EMPLOYER ALERT – DOL Approves Large Increases to “Salary Test” to Qualify for White Collar Overtime Pay Exemptions: Effective July 1, 2024
Starting July 1, 2024, the U.S. Department of Labor’s new rule will significantly increase the minimum salary required to qualify for white-collar overtime exemptions under the Fair Labor Standards Act. Employers should review compensation strategies, as the threshold rises from $35,568 to $43,888, affecting executive, administrative, and professional exemptions. Stay compliant and prepare for potential legal adjustments.