Proposed Exempt Salary Threshold 2024

Proposed Exempt Salary Threshold 2024. Learn more about exemption categories here. The final rule raises the minimum salary threshold for eap workers to $844 per week or $43,888 per year effective july 1, 2024, and $1,128 per week or $58,656 annually effective january 1, 2025.

Similarly, the annual salary threshold for highly compensated employees will jump from $107,432 annually to $132,964 annually on july 1, and then to $151,164 annually on january 1, 2025. As proposed, the minimum salary threshold for eap exemptions would increase to $1,059 per week ($55,068 per year), a greater than 50% jump from the current minimum threshold.

The Salary Thresholds Required For Exempt Status Will Increase From $35,568 To $43,888 Starting On July 1, 2024, And To $58,656 Starting On January 1, 2025.

When the guidance was proposed, twenty states’ attorneys general—led by jonathan skrmetti of.

The Department’s Final Rule, Which Will Go Into Effect On July 1, 2024, Will Increase The Standard Salary Level That Helps Define And Delimit Which Salaried Workers Are Entitled To Overtime Pay Protections Under The Flsa.

Author (s) as summer looms near, employers of salaried workers would be wise to prepare for anticipated increases to the salary basis threshold for certain categories of exempt employees under the fair labor standards act.

The Salary Level Will Then Increase To $58,656 On January 1, 2025.

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The Proposal Sought To Increase The Threshold From Its Current Level Of $35,568 Annually To $60,209 — A Nearly 70% Increase.

The salary level will then increase to $58,656 on january 1, 2025.

This Will Increase To $58,656 On January 1, 2025.

Primary duties test —requires that an exempt employee typically perform executive, administrative, professional, or creative professional job duties.