Dol Proposed Salary Threshold 2024 Nj. The proposal sought to increase the threshold from its current level of $35,568 annually to $60,209 โ a nearly 70% increase. The final rule is expected in april, 2024.
Our comments, aiming to respond to the most probable salary threshold at the time a final rule is released, reference the dolโs projected figure for q1 2024, which is $60,209. The salary threshold would increase from the current $684 per week ($35,568 per year) to $1,059 per week ($55,068 per year)โa 55% increase from the current level.
First In July 1, 2024, And Then Again In January 1, 2025.
Executive, administrative, and professional employee salary threshold.
Currently, The Salary Threshold For Exempt Employees Is $684 Per Week ($35,568 Annualized).
We do not believe dol will be able to issue a final rule before q1 2024, so we are incorporating this projected figure into our response to the nprm.
In September 2023, The Dol Wage And Hour Division Published A Notice Of Proposed Rulemaking That Would Increase The Standard Salary Level And The Highly Compensated Employee Total Annual Compensation Threshold For An Employee To Be Exempt From The Overtime Requirements Of The Flsa.
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The Final Rule Is Expected In April, 2024.
Executive, administrative, and professional employee salary threshold.
The Salary Threshold Will Increase To $43,888 Per Year Effective July 1, 2024.
$844 per week (equivalent to $43,888 per year) $132,964 per year, including at least $844 per week.