Legal News: DOL Issues Final Rule Restoring and Extending Overtime Protections

April 23, 2024 | Labor and Employment | Press Release

Effective July 1, the Fair Labor Standards Act's (FLSA's) annual salary-level threshold for white-collar exemptions to overtime requirements will increase from $35,568 to $43,888. As of Jan. 1, 2025, the annual salary threshold will rise to $58,656.

Per the Department of Labor: "The final rule updates and revises the regulations issued under section 13(a)(1) of the Fair Labor Standards Act implementing the exemption from minimum wage and overtime pay requirements for executive, administrative, and professional (EAP) employees. Revisions include increases to the standard salary level and the highly compensated employee total annual compensation threshold, and a mechanism that provides for the timely and efficient updating of these earnings thresholds to reflect current earnings data."

You can read the DOL's final rule here.

Concerned about what this final rule means and how it might impact you or your business? Learn about our Labor and Employment Law department and reach out to a Belin attorney here.