In april 2024, the department issued a final rule increasing the standard salary level for exemption, and the total annual compensation requirement for highly compensated employees, as detailed below. The new rules increase the minimum salary from the current level of $684 per week (about $35,568 per year) to $844 per week (about $43,888 per year) effective.
The new rules increase the minimum salary from the current level of $684 per week (about $35,568 per year) to $844 per week (about $43,888 per year) effective. As a result of a change in the.
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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.
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Under the overtime regulations effective july 1, 2024, the annual salary threshold for exempt positions is $43,880 (or $844 per week).
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Starting July 1, 2024, People Earning Less Than $43,888 Per Year, Or $844 Per Week, Would Be Eligible For Overtime Pay.
