Exempt Salary Threshold By State 2024. The current salary threshold for exempt status for executive, administrative, and professional (eap) positions is $684. Federal salary threshold for exempt employees will increase starting july 1, 2024.
In accordance with washington state’s salary threshold implementation schedule, the salary threshold for overtime exempt workers is twice the annual minimum. The current salary threshold for exempt status for executive, administrative, and professional (eap) positions is $684.
The Final Rule Is Expected In April, 2024.
(1) beginning july 1, 2024, the salary threshold for the eap exemptions will increase from $684 per week ($35,568 per year) to $844 per week ($43,888 per year).
Specifically, The Proposed Rule Would Increase The Minimum Salary Required To Be Paid To An Executive, Administrative, Or Professional Employee In Order For That.
$65,000 per year exempt salary threshold.
When The Restoring Overtime Pay Act Of 2023 Becomes Effective, The Exempt Salary Will Be Set At $45,000 Per Year, And The Following Schedule Will Be Followed:
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The Minimum Annual Salary For Highly Compensated Employees Will Increase From $107,432 Per Year To $132,964 Per Year.
(1) beginning july 1, 2024, the salary threshold for the eap exemptions will increase from $684 per week ($35,568 per year) to $844 per week ($43,888 per year).
Under The New Rule, The Salary Level Threshold Increases To $844 Per Week (Equivalent To $43,888 Annually), Effective July 1, 2024, To Be Exempt From Overtime.
On july 1, 2024, the threshold will increase from around $35,000 to $43,888.
This Increase Is Happening Because Under California Law, Eap Employees Must Earn A Monthly Salary Of At Least Two Times The State Minimum Wage, And The New.