There is more to the decision-making process than colleges may realize, especially with future increases and litigation on the horizon, attorneys said. the U.S. Department of Labor. The agency published its final rule updating overtime pay eligibility, which increases the FLSA’s minimum annual salary threshold via a pair of changes set to take effect over the next several months. July 1 marks the first increase from the current minimum of $35,568 per year to $43,888 per year. After that, the threshold will next increase to $58,656 per year on Jan. 1, 2025, roughly 65% higher than the present-day mark — and will automatically increase every three years thereafter using a formula outlined by the DOL. The HR department at our hypothetical administrative professional’s college now has a series of choices to make.
