Highly Compensated Employee 2024 Flsa. The salary threshold for the highly compensated employee. These increases will follow the same pattern:
On april 23, 2024, the u.s. Highly compensated employee exemption test.
Effective January 1, 2025, The Final Rule Increases The Minimum Salary Required For These Exemptions To $1,128 Per Week.
On january 1, 2025, the annual salary threshold for the hce exemption increases to $151,164.
This Rate Is Expected To Increase Again To $58,656 ($1,128/Week) On January 1, 2025.
Under the federal fair labor standards act (flsa), employees generally must be paid an overtime premium of 1.5 times their regular rate of pay for all hours.
Customarily And Regularly Perform One Or More Of The Duties Of An Executive, Administrative, Or Professional Exempt Employee;
In april 2024, the united states department of labor (dol) released a final rule that will increase the minimum salary amount required to be paid to certain employees in order for these employees to be considered exempt from the fair labor standards act (flsa) overtime pay requirements.
On April 23, 2024, The U.s.
Further, the rule increases the earnings threshold for the flsa’s highly compensated employee exemption (“hce exemption”) from $107,432 per year to $132,964 per year.