Will the New Salary Thresholds Go Into Effect? | Salary.com

The short answer is that there is no immediate change. Until further notice, the new salary threshold will go up to $58,656 on 1/1/25. No injunctions have been issued and employers need to proceed as if the new threshold will go into effect.

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Will The New Salary Thresholds Go Into Effect? | Salary.com

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New Salary Thresholds For Overtime

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May 7, 2024 · Currently, the salary threshold for exempt employees is $684 a week ($35,568 annualized) under the administrative, executive, and professional exemptions — which are …

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New Overtime Rule Boosting Pay To Millions Could Be 'moot' In 2025

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5 days ago · On Jan. 1, the threshold will increase further, to $58,656. The salary threshold then would update every three years based on wage data, according to the Department of Labor. …

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The FLSA In 2024: What Employees Need To Know - Salary.com

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Jun 3, 2024 · Currently, only employees earning less than $23,660 annually ($455/week) are eligible for overtime pay. Starting January 2024, the salary threshold will increase to $51,000. …

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DOL Issues Final Rule On Exempt Salary Level Threshold - McDonald …

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Apr 23, 2024 · The final rule. After receiving thousands of comments, the DOL’s final rule increases the salary level threshold in two steps: The salary threshold will increase to $43,888 …

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Federal Court Blocks DOL Salary Threshold Increase Nationwide

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3 days ago · The DOL’s two-part initiative sought to increase the salary threshold from $35,568 to $43,888 on July 1, 2024, and then to $58,656 on January 1, 2025. Legal Challenges Legal …

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Judge Blocks Biden Administration's Rule To Expand Overtime Pay …

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Employers were required pay overtime to salaried workers who make less than $43,888 a year in certain executive, administrative and professional roles as of July 1 — and that was set to rise …

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Federal Court Strikes Down DOL 2024 Overtime Rule - National …

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18 hours ago · A second increase would have raised the salary threshold to $1,128 per week ($58,656 annualized) effective January 1, 2025. ... increase from the salary level in effect …

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FAQs about Will the New Salary Thresholds Go Into Effect? | Salary.com 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 new salary threshold for 2025?

By Jan. 1, 2025, that salary threshold would increase to $58,656 per year, or $1,128 per week. The rule also includes automatic increases to that salary eligibility level every three years, starting in 2027, to keep pace with the changing labor market and wages. ...

What does the July 1 salary increase mean?

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. 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. ...

How much will the salary threshold increase in 2024?

The final rule includes tiered salary threshold increases for the standard salary level and the annual compensation for highly compensated employees: Effective July 1, 2024, the standard salary threshold will increase to $844 per week ($43,888 per year) and the annual compensation for highly compensated employees will increase to $132,964. ...

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. ...

Did Trump change the salary threshold rule in 2019?

The Department of Labor under Trump during his first term as president issued a new rule in 2019 that set salary thresholds that were substantially lower than the Obama-era rule. It is that rule the Biden administration changed with the the current final rule. ...