Estate and Succession Planning
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Published: May 9, 2024
(Orlando, FL) In her article “Game-Changing Updates for Workers: Non-competes & Exempt Employee Compensation”, attorney Nicky Mooney reviews recent initiatives predicted to reshape the landscape of employment.
The first half of the article addresses the Federal Trade Commission’s (FTC) announcement a Final Rule which will prohibit most employers from entering into or enforcing non-compete agreements with workers. Nicky writes, “Multiple parties have filed lawsuits in federal district courts challenging the Rule [citing] the FTC lacks the authority to issues Rules that regulate ‘unfair competition’.” The Rule is set to go into effect on September 4, 2024.
The second half of the article addresses the substantial increase to the exempt employee salary threshold, which will increase on July 1 from $35,568 annually to $43,888. The author writes “By making this change the [Department of Labor] DOL aims to ensure a greater number of employees receive fair compensation for their contributions.”
To review the article visit the following link: https://www.deanmead.com/game-changing-updates-for-workers-non-competes-exempt-employee-compensation/.