Proposed Colorado salary threshold for EAP exemption and projected 40th percentile salaries in the West Census Region, 2020–2024

Year Colorado minimum wage (actual and projected) Proposed overtime salary threshold Proposed threshold in weekly salary Proposed threshold in annual salary 40th percentile of weekly earnings in the West Census Region (projected) 40th percentile annual salary equivalent
2020 $12.00 1.5 x minimum wage $720 $37,440 $1,173 $61,013
2021 $12.31 1.75 x minimum wage $862 $44,808 $1,210 $62,894
2022 $12.62 2.0 x minimum wage $1,010 $52,499 $1,246 $64,793
2023 $12.94 2.25 x minimum wage $1,165 $60,559 $1,284 $66,759
2024 $13.26 2.5 x minimum wage $1,326 $68,952 $1,322 $68,744

Notes: Projections for the Colorado minimum wage for 2021–2024 are based upon the Congressional Budget Office's (CBO) January 2019 projections for the Consumer Price Index (CPI). The 40th percentile of earnings is projected at the CBO's projections for CPI plus 0.5 percent.

Source: Economic Policy Institute analysis using Congressional Budget Office January 2019 Economic Forecast and Bureau of Labor Statistics' Research series on deciles of usual weekly earnings of nonhourly full-time workers from the Current Population Survey, 2018

View the underlying data on epi.org.