Flsa Highly Compensated 2024. 1, 2025, the total compensation threshold will increase to $151,164, which includes at least $1,128 per week paid on a salary basis. Effective july 1, 2024, the final rule increases the minimum salary required for the flsa's executive, administrative and professional exemptions to $844 per week.
On july 1, 2024, the department of labor’s rule raising the salary threshold for workers to be exempt from the overtime requirements of the fair labor standards act becomes effective. Effective july 1, 2024, the final rule increases the minimum salary required for the flsa’s executive, administrative and professional exemptions to $844 per week.
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.
This fact sheet provides information on the exemption from minimum wage and overtime pay provided by section 13(a)(1) of the flsa as it applies to highly compensated employees as defined in 29 c.f.r.
Prepare For Flsa’s New Salary Thresholds For Highly Compensated Employees.
Effective july 1, 2024, the final rule will raise the threshold for highly compensated employees from $107,432 to $132,964 annually.
Flsa Highly Compensated 2024 Images References :
The Department Of Labor’s Final Rule On Overtime Regulations Under The Flsa Will Take Effect On July 1, 2024.
The highly compensated exemption (hce) total annual compensation level will increase from its current $107,432 per year to:
The Threshold Will Increase Again On January 1, 2025, To $151,164 Annually.
Under the previous flsa overtime rule, employees needed to earn at least $684 per week ($35,568 annually) and fulfill specific job duty criteria to qualify as exempt from flsa overtime requirements.