Salary Basis Requirement and Docking Pay under the FLSA

Summary

IMPORTANT: On August 30, 2023, the DOL proposed a rule to raise the salary threshold for overtime eligibility under the FLSA to $1,059 per week (about $55,000 per year) from its current rate of $684 a week ($35,568 a year). For further discussion, see Labor Department's Proposed Overtime Rule Could Raise Salary Floor to $55k: Here Are 8 Ways Employers Can Prepare Now.