Dol Exempt Salary Threshold Changes 2024. Department of labor said tuesday it will publish a final rule raising the fair labor standards act’s minimum annual salary threshold for overtime pay. In april 2024, the department issued a final rule increasing the standard salary level for exemption, and the total annual compensation requirement for highly compensated.
The standard salary level will increase again on january 1, 2025 to $1,128 per week, which is equivalent to $58,656 per year. 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.
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