On April 22, 2024, the Department of Labor (DOL) released the final version of a new rule to raise the minimum salary threshold for most employees covered by the so-called white-collar exemptions under the Fair Labor Standard Act (FLSA) and adopt an automatic mechanism that will update the earnings thresholds every three years (the 2024 Rule). The DOL estimates these changes will impact approximately 4 million workers. The 2024 Rule is scheduled to go into effect on July 1, 2024.