The DOL released its updated federal overtime rule on April 23, 2024. With limited exceptions, the rule increases the minimum salary for exemption as executive, administrative, or professional (“EAP”) employee from $684 per week ($35,568 annualized) to $844 per week ($43,888 annualized) effective July 1, 2024 and to $1,128 per week ($58,656 annualized) effective January