July 1, 2024
The first increase in the new minimum salary thresholds for exempt executive, administrative, professional, and highly compensated employees takes effect today, July 1, 2024.
Under the new rule, exempt executive, administrative, and professional (EAP) employees must be paid at least $844 per week ($43,888 per year). Employees exempt under the highly compensated employee (HCE) exemption must make at least $844 per week on a salary basis and at least $132,964 per year in total compensation.
On June 28, 2024, a federal judge in Texas issued an injunction that stops the application of the rule to the state government of Texas as an employer (e.g., the employees of the Texas Department of Transportation or Texas Workforce Commission are not subject to the new rule). Private employers are not affected by the injunction.