Dol New Exempt Salary Threshold 2024. Department of labor (dol) finalized a rule on april 23, 2024, setting the. The new rule significantly increases the minimum salary requirement for executive, professional, and.
The proposed rule would increase the threshold more than 50%, to $1,059 per week. The rule also changed the salary threshold for “highly compensated” exempt employees from $107,432/year to.
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Employees to be paid at least a minimum salary amount to be exempt from the fair labor standards act’s minimum wage and overtime requirements under section 13(a)(1).
The Threshold Was Raised To $684 Weekly, Or $35,568 Annually.
The new rule will also raise the minimum annual salary threshold for the hce exemption to $132,964 per year starting july 1, 2024, which will also increase automatically on january 1, 2025, to.
1, 2025—An Increase Of Over 41% Over Today’s Current Minimum Salary Threshold.
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On April 23, 2024, The U.s.
The salary is not less than a minimum salary threshold amount, and.
1, 2025—An Increase Of Over 41% Over Today’s Current Minimum Salary Threshold.
Importantly, the aforementioned amounts proposed by the dol were based on 2022 earnings data and, if implemented, the final rule amounts might be.
Under The Dol’s Final Rule, The Annual Salary Level To Qualify For Exempt Status Will Increase In Two Steps Resulting In An Increase From The Current.
