Highly Compensated Employee 2024 Exemption. The employee earns total annual compensation of $107,432 or more, which includes at least $684 * per week paid on a salary or fee basis; To qualify for the highly compensated employee (hce) exemption under the flsa, each employee must satisfy the following:
Have a total annual compensation of at least $100,000; The final rule will increase the standard salary level and the highly compensated employee total annual compensation threshold on the rule’s effective date.
The Biden Administration Is Proposing Raising It To $143,988.
Budget 2024 expectations live updates:
The Final Rule Also Increases The Earnings Threshold For The Highly Compensated Employee Exemption In Two Phases.
In april 2024, the department issued a final rule increasing the standard salary level for exemption, and the total annual compensation requirement for highly compensated.
In April 2024, The Department Issued A Final Rule Increasing The Standard Salary Level For Exemption, And The Total Annual Compensation Requirement For Highly Compensated.
Currently, the highly compensated exemption is set at $107,432.
The Rule Will Also Increase The Total Annual Compensation Requirement For Highly Compensated Employees (Who Are Not Entitled To Overtime Pay Under The Flsa If.
With respect to the highly compensated employees exemption, beginning july 1, 2024, the final rule will raise the annual compensation threshold from $107,432.
