Flsa Highly Compensated 2024. Increasing the total annual compensation requirement for the highly compensated. The dol intends to make this proposed rule final in april 2024.
To qualify for the highly compensated employee exemption, an employee must be paid a total annual compensation of at least $132,964 (effective july 1, 2024). Employees currently meet the salary test if their salary is greater than $35,568 annually ($684 per week).
Beginning July 1, 2027, The Salary Thresholds.
On april 26, 2024, the department of labor’s wage and hour division (dol) issued a final rule that will increase the minimum salary threshold for the “white collar”.
Similarly, It Increases The Salary Thresholds For The Flsa's Highly Compensated Employee Exemption From $107,432 To $132,964 Beginning July 1, 2024, And To $151,164 Starting.
Department of labor (“dol”) published the final version of a rule originally proposed in september 2023, raising the salary.
If Implemented, This Rule Will Require Employers To Review Currently Exempt Employees’ Pay.
Images References :
Department Of Labor (“Dol”) Published The Final Version Of A Rule Originally Proposed In September 2023, Raising The Salary.
Beginning july 1, 2027, the salary thresholds.
Beginning July 1, 2024, The Rule, Defining And Delimiting The Exemptions For Executive, Administrative, Professional, Outside Sales, And Computer Employees,.
An employee may qualify as a highly compensated executive employee, for example, if the employee customarily and regularly directs the work of two or more.
On July 1, 2024, The Minimum Annual Compensation For This Exemption Will Increase From $107,432 To $132,964 Per Year, And Then On January 1, 2025, This Minimum Will Increase.