Current Flsa Salary Threshold 2024. 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. The july 1 increase updates the present annual salary threshold of $35,568 based on the methodology used by the prior administration in the 2019 overtime rule update.
For highly compensated employees subject to the flsa, the salary threshold is going up to $132,964 on july 1, 2024, and then up to $151.164. First, on july 1, 2024, the salary threshold will rise from $107,432 to $132,964 per year (a 23% increase).
For Highly Compensated Employees Subject To The Flsa, The Salary Threshold Is Going Up To $132,964 On July 1, 2024, And Then Up To $151.164.
The july 1 increase updates the present annual salary threshold of $35,568 based on the methodology used by the prior administration in the 2019 overtime rule update.
Revisions Include Increases To The Standard Salary Level And The Highly Compensated Employee Total Annual Compensation Threshold.
As of july 1, 2024, the new salary threshold will increase to $844 per week, which is $43,888 annually.
As Of January 1, 2025, The Salary Threshold Will Increase Again To $1,128 Per Week, Which Is $58,656 Annually.
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Under The Final Rule, The Salary Threshold Will Increase To $132,964 On July 1, 2024, And To $151,164 By Jan.
The final rule increases the hce threshold in two phases, raising it to $132,964 as of july 1, 2024, and to $151,164 as of january 1, 2025 (a 41% increase.
On April 23, 2024, The United States Department Of Labor (“Dol”) Announced A Final Rule Which Will Raise The Salary Threshold Required To Classify Employees As Exempt From Overtime Pay Requirements Under Federal Law.
On april 23, the department of labor (dol) issued its final rule to alter the overtime pay regulations under the flsa.
Starting July 1, The Threshold Will Increase From $35,568 To $43,888 Per Year.