Highly Compensated Employee Exemption 2024. To qualify for the highly compensated employee exemption, an employee must be paid total annual compensation of $132,964 annually. What’s changing under the new rule?
The employee must earn a total annual. Department of labor (dol) has attempted to increase the number of exempt employees who are eligible for overtime under the.
Budget 2024 Expectations Live Updates:
What’s changing under the new rule?
A Highly Compensated Employee Is Deemed Exempt Under Section 13 (A) (1) If:
Currently, the highly compensated exemption is set at $107,432.
With Respect To The Highly Compensated Employees Exemption, Beginning July 1, 2024, The Final Rule Will Raise The Annual Compensation Threshold From $107,432.
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.
Budget 2024 Income Tax Expectations:
The 2024 highly compensated employee limit, including employer and employee contributions, is $69,000 for employees under 50 and $76,500 for employees.