Salary threshold implementation schedule - Labor & Industries (L&I ...

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April 23, 2024 DOL Issues Final Rule Raising The Salary …

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threshold. The DOL’s final rule would raise the salary threshold from $35,568 to $43,888 ($844 per week) on July 1, 2024 and raise it again to $58,656 ($1,128 per week) on 1, 2025. The …

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Biden-Harris Administration Finalizes Rule To Increase Compensation ...

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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. 1, 2025. The July 1 increase updates the present …

dol.gov

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Income Limits 2024 VALUES FINAL - AHPNJ

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Rents** Sales*** Region 1 Median $84,288 $90,309 $96,329 $108,371 $120,412 $125,228 $130,045 $139,678 $149,311 $158,944 Moderate $67,431 $72,247 $77,064 $86,697 ...

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FAQs about Salary threshold implementation schedule - Labor & Industries (L&I ... Coupon?

When do salary thresholds change?

On Jan. 1, 2025, the rule’s new methodology takes effect, resulting in the additional increase. In addition, the rule will adjust the threshold for highly compensated employees. Starting July 1, 2027, salary thresholds will update every three years, by applying up-to-date wage data to determine new salary levels. ...

What is the pace of salary threshold implementation?

The pace of the salary threshold implementation will depend on how many people are working for your business. Small businesses, with 1-50 employees, will have a slower pace compared to large businesses (51 or more employees). ...

How will Texas' New salary-basis rule impact employers?

On November 15, 2024, in a significant ruling that will impact employers across the nation, the U.S. District Court for the Eastern District of Texas struck down the U.S. Department of Labor’s (DOL) new rule that would have required employers to increase the salary-basis threshold under the Fair Labor Standards Act (FLSA). ...

What is the salary threshold in Washington State?

For large employees with 51 or more employees: $1,499.40 weekly salary threshold/$77,968.80 annual salary threshold. The Washington State Department of Labor and Industries has developed a Salary Threshold Implementation Schedule, which shows salary thresholds through 2028. ...

What are the new minimum wage and exempt employee salary thresholds?

Common Carriers, Inc. (1988), 29 U.S.C. §218, and RCW 49.46.120. This blog will look at both upcoming increases in minimum wage and exempt employee salary thresholds. The minimum wage in Washington State, currently set at $16.28 per hour, will be increased to $16.66 an hour on January 1, 2025. ...

How often do salary thresholds update?

Starting July 1, 2027, salary thresholds will update every three years, by applying up-to-date wage data to determine new salary levels. “This rule will restore the promise to workers that if you work more than 40 hours in a week, you should be paid more for that time,” said Acting Secretary Julie Su. ...