We would like to inform you about the recent changes to the Fair Labor Standards Act (FLSA) regulations that took effect on July 1, 2024. These changes impact the salary thresholds for exempt salaried employees and Highly Compensated White-Collar Employees.
Key Updates:
- The updated salary threshold for exempt salaried employees is now $43,888 annually or $844 weekly.
- For Highly Compensated White-Collar Employees, the new threshold is $132,964 annually.
Please note that the salary thresholds will increase again on January 1, 2025. Additionally, starting January 1, 2027, the Department of Labor will automatically adjust the salary threshold every three years.
Despite multiple legal challenges seeking to delay or void these new regulations, no injunction was granted. Therefore, it is essential for all employers to comply with these new salary levels. If you have any questions or need further clarification, please do not hesitate to reach out.