This will increase to $58,656 on january 1, 2025. Department of labor (dol) issued a final rule that would increase the salary threshold effective july 1, 2024, to $844 a week ($43,888 a year) and increase it again.
Details on the dol’s new overtime rule the final rule comes after the labor department proposed the new overtime thresholds last year. On april 23, 2024, the dol published a final rule that raises the minimum salary threshold of the standard exemption for executive, administrative, professional, and outside sales employees, as well as some computer employees from the minimum wage and overtime protections under the flsa.
That Number Was Then Scheduled To Go All The Way Up To $58,656 On Jan.
Department of labor (dol) issued a final rule that would increase the salary threshold effective july 1, 2024, to $844 a week ($43,888 a year) and increase it again.
On April 11, 2024, The White House Office Of Information And Regulatory Affairs (Oira) Announced It Had Concluded Review Of The U.s.
This will increase to $58,656 on january 1, 2025.
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“This Rule Establishes Clear, Predictable Guidance For Employers On How To Pay Employees For Overtime Hours And Provides More Economic Security To The Millions Of People Working Long Hours Without Overtime Pay.” Key Provisions Of The Final Rule Include The Following:
On april 23, 2024, the dol published a final rule that raises the minimum salary threshold of the standard exemption for executive, administrative, professional, and outside sales employees, as well as some computer employees from the minimum wage and overtime protections under the flsa.
The Final Rule Will Increase The Standard Salary Level And The Highly Compensated Employee Total Annual Compensation Threshold On The Rule’s Effective Date On July 1, 2024, And On January 1, 2025, When Changes In The Methodologies Used To Calculate These Levels Become Applicable.
The first phase of the rule, originally scheduled for july 1, would have increased the salary threshold for overtime eligibility to $43,888 from its current $35,568.