Judge rejects Elon Musk’s $56B pay package despite shareholder vote
Even without the controversial compensation deal—the highest CEO pay package in history—Musk remained the world’s richest person after Monday’s decision.
Compensation
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Government finalizes rule to grant overtime to millions more salaried workers
The move marks the largest expansion in federal overtime eligibility seen in decades. Critics said the regulation could saddle companies with new costs and add to persistent labor challenges.
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Attorneys, businesses await impact of proposed rule to extend OT to more salaried workers
It’s been more than six months since the U.S. Department of Labor announced a proposed new rule to the Fair Labor Standards Act that would extend overtime pay to 3.6 million salaried workers. Whenever the final rule is published, it’s expected to spur immediate legal challenges.
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IPS board approves new teacher contract with average 3% raises
The contract, which Indianapolis Education Association members voted to ratify last month, bumps starting pay in the district from $50,400 to $51,900 in 2023-24, and raises it again in 2024-25.
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Honda to give autoworkers 11% raise following UAW’s labor victories
Employees at Honda’s Indiana Auto Plant in Greensburg are among those who will qualify for raises.
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Articles
Campaign pledges to raise teacher pay face uncertain future at Statehouse
Raising base salaries for teachers was a key focus of Gov.-elect Mike Braun’s platform during the governor’s race, but anxiety about the state budget might be a roadblock.
Judge blocks new Labor Department rule to expand overtime pay for millions
Trade groups argued the move would harm businesses and lead to costs that would potentially force employers to cut jobs or limit their workers’ hours.
Lawrence Township teachers and administrators to receive raises
The Metropolitan School District of Lawrence Township will lift pay for its roughly 1,000 teachers and its administrators.
Indiana’s annual average teacher pay tops $60K, new report says
Nearly all—98%—of Hoosier school districts gave teachers a raise last year, benefitting about 92% of educators statewide, the report indicated.
By city’s own standards, pay rate fails to measure up
Across Indianapolis city-county government, 166 employees earn less than $18 an hour, the benchmark that some groups consider a living wage, including the city’s economic development arm.
CEO pay at public companies unexpectedly fell in 2023
Trends in CEO compensation generally mirror those of the stock market, in part because pay packages for chief executives have largely been tethered to stock performance for five decades.
Carmel City Council mulls salary increases for mayor, other officials
The Carmel City Council on Monday night heard an introduction of an ordinance that would provide raises in 2025 for the city’s mayor, judge, clerk and council members.
NCAA’s $2.78B settlement with colleges over athlete payments gets preliminary approval
U.S. District Judge Claudia Wilken released an order setting a timeline for a deal that would put millions of dollars into the pockets of college athletes.
Council OKs revised elected-official pay, ethics disclosure ordinances
The Indianapolis City-County Council on Monday evening voted to approve two tweaked proposals: one that increases long-stagnant countywide elected official pay and the other requiring councilors to fill out more in-depth, publicly available disclosure forms.
Amazon boosts warehouse worker pay by at least $1.50 an hour
Employees will start receiving Prime, Amazon’s speedy shipping and video subscription service, as part of their compensation beginning early next year, the company said.
Mayor Joe Hogsett says he will veto pay-raise proposal if council passes it
City-County Council President Vop Osili has authored a proposal to elevate the Indianapolis mayor’s annual salary by 31%, as well as increase salaries for seven other elected positions.
‘No tax on tips’ plans from Trump, Harris won’t do much for many tipped workers
Eliminating federal taxes on tips has suddenly emerged as just about the only idea that former president Donald Trump and Vice President Kamala Harris agree on—but experts say the proposal won’t have a big impact for most workers.
Former college baseball player sues NCAA, power conferences over scholarship limits
The federal antitrust cases was filed this week by former TCU baseball player Riley Cornelio and seeks class-action status for college baseball and hockey players.
Tips for workers seeing a raise—and for managers considering the request
Information is the key to a confident and successful negotiation for both sides, experts say.
Paychecks grew more slowly in second quarter, Labor Department says
Higher wages and benefits are good for employees, but slower pay growth will likely reassure Federal Reserve officials that inflation is steadily falling back to their 2% target.
Appeals court says some NCAA athletes might qualify as employees under federal wage laws
The court, in the latest challenge to the Indianapolis-based NCAA’s long-held notion of “amateurism” in college sports, said a test should be developed to differentiate between students who play college sports for fun and those whose effort “crosses the legal line into work.”
Waffle House raises worker pay after strikes, pressure from labor organizers
Waffle House CEO Joe Rogers III said wage increases will be paid for by higher menu prices. There are more than a dozen Waffle House locations in Indianapolis and surrounding communities.
CEOs at public companies got hefty pay raises in 2023
The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets.
U.S. worker paycheck growth slowed late last year, which could cool inflation
Pay and benefits for America’s workers grew in the final three months of last year at the slowest pace in two and a half years, a trend that could affect the Federal Reserve’s decision about when to begin cutting interest rates.