This post was originally published on this site
On April 23, 2024, the U.S. Department of Labor (DOL) issued its highly anticipated final rule that will raise the standard minimum salary level needed for most white-collar exempt employees on July 1, 2024, and then increase it again beginning January 1, 2025. The final rule will also increase the total compensation minimum for highly compensated employees (HCEs) and will adopt a mechanism to update these thresholds going forward every three years. While there may be legal challenges that prevent the rule from taking effect, employers should still look at their current exemptions and prepare to make adjustments if current