I work for a small business in Orange County, California. Approximately 2 years ago, a couple of my coworkers and I were promoted to managers. Upon receiving the promotion, we were informed that we had become exempt employees, which meant we were not eligible for overtime pay at the time and 1/2 rate. Instead, they said they would pay us our hourly rate for any additional hours worked. However, we recently learned that in California, to qualify as exempt, one must make at least $64,480 annually, a threshold we are nowhere near reaching.
This year, the company hired an HR manager who contacted us and explained that we do not meet the criteria for exempt status. As a result, they reclassified us as non-exempt employees to avoid any further confusion, considering our annual earnings.
My question is, considering we were misclassified as exempt for the past 2 years, are we now entitled to receive all the overtime we worked at our hourly rate, paid at the time and 1/2 rate?
Any feedback would be helpful, thank you.