The “Highly Compensated Employee” Exemption The FLSA further permits an exemption from federal overtime requirements for “highly compensated employees,” who receive a high annual compensation and whose primary duty includes performing office or non-manual work and who customarily and regularly perfor...
Increases the highly compensated employee total annual compensation threshold.The final rule also increases the earnings threshold for the highly compensated employee exemption in two phases. Effective July 1, 2024, the total annual compensation requirement for highly compensated employees w...
The DOL’s notice explained that if a participant is eligible for a qualified plan offered by the employer and is not a highly compensated employee, then the participant is eligible for a PLESA if the employer offers one. The threshold to qualify as “highly compensated” is $155,000 for...
Restaurant employees will now qualify for overtime pay if their annual salary falls below $35,568, as the new rule raises the standard salary level from $455 to $684. The rule also raised the total annual compensation level for highly compensated employees to $107,432. The rule also allows...
The rule also would have required an update to the salary threshold every three years and raised the highly compensated employee threshold from $100,000 to $134,000 in total annual compensation. This decision marks an important win for employers and halts what would have been a dramatic change...
| DOL Puts Forward Multiple-Employer 401(k)s Dominic DeMattiescommentson a proposal by the U.S. Department of Labor that would allow more employers to share a single 401(k)-type plan.
Manage HR Compliance related Alert Natural Disaster Relief for Employee Benefit Plans Alert January 27, 2025 Alert Ohio Passes the Enact the Pay Stub Protection Act Alert January 10, 2025 Alert ACA Forms Furnishing Requirements Update Alert
The Biden administration is casting the policy change as a redo of an almost 50-year regulatory scheme under the Employee Retirement Income Security Act of 1974 governing retirement accounts and comes as 401(k)s have largely replaced pension plans. Former President Barack Obama had proposed a wide...