Federal Exempt Salary Threshold 2024. Federal flsa salary threshold 2024. The proposed legislation would then apply a series of annual hikes through 2026 followed by automatic increases based on estimated bureau of labor statistics data — which could.
Current employment statistics summary, february 2024. The dol also seeks to increase the annualized salary threshold for the exemption for “highly compensated employees” (hce) from the current $107,432 per year to $143,988 per year.
Department Of Labor (Dol) Unveiled A Proposed Overtime Rule That Would Raise The Exempt Salary Threshold Under The Federal Labor Standards Act (Flsa) From $684 To $1,059 Weekly, Which Equates To $55,068 Annually.
This increase is expected to affect 3.6 million workers nationwide.
1, 2024, Businesses In Washington Must Meet The State Salary Thresholds Because They Are More Favorable Than The Federal Threshold Of $684 A Week.
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.
Federal Flsa Salary Threshold 2024.
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The Dol Also Seeks To Increase The Annualized Salary Threshold For The Exemption For “Highly Compensated Employees” (Hce) From The Current $107,432 Per Year To $143,988 Per Year.
Plan now for new exempt salary threshold starting in 2024 on august 30, 2023, the u.s.
As Of January 1, 2024, The Only States Not Utilizing The Federal Threshold Are Alaska, California, Colorado, Maine, New York, Washington And Wisconsin.
Depending on where employees work, the exempt minimum salary for 2024 in new york can range from $1,124.20 weekly ($58,558.40 annually) to $1,200 weekly ($62,400 annually).
It Also Proposes Increasing The Highly Compensated Employee Exemption Threshold To $143,988 Annually.