What is the "regular rate of pay" for a nonexempt employee? The answer is needed when calculating hourly overtime wages, which must exceed base wages by 50%. New regulations from the U.S. Department of Labor (DOL) that take effect January 15 update the definition of "regular rate of pay" to guide your overtime pay calculations. [...]
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Payroll is one of the most complex administrative tasks employers face. And because of the tremendous importance of payroll to American households and the economy, there are many rules surrounding it. Here are answers to some payroll and employment questions you may have: Q. Is an employer required to provide employees with pay stubs? A. [...]
Create a win-win for both employees and your workplace leaders by helping both take more control in reducing stress in the workplace. Taking small measures to help reduce stress and give employees more job control will improve performance, motivation, employee health, satisfaction, and overall happiness. Maureen Garrity, HR director at Enterprise Record in Chico, CA, [...]
It is critical to keep your company's 401(k) plan in compliance with numerous federal laws and regulations. Plans that are found to be in violation risk expensive penalties and disqualification. The IRS recently issued this list of 11 potential errors: 1. Has your 401(k) plan document been updated within the past few years to reflect [...]
The Setting Every Community Up for Retirement Enhancement (SECURE) Act contains a number of favorable provisions that will help Americans save more for retirement. However, the new law also contains an unfavorable provision that will affect nonspouse IRA beneficiaries who inherit accounts with substantial balances. As a result, some carefully constructed estate plans will be [...]
A source of irritation for employees can be the issue of pay -- or no pay -- for time spent attending meetings and training sessions. Tell employees they have to attend a meeting or training program, and the employees may raise questions like these: Is attendance mandatory, or can we skip it? If we show [...]
Nearly 600,000 people will take on holiday seasonal jobs this year, predicts the National Retail Federation (NRF). The usual pressure to bring them in the door, compounded by today's low unemployment environment, could be a recipe for trouble. So, it's important to take the time to properly vet seasonal workers, just as you would your [...]
Before 401(k) plans burst onto the employee benefit scene in the 1980s and traditional pension plans had not yet gone nearly extinct, there were profit-sharing plans. The purpose of these plans, as the name suggests, was to spread some of your profits around the workforce. But as 401(k) plans emerged, they were often incorporated into [...]
Employers who must comply with the Americans with Disabilities Act (ADA) and similar state laws sometimes wonder how far they have to go to accommodate a disabled applicant or employee. The ADA defines accommodation as any change in the work or work environment which enables a disabled employee to perform the essential functions of a [...]
If your company still uses a manual time tracking system, you are probably losing time and money, as well as opportunities to streamline payroll and labor management. Much of the extra cost comes from errors and the time that managers and payroll personnel spend on labor-intensive tasks, such as: Monitoring early and late sign-ins and [...]