U.S. Department of Labor Issues Final Rule Significantly Raising Salary Thresholds for FLSA Exempt

On April 23, 2024, the Department of Labor (DOL) announced a final rule raising the minimum salary thresholds to qualify for certain overtime exemptions under the Fair Labor Standards Act. The final rule, Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees, is set to take effect on July 1, 2024.

The final rule updates and revises the regulations concerning exemptions from minimum wage and overtime pay requirements for executive, administrative, and professional (EAP) employees, including highly compensated EAP employees.

For more information, including a chart of the updated salary levels, see LCW’s Special Bulletin on this rule.