Navigating the New Final Overtime Rule and Ban on Non-Competes
Tuesday, June 18, 2024 (12:00 PM - 12:45 PM) (MDT)
Description
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.
When:
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
Cost:
Free for Everyone
About the Speaker:
Wes Benter, Senior Associate: Wes Benter is a labor and employment associate in the Chicago, IL, office of Kirkland & Ellis LLP. Wes has experience advising clients on labor and employment matters in the context of complex transactions, including conducting acquisition-related due diligence and risk assessment, and assisting with restructuring-related labor and employment issues. In addition to his transactional practice, Wes has advised clients on matters concerning compliance with federal, state and local employment laws, including Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act, the Family and Medical Leave Act, the National Labor Relations Act, the Fair Labor Standards Act, and the Worker Adjustment and Retraining Notification Act.
Wes is a graduate of Fordham University School of Law and the S.I. Newhouse School of Public Communications at Syracuse University. Prior to joining Kirkland & Ellis, he worked in television news and creative video production.