All suits and actions for the recovery of overtime, damages, fees, or penalties accruing under laws respecting the payment of wages, and specifically under the Act of Congress known as the Fair Labor Standards Act of 1938 [Pub. L. 75-718; 52 Stat. 1060; 29 U.S.C. § 201 et seq.], as same has been or may hereafter be amended, and all other similar acts must be brought within two years after the accrual of such claim for relief, and all claims for relief accruing prior to the date hereof must be brought within one year after passage of this section. This section does not affect suits pending at the time of its passage.