We wanted to remind employers that the Department of Labor (DOL) released in its regulatory agenda that the Overtime final rule will be available in April 2024.
The rule sharply increases the minimum salary requirements for the executive, administrative, and professional (EAP) exemptions to apply.
| Exemptions | Previous salary requirements | Rules salary requirements |
| Salary Threshold | $684 per week ($35,568 per year) | $1,059 per week ($55,068 per year) |
| HCE (Highly Compensated Employee) | $107,432 per year | $143,988 per year. |
The DOL has indicated the actual salary threshold will be based on earnings data as of the date the final rule takes effect — which means the salary floor may be even higher than the projected $55,068. That could lift the operative threshold to more than $60,000 annually.
The rule will be effective 60 days after its publication.
For additional information see our previous update here: link.
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