compete agreements. The rule is broad, applying nationwide and to all non-compete agreements, with a few narrow exceptions. The ban has not gone into effect—it’s scheduled to go into effect 120 days after being published in the Federal Register—and legal challenges have already been filed. Robin McGuffin and Zac Losey take a look at the new rule in this Stites & Harbison Client Alert.

by Robin E. McGuffin and Zachary Losey (Zac) April 25, 2024
Client Alerts

EEOC Issues Final Rule Implementing the Pregnant Workers Fairness Act

The Pregnant Workers Fairness Act (PWFA) was enacted last year with the purpose of protecting pregnant workers from discrimination and providing them with a right to reasonable accommodations in the workplace. On April 15, 2024, the Equal Employment Opportunity Commission (EEOC) published its Final Rule setting forth expansive regulations implementing the law. The Final Rule becomes effective June 18, 2024. Robin McGuffin and Harlee Havens take a look at what this means in this Stites & Harbison Client Alert.

by Robin E. McGuffin and Harlee P. Havens April 24, 2024
Client Alerts

Key Employee Compensation Alternatives

Many companies struggle with how to best compensate and incentivize their key employees. Salary and short-term bonuses alone may not be sufficient. Many key employees seek to be rewarded for their long-term efforts and to share in any increase in value of the company. Andy Jacobs takes a look at the most common means adopted by companies in this Stites & Harbison Client Alert.

by Andrew R. Jacobs April 08, 2024