Dol Exempt Salary Threshold Changes 2024. In april 2024, the department issued a final rule increasing the standard salary level for exemption, and the total annual compensation requirement for highly compensated. Employers should prepare for anticipated increases to the salary basis threshold for certain categories of exempt employees under the fair labor standards.
Following proposed rulemaking in august 2023, the u.s. After receiving thousands of comments, the dol’s final rule increases the salary level threshold in two steps:
The Standard Salary Level Will Increase Again On January 1, 2025 To $1,128 Per Week, Which Is Equivalent To $58,656 Per Year.
Department of labor (“dol”) released a new final rule that significantly increases the minimum salary threshold to qualify for the executive,.
Being Paid On A “Salary Basis” Means An.
The final rule increases the salary threshold required to exempt a bona fide executive, administrative, or professional employee from federal overtime requirements.
Dol Exempt Salary Threshold Changes 2024 Images References :
Employers Should Prepare For Anticipated Increases To The Salary Basis Threshold For Certain Categories Of Exempt Employees Under The Fair Labor Standards.
The final rule increases the salary threshold required to exempt a bona fide executive, administrative, or professional employee from federal overtime requirements.
Being Paid On A “Salary Basis” Means An.
1, 2025, most salaried workers who make less than $1,128 per week will become eligible for overtime pay.