Highly Compensated Employee 2024 Flsa. Department of labor (“dol”) released a new final rule that significantly increases the minimum salary threshold to qualify for the executive, administrative,. Flsa set the federal minimum wage ($7.25 in 2024) for nonexempt employees.
In addition, the rule will adjust the threshold for highly compensated employees. The rule also provides for automatic salary increases every three years thereafter, beginning on july 1, 2027.
$684 Per Week (Equivalent To $35,568 Per Year) $107,432 Per Year, Including At Least $684 Per Week Paid On A Salary Or Fee Basis.
Highly compensated employee total annual compensation threshold;
Link To An Amendment Published At 89 Fr 32972, Apr.
(a) (1) beginning on january 1, 2020, an employee with total annual compensation of at least $107,432 is deemed exempt under section 13 (a) (1) of the act if the employee customarily and regularly performs any one or more of the exempt duties or responsibilities of an.
$132,964 Per Year, Including At Least $844 Per Week Paid On A Salary Or Fee Basis.
Images References :
Non Exempt And Exempt Employee Overtime Law.
To learn more about employee coverage under the flsa, check out the dol’s fact sheet.
2024 And 2025 Increased Salary And Hce Threshold (Source:
Effective july 1, 2024, the final rule will raise.