Monthly Archives: May 2024

Department of Labor Increases Salary Requirements for White-Collar & HCE Exemptions  Implementation Deadlines: First phase on July 1, 2024 | Second phase on January 1, 2025    The U.S. Department of Labor [DOL] announced the Final Rule: Restoring and Extending Overtime Protections. The final rule amends the Fair Labor Standards Act regulations by increasing the salary threshold required for executive, administrative, and professional exemptions [referred to as white-collar exemptions). The final rule does not make […]

HSA Limit Contributions Announced for 2025 The IRS announced that the annual limit on health savings account (HSA) contributions for self-only coverage in 2025 will be $4,300, a 3.6 % increase from the $4,150 limit in 2024. The HSA contribution limit for family coverage will jump to $8,550, a 3 % increase from $8,300 in 2024.