New Exempt Salary Threshold 2024. Increases the minimum salary threshold level for eap exempt employees. Starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act overtime rules.
First, on july 1, 2024, the salary threshold will rise from $107,432 to $132,964 per year (a 23% increase). The department’s final rule, which will go into effect on july 1, 2024, will increase the standard salary level that helps define and delimit which salaried workers.
The Department’s Final Rule, Which Will Go Into Effect On July 1, 2024, Will Increase The Standard Salary Level That Helps Define And Delimit Which Salaried Workers.
Effective july 1, 2024, the salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to $58,656 on jan.
On April 23, 2024, The U.s.
First, on july 1, 2024, the salary threshold will rise from $107,432 to $132,964 per year (a 23% increase).
New Exempt Salary Threshold 2024 Images References :
Second, On January 1, 2025, It Will Rise To.
The list includes some special districts in states but does not include.
Employers Should Adjust Their Minimum Exempt Salary To $58,458.40 Annually ($1,124.20 Weekly) To Reflect The Increase That Took Effect January 1, 2024 In Areas.
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.