Dol Overtime Rule 2024 Highly Compensated. The rule will require employers to pay overtime premiums to salaried workers who earn less than $1,128 per week, or about $58,600 per year, when they work more. The rule also provides for automatic.
As explained below, the salary threshold prior to july 1, 2024, was $35, 568 per year for eap and highly compensated. On april 23, 2024, the dol published a final rule that raises the minimum salary threshold of the standard exemption for executive, administrative, professional,.
The New Rule Requires An Increase To The Salary Threshold For Executive, Administrative, And Professional Workers (Eap) And Highly Compensated Employees.
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.
There Also Has Been An Increase.
Under the federal fair labor standards act (flsa), employees generally must be paid an overtime premium of 1.5.
What’s Changing Under The New Rule?
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Increase The Highly Compensated Employee Total Annual Compensation Requirement From $107,432 To $143,988 Per Year;
Beginning july 1, 2024, the total annual compensation requirement will increase to $132,964.
This Final Rule Presents Employers With Many.
Under current dol regulations, hces must earn a salary of at least $684/week and receive total annual compensation of at least $107,432.
