July 1 2024 Flsa Salary Exemption.  — the department’s final rule, which will go into effect on july 1, 2024, will increase the standard salary level that helps define and delimit which salaried workers are entitled to overtime pay protections under.  — increase the hce exemption total annual compensation to $132,964 per year on july 1, 2024 (calculations based on the 2019 methodology).

 — starting july 1, 2024, employers must satisfy a higher salary threshold in order to consider employees as exempt from fair labor standards act (flsa) overtime. Under the previous flsa overtime rule, employees needed to earn at least $684 per week ($35,568 annually) and fulfill specific job duty criteria to qualify as.