---
title: Compliance Update may Impact your Employee Benefits
description: Compliance Update - Department of Labor's new overtime rule effective 7/1/2024
---

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# [Compliance Update may Impact your Employee Benefits](https://koppingerins.com/blog/compliance-update-may-impact-your-employee-benefits)

 Written by [Koppinger & Associates](https://koppingerins.com/blog/author/koppinger_associates) | Jun 11, 2024 2:05:32 PM

**Important Compliance Update**

The Department of Labor's (DOL) new overtime rule could impact your employee benefits.  In light of the final rule that increases salary thresholds for overtime exemptions, employers should reevaluate the following items:

- **Retirement Plans** - Employers should review their retirement plan documents to determine how their plan defines compensation
- **Other Benefits** - Employers should review their plan documents to determine whether eligibility for health benefits or other fringe benefits depends on an employee's exempt status

Be aware of the changes on these dates:

- **July 1, 2024** - the salary level for executive, administrative, and professional (EAP) employees will increase to $844 per week and $132,964 per year for highly compensated employees (HCEs)
- **January 1, 2025** - The salary level for EAP employees will increase to $1,128 per week and $151,164 per year for HCEs

It is recommended that employers take steps now to prepare for the final rule before it takes effect.

Further explanation of the final rule can be found [HERE](https://link.edgepilot.com/s/ff26c15d/_UG7gM6OhkG2ON-wV_IphA?u=https://koppingerins.us4.list-manage.com/track/click?u=713987f7ce6412fef43a40f3d%26id=27e0a6b822%26e=6b067dc2a6) 

 

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