Starting july 1, 2027, salary thresholds will update every three years, by. Under this new rule, a worker must earn at least $43,888 beginning on july 1, 2024 to satisfy the salary basis test for overtime exemption.
This will increase to $58,656 on january 1, 2025. Assuming the dol follows a similar timeline as it did while enacting a final rule in.
The New Dol Final Rule Will Make Three Key Changes To The Flsa Exemptions:
The rule increases this minimum salary threshold, initially to $844 per week ($43,888 per year) as of july 1, 2024, and then to $1,128 per week ($58,656 per year).
1, 2025, The Rule’s New Methodology Takes Effect, Resulting In The Additional Increase.
After receiving thousands of comments, the dol’s final rule increases the salary level threshold in two steps:
Images References :
On April 23, The Dol Released Its Final Rule Increasing The Salary Threshold For The Eap And Highly Compensated Executive Exemptions.
This amount will increase to $58,658 beginning on january 1, 2025.
The Rule Increases This Minimum Salary Threshold, Initially To $844 Per Week ($43,888 Per Year) As Of July 1, 2024, And Then To $1,128 Per Week ($58,656 Per Year).
