Searching Pondering Equity-Based Long-Term Incentive Plans on page 183

The large-scale switch from defined benefit plans like pensions to defined contribution plans such as 401(k)s took place at the start of most Gen X employees’ career journeys, meaning the growing pains of that transition largely fell on this generation, said Tyler Bond, the research director at NIRS.

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Currently, the FLSA allows employers to pay a minimum of $2.13 per hour (35 states have higher rates), as long as tips bring that employee’s total compensation to at least the full minimum wage (30 states have rates higher than the $7.25 federal minimum).

Base salary increases were, by far, the most commonly enhanced total rewards (TR) category, with 74% of surveyed employers raising salaries in 2024, compared to less than a third of employers enhancing other compensation or benefit categories — but 4% fewer employers increased base salaries this year.

For WorldatWork Members FLSA Implementation Toolkit , tool;FLSA Research , survey-based research;Multi-State Laws Comparison Tool , tool; The Fair Labor Standards Act (FLSA) in the United States requires all work positions to be classified as nonexempt (overtime eligible) unless an employer actively seeks exempt status (not overtime eligible) and can prove a position meets the exemption criteria.

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