The standard eap salary threshold will rise from the current floor of $684. Following proposed rulemaking in august 2023, the u.s.
Increase the minimum weekly salary to $844 per week, equivalent to $43,888 per year, on july 1, 2024 (calculations based on the 2019 methodology). On july 1, 2024, the department will update the standard salary level using the existing methodology from the 2019 final rule and current data, raising the salary level from $684 per week to $844 per week (equivalent to $43,888 per year).
The Standard Eap Salary Threshold Will Rise From The Current Floor Of $684.
The july 1 increase updates the present annual salary threshold of $35,568 based on the methodology used by the prior administration in the 2019 overtime rule update.
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.
1, 2025, the rule’s new methodology takes effect, resulting in the.
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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.
Department of labor said tuesday it will publish a final rule raising the fair labor standards act’s minimum annual salary threshold for overtime pay.
The Final Rule Is Expected In April, 2024.
The current salary threshold for exempt status for executive, administrative, and professional (eap) positions is $684.
