U.S. DOL Issues Final Rule Increasing Salary Thresholds for Certain FLSA Overtime Exemptions
April 25, 2024
On April 23, 2024, the Department of Labor (DOL) released a final rule that raises the salary thresholds for certain overtime exemptions under the federal Fair Labor Standards Act (FLSA). The rule is expected to result in about 4 million employees to lose their exempt status under the FLSA. Employers must therefore either raise the salaries paid to such employees to maintain the exemption or reclassify their positions to non-exempt, paying them an hourly wage and overtime, where applicable.
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