Can I Bank Overtime Pay or “Time In Lieu” for My Employees?
If your business pays employees by the hour, you probably have to budget for overtime wages. Non-exempt employees who work over the...
The U.S. Department of Labor enacted the final Overtime Rule which updates the earnings thresholds necessary to exempt executive, administrative and professional employees from the Fair Labor Standards Act’s (FLSA) minimum wage and overtime pay requirements. It allows employers to count a portion of certain bonuses/commissions towards meeting the salary level. The new thresholds account for growth in employee earnings since the thresholds were last updated in 2004.
The impact of the Labor Department’s rule includes:
Employers should consider auditing their wage practices to ensure that, come the new year, all non-exempt employees are being properly paid overtime to avoid high-penalty FLSA claims.
If your business pays employees by the hour, you probably have to budget for overtime wages. Non-exempt employees who work over the...
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The U.s. department of labor recently issued an update bulletin rescinding prior guidance known as the "80/20 rule". Since 2009, this...
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Effective January 1, 2020, the Illinois Wage Payment and Collection Act has been amended regarding employee tips/gratuities. The law...