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U.S. Department of Labor Issues Final Overtime Rule Raising Salary Thresholds
Categories: Exemptions (General), General Wage Hour
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On April 23, 2024, the U.S. Department of Labor (“DOL”) announced a new final rule through which it has significantly raised the bar for businesses to continue to classify their employees as exempt from overtime pursuant to the executive, administrative and professional (“EAP”) and “highly compensated employee” exemptions. Specifically, the DOL announced substantial increases to the salary threshold requirements for these exemptions, which will take effect on a staggered basis on July 1, 2024, and again on January 1, 2025.  

The New Salary Thresholds

The salary ...

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