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U.S. Department of Labor Issues Final Rule to Increase Minimum Salary Threshold for OT Eligibility

On April 23, the U.S. Department of Labor (DOL) issued the long-awaited final rule increasing the minimum salary threshold necessary for an employee to possibly qualify as exempt from overtime.

Effective July 1, 2024, the salary threshold will increase from $684 per week or $35,568 annually to $844 per week or $43,888 annually, and to $1,128 per week or $58,656 annually on January 1, 2025.  

Effective July 1, 2024, the minimum salary threshold to qualify for the highly compensated employee exemption will increase to $132,964 per year, and then increase again to $151,164 on January 1, 2025.  

July 1 is not that far off.  Employers need to begin the process of determining which of their currently exempt employees are likely to lose the exemption when the increased salary thresholds go into effect. 

U.S. Department of Labor Issues Final Rule to Increase Minimum Salary Threshold for OT Eligibility

On April 23, the U.S. Department of Labor (DOL) issued the long-awaited final rule increasing the minimum salary threshold necessary for an employee to possibly qualify as exempt from overtime.

Effective July 1, 2024, the salary threshold will increase from $684 per week or $35,568 annually to $844 per week or $43,888 annually, and to $1,128 per week or $58,656 annually on January 1, 2025.  

Effective July 1, 2024, the minimum salary threshold to qualify for the highly compensated employee exemption will increase to $132,964 per year, and then increase again to $151,164 on January 1, 2025.  

July 1 is not that far off.  Employers need to begin the process of determining which of their currently exempt employees are likely to lose the exemption when the increased salary thresholds go into effect. 

U.S. Department of Labor Issues Final Rule to Increase Minimum Salary Threshold for OT Eligibility

On April 23, the U.S. Department of Labor (DOL) issued the long-awaited final rule increasing the minimum salary threshold necessary for an employee to possibly qualify as exempt from overtime.

Effective July 1, 2024, the salary threshold will increase from $684 per week or $35,568 annually to $844 per week or $43,888 annually, and to $1,128 per week or $58,656 annually on January 1, 2025.  

Effective July 1, 2024, the minimum salary threshold to qualify for the highly compensated employee exemption will increase to $132,964 per year, and then increase again to $151,164 on January 1, 2025.  

July 1 is not that far off.  Employers need to begin the process of determining which of their currently exempt employees are likely to lose the exemption when the increased salary thresholds go into effect. 

U.S. Department of Labor Issues Final Rule to Increase Minimum Salary Threshold for OT Eligibility

On April 23, the U.S. Department of Labor (DOL) issued the long-awaited final rule increasing the minimum salary threshold necessary for an employee to possibly qualify as exempt from overtime.

Effective July 1, 2024, the salary threshold will increase from $684 per week or $35,568 annually to $844 per week or $43,888 annually, and to $1,128 per week or $58,656 annually on January 1, 2025.  

Effective July 1, 2024, the minimum salary threshold to qualify for the highly compensated employee exemption will increase to $132,964 per year, and then increase again to $151,164 on January 1, 2025.  

July 1 is not that far off.  Employers need to begin the process of determining which of their currently exempt employees are likely to lose the exemption when the increased salary thresholds go into effect. 

U.S. Department of Labor Issues Final Rule to Increase Minimum Salary Threshold for OT Eligibility

On April 23, the U.S. Department of Labor (DOL) issued the long-awaited final rule increasing the minimum salary threshold necessary for an employee to possibly qualify as exempt from overtime.

Effective July 1, 2024, the salary threshold will increase from $684 per week or $35,568 annually to $844 per week or $43,888 annually, and to $1,128 per week or $58,656 annually on January 1, 2025.  

Effective July 1, 2024, the minimum salary threshold to qualify for the highly compensated employee exemption will increase to $132,964 per year, and then increase again to $151,164 on January 1, 2025.  

July 1 is not that far off.  Employers need to begin the process of determining which of their currently exempt employees are likely to lose the exemption when the increased salary thresholds go into effect. 

U.S. Department of Labor Issues Final Rule to Increase Minimum Salary Threshold for OT Eligibility

On April 23, the U.S. Department of Labor (DOL) issued the long-awaited final rule increasing the minimum salary threshold necessary for an employee to possibly qualify as exempt from overtime.

Effective July 1, 2024, the salary threshold will increase from $684 per week or $35,568 annually to $844 per week or $43,888 annually, and to $1,128 per week or $58,656 annually on January 1, 2025.  

Effective July 1, 2024, the minimum salary threshold to qualify for the highly compensated employee exemption will increase to $132,964 per year, and then increase again to $151,164 on January 1, 2025.  

July 1 is not that far off.  Employers need to begin the process of determining which of their currently exempt employees are likely to lose the exemption when the increased salary thresholds go into effect.