Labor Department Increases Overtime Salary Threshold to $58K Per Year in Final Rule
On April 26, 2024, the Department of Labor’s Wage and Hour Division (DOL) issued a final rule that will increase the minimum salary threshold for the “white collar” overtime exemption under the Fair Labor Standards Act (FLSA) from $35,568 to $58,656 per year. To be exempt from overtime pay under this provision, workers must be paid a salary of at least $58,656 and must also meet certain job duties for executive, administrative, and professional employees. Workers with a salary below this salary threshold must be paid overtime if they work more than 40 hours a week.
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