The Biden-Harris administration released a final rule today that will increase the thresholds required to exempt an employee from the federal overtime requirements.  Effective July 1, 2024, the salary threshold will increase from $35,568 to an annual salary of $43,888.  On January 1, 2025, it will increase again to $58,656.

Read the DOL's press release at Biden-Harris administration finalizes rule to increase compensation thresholds for overtime eligibility, expanding protections for millions of workers | U.S. Department of Labor (dol.gov).