Flsa Minimum Salary 2025. The department of labor (dol) is raising the minimum salary requirement under the fair labor standards act (flsa) from $684 per week to $844 per week as of july 1, 2024. On january 1, 2025, the standard salary level will equal $1,128 per week and the hce total annual compensation level will equal $151,164.
Again, this means that employees earning less than the annual salary threshold will be subject to the flsa’s minimum wage and overtime regulations. Beginning july 1, 2027, the salary thresholds will automatically update every three.
The Department’s Final Rule, Which Will Go Into Effect On July 1, 2024, Will Increase The Standard Salary Level That Helps Define And Delimit Which Salaried Workers Are Entitled To Overtime Pay Protections Under The Flsa.
The final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date on july 1, 2024, and on january 1, 2025, when changes in the methodologies used to calculate these levels become applicable.
These Changes Will Impact The University As Well As Most Employers In The United.
The final rule made the following critical changes to the overtime requirements under the flsa:
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The New Rule Represents An Almost 65% Increase In The Minimum Exempt Salary Threshold By January 1, 2025 And An Increase Of Almost 40% In The Minimum Hce Compensation Threshold.
These changes will impact the university as well as most employers in the united.
The Rule Increases The Minimum Salary Threshold To Qualify For The White Collar Or Executive, Administrative, And Professional Employee Exemptions To Overtime.