Is it 2019 or 2016? DOL proposes FLSA exempt salary threshold increase

On August 30, 2023, the U.S. Department of Labor (DOL) announced a much-anticipated notice of proposed rulemaking (NPRM) that, if implemented, would increase the minimum salary for exemption under the Fair Labor Standards Act (FLSA) by over 50% to $1,059 per week (the equivalent of $55,068 per year). The agency is also proposing adding an automatic updating mechanism to the regulations. Because the salary threshold amount referenced in the NPRM is based on 2022 data (which isn’t yet finalized), it’s likely that the annual salary threshold would be as high as $60,000 by the time a final rule is issued.

Current proposal

This is what we can glean now from the DOL’s NPRM: