01.01.2025
The United States Department of Labor (DOL) recently announced new compensation thresholds for overtime eligibility as part of changes to the Fair Labor Standards Act (FLSA). These new rules will increase the annualized compensation threshold required to exempt a salaried employee from federal overtime pay requirements.
FLSA guidelines determine the salary thresholds that regulate which employees are considered “exempt” and therefore ineligible for overtime pay.
Updated salary thresholds per DOL were announced on Tuesday 4/23/24:
| Effective Date | Weekly salary threshold to qualify as exempt | Annual equivalent salary threshold to qualify as exempt |
| Current | $684 | $35,568 |
| July 1, 2024 | $844 | $43,888 |
| January 1, 2025 | $1,128 | $58,656 |
| July 1, 2027 | To be determined | To be determined |
| Annual Rate | $52,000.00 |
| Monthly Rate | $4,333.33 |
| Hourly Rate | $25.00 |
| Final Exempt Check | 12/31/24 |
| Gross Pay | $4,333.33 |
| Deductions | $450.90 |
| Taxes | $772.82 |
| Net | $3,109.61 |
| Non-Exempt Check | 1/10/25 |
| Gross Pay (Only 3 days) | $600.00 |
| Deductions | $111.45 |
| Taxes | $41.58 |
| Net | $446.97 |
| Non-Exempt Check | 1/24/25 |
| Gross Pay | $2,000.00 |
| Deductions | $234.45 |
| Taxes | $349.84 |
| Net | $1,415.71 |
| Total Net January Pay | $1,862.68 |
| Non-Exempt Check | 2/7/25 |
| Gross Pay | $2,000.00 |
| Deductions | $195.45 |
| Taxes | $359.85 |
| Net | $1,444.70 |
| Non-Exempt Check | 2/21/24 |
| Gross Pay | $2,000 |
| Deductions | $235.45 |
| Taxes | $349.84 |
| Net | $1,414.71 |
| Total Net February Pay | $2,859.41 |
| Deduction | Exempt Amount | Non-Exempt Amount |
| TRS (employee) | $260.00 | $120.00 |
| Consumer Choice H.S.A | $88.94 | $44.47 |
| Dental – Base Option | $34.22 | $17.11 |
| Health Savings Account | $20.84 | $10.42 |
| Vision Insurance | $6.90 | $3.45 |
| Parking (Second Biweekly check) | $40.00 | $40.00 |
| TOTAL | $450.90 | $235.45 |
2024 FLSA Final Rule Information and Knowledge Articles for Employees
ADDITIONAL QUESTIONS?
If you have additional questions that are not addressed here, we encourage you to reach out first to your Department’s Business/HR Office. You can also contact University Human Resources via email at [email protected] or by phone at 706-542-2222.
