New York State Substantially Increases Salary Thresholds for Exempt EmployeesRobert N. Holtzman
California’s minimum wage for all employers regardless of size increased to $15.50 per hour. Exempt Employee Minimum Salaries The minimum salary threshold for exempt employees increased to $1,240 per week ($64,480 per year) for employers regardless of their employee count. The minimum hourly ra...
On November 15, a federal court voided the new overtime rule that was going to increase the FLSA salary threshold to $43,888 annually.
The salary threshold for an “exempt” employee under the FLSA executive, administrative, or professional exemption is now $648 per week, or $35,568 annually. This is increase to the previous threshold of $455 a week, or $23,660 annually. The “highly compensate employee” exemption also in...
The NYS Division of the Budget proposed an increase of the salary basis threshold for executive and administrative employees to be classified as exempt, with an effective date of December 31, 2022. For employers in Upstate New York (outside New York City and Nassau, Suffolk and ...
This is not the first recent effort to raise the salary threshold requirements for exempt employees. As Brooks Pierce reported in 2015, the Obama administration announced proposed rules raising the salary threshold for exempt status to much higher than the current proposed level, to nearly $50,000...
2. Identify Employees Below the Threshold Do you currently have white-collar exempt employees who earn less than $58,656 a year (or $132,964 for HCE)? You will have to decide whether to raise their salary to meet the new threshold or convert them to non-exempt status. If you decide ...
Currently, for an employee to be exempt from overtime pay, they must be earning at least $684/week or $35,568/year. This is known as the Standard Salary Threshold. The new rule, however, will increase the threshold over the coming years: On each of these dates, employees who are paid...
The ... Apr 26, 2024 | Blog Employers Take Note: Department of Labor Increases Overtime Exemption Threshold for Employees, Starting July 1 Starting on July 1, 2024, employees must make a salary of at least $43,888.00 a year to be considered exempt employees. On April 24, 2024, the U...
The Department of Labor has released its long awaited rule updating the regulations governing overtime pay for employees. Under the current regulations, the salary threshold for exemption is $455 per week ($23,660 per year) and the new rules will update that exemption level to the 40th percent...