U.S. Dept of Labor Issues Final Rule to Raise Minimum Salary Amount Employers Must Pay to Avoid Paying Overtime Under the Fair Labor Standards Act

In Employment Law, Labor, News by David P. Pierce

On April 23, 2024, the U.S. Department of Labor (DOL) issued its final rule to raise the minimum salary amount employers must pay to exempt employees to avoid paying overtime under the Fair Labor Standards Act (FLSA).  Effective July 1, 2024, employers must pay certain salaried employees in the United States, who are classified as exempt, including those who take advantage of the common executive, administrative, and professional (EAP) exemptions, the equivalent of $844/week or $43,888/year to avoid overtime requirements.  The previous threshold amount was $35,568/year. According to the DOL, the new salary level is being set at the 35th …

Federal Trade Commission Issues Final Rule Banning Most Noncompete Agreements

In Employment Law, Labor, News by Marc L. Fleischauer

On April 23, 2024, the Federal Trade Commission (“FTC”) voted by a 3-2 margin to issue a final rule prohibiting employers from entering into and enforcing most non-competition agreements (“noncompetes”) against current and former workers. The FTC’s vote came more than a year after issuing its notice of a similar proposed rule on January 5, 2023 and collecting public comments through April 19, 2023. The FTC’s final rule proclaims that most noncompetes constitute a form of unfair competition pursuant to the FTC Act (15 U.S.C. § 45). In 2023, after seeking client input, Coolidge Wall submitted a public comment to …

Coolidge Wall Welcomes New CFO/COO To Firm’s Leadership Team

In News by Coolidge Wall

FOR IMMEDIATE RELEASE DAYTON, Ohio – The law firm of Coolidge Wall Co., L.P.A. is pleased to announce that Natasha J. Mumford is joining the firm to serve in the combined role of Chief Financial Officer and Chief Operating Officer.   Mumford was previously Controller and Interim CEO at The Rehabilitation Institute of Ohio, a Joint Venture Between Premier Health and Encompass Health. “We are extremely pleased Natasha is joining us,” said Coolidge Chief Executive Officer, Daniel J. Gentry. “She has excellent credentials and deep experience. Having a person of Natasha’s caliber benefits our firm by ensuring Coolidge lawyers can maintain …

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Coolidge Wall Shareholder Marc Fleischauer Becomes One of Only 13 Attorneys in the State to Become an Ohio Bar Association Certified Specialist in Labor and Employment Law

In News by Coolidge Wall

Coolidge Wall is pleased to announce Marc Fleischauer, chair of the firm’s Labor and Employment Department, has become one of only 13 newly certified specialists announced by The Ohio State Bar Association recently. As a certified specialist in Labor and Employment Law, he joins more than 1,300 attorneys in the State certified as specialists by the Ohio Bar since 1998. All attorneys licensed to practice law in Ohio must have graduated from an accredited law school, passed an intensive examination and attend continuing legal education courses as required by the Supreme Court of Ohio. Some attorneys who devote a large …

Coolidge Wall attorney Jordan Staley Outlines the Impact and Appeal Process of Rising Residential and Commercial Real Estate Property Taxes in Montgomery County, Ohio, in BAR BRIEFS.

In News, Real Estate by Jordan Staley

Jordan Staley, an associate in the firm’s Real Estate and Corporate/Business Departments, wrote an article in the most current issue of the Dayton Bar Association’s BAR BRIEFS.  He writes about the recent rise in residential and commercial property taxes in Montgomery County, Ohio, understanding the impact, and outlines the process to appeal.  Read more below.      

Career Opportunity: Chief Financial Officer/chief Operating Officer (CFO/COO)

In General, News by Coolidge Wall

Coolidge Wall Co., LPA is seeking a dual Chief Financial Officer/Chief Operating Officer (CFO/COO) to oversee the Firm’s financial operations and functions, guide the Firm in strategic planning, internal operations and analysis, and oversee the Firm’s IT, infrastructure, policies, and procedures. This is a senior leadership role that will report to the Firm’s President and Executive Committee. Key Responsibilities: Financial Management: Directs and maintains responsibility for the Firm’s financial functions; oversees relationships with financial institutions and key vendors; prepares and distributes monthly financial reports, including productivity and financial statements; evaluates, implements, and supports effective internal financial controls; oversees and participates …

New Associate Michael Ruffolo Joins Coolidge Wall

In Business Law, Estate Planning, General, News, Tax by Coolidge Wall

Dayton, Ohio – Coolidge Wall Co., L.P.A. is pleased to announce that Michael Ruffolo has joined the firm as an associate in its Corporate & Business, Estate Planning and Probate, and Tax Departments. Within corporate/business, Michael provides services to clients pertaining to mergers and acquisitions, corporate formations, business and operations, general business counsel, and corporate governance. In tax, he assists clients on federal, state, and local tax issues.  Michael’s estate planning practice includes assisting clients in all aspects of the preparation and administration of estates. Michael graduated from the University of Dayton School of Law in 2023 with a certified concentration in …

Coolidge Wall Receives 2024 Best Law Firms First-tier Ranking

In Business Law, Employment Law, Labor, Litigation, News, Real Estate, Tax by Coolidge Wall

Dayton, Ohio – Coolidge Wall Co., L.P.A. has received first-tier metropolitan ranking in 10 practice areas by U.S. News & World Report and Best Lawyers in the 2024 “Best Law Firms” list. Achieving a top tiered ranking signals a unique combination of quality law practice and breadth of legal expertise among ranked law firms. The 10 areas for which the firm received Tier 1 ranking are Commercial Litigation, Corporate Law, Employment Law-Management, Labor Law-Management, Litigation-Labor & Employment, Litigation-Real Estate, Real Estate Law, Tax Law, Trusts & Estates Law, and Workers’ Compensation Law-Employers. To be eligible for a ranking, a firm …

IRS Announces 2024 Pension Plan Limitations

In Employee Benefits, News by Edie E. Crump

The IRS announced cost-of-living adjustments for 2024 retirement plan contributions.  For 2024, the amounts that individuals will be able to contribute to retirement plans will increase from $22,500 to $23,000.  However, the catch-up contribution limit for employees age 50 and over will remain unchanged at $7,500.  This chart summarizes the limitations for 2024: Contribution Limits 2024 2023 Elective Deferral Limit – 401(k), 403(b) and 457(b) Plans $23,000 $22,500 Catch-Up Contribution Limit $7,500 $7,500 Elective Deferral Limit – SIMPLE Retirement Plan $16,000 $15,500 Catch-Up Contribution Limit – SIMPLE Retirement Plan $3,500 $3,500 Contribution Limit – IRA $7,000 $6,500 Catch-Up Contribution Limit …

New Associate Dina Cary Joins Coolidge Wall

In General, Litigation, News by Coolidge Wall

Dayton, Ohio – Coolidge Wall Co., L.P.A. is pleased to announce that Dina Cary has joined the firm as of counsel in Litigation Department. Specializing in commercial litigation, Dina’s focuses her practice in the areas of Labor and Employment, Construction, and Creditors’ Rights. Before joining Coolidge, Dina worked for a Springfield-based law firm, where she practiced Commercial Litigation with an emphasis on Creditors’ Rights.  Dina previously worked at Coolidge Wall for 10 years earlier in her legal career. An active member of both local and state bar associations, Dina is a committed community volunteer where she sits on the Board …