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Calculating Overtime Correctly
Duration:
90 Minutes
90 Minutes
Access:
6 months
6 months
Webinar Id:
700041
700041
Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)
Overview:
Why you should attend: Calculating overtime is simple, right? It’s just time and a half! What is so tough about that?
Not so fast. Overtime is based on the regular rate of pay, and calculating the regular rate of pay is more complex than it appears. What’s included in the calculation? The reasonable cost of meals, lodging, nondiscretionary bonuses, on-call pay, shift differentials, cash benefit payments from Section 125 Cafeteria Plans, the list goes on…
And that's just computing the regular rate - we haven’t even touched overtime yet!
Well, what happens if it’s not correct? Nobody pays attention do they?
According to the Department of Labor, 300 new wage and hour investigators were hired in 2009 to respond to complaints and violations. By the end of 2010 the DOL announced they had collected more than $300 million in back wages for more than 385,000 workers.
Penalties for overtime violations can be severe with the possibility of fines, imprisonment or both! Add civil suits to the mix and the results can be devastating to any business no matter how large or small! Learn how to protect yourself and your company by joining renowned payroll expert Vicki M. Lambert in this information packed event!
Areas Covered in the Session:
The information provided in this presentation covers proper procedures for calculating overtime and common pitfalls involved in the process.
The importance of being thorough and correct when calculating regular rate of pay to avoid massive Department of Labor penalties is also highlighted as well as its importance in avoidance of suffering damages from civil law suits.Why you should attend: Calculating overtime is simple, right? It’s just time and a half! What is so tough about that?
Not so fast. Overtime is based on the regular rate of pay, and calculating the regular rate of pay is more complex than it appears. What’s included in the calculation? The reasonable cost of meals, lodging, nondiscretionary bonuses, on-call pay, shift differentials, cash benefit payments from Section 125 Cafeteria Plans, the list goes on…
And that's just computing the regular rate - we haven’t even touched overtime yet!
Well, what happens if it’s not correct? Nobody pays attention do they?
According to the Department of Labor, 300 new wage and hour investigators were hired in 2009 to respond to complaints and violations. By the end of 2010 the DOL announced they had collected more than $300 million in back wages for more than 385,000 workers.
Penalties for overtime violations can be severe with the possibility of fines, imprisonment or both! Add civil suits to the mix and the results can be devastating to any business no matter how large or small! Learn how to protect yourself and your company by joining renowned payroll expert Vicki M. Lambert in this information packed event!
Areas Covered in the Session:
- How to calculate the regular rate of pay
- The eight narrowly construed exceptions to inclusion of payments in the regular rate
- When you must include a bonus in calculating your employee’s overtime pay
- How to handle overtime calculations once you've determined that a bonus qualifies as includable wages
- How to calculate the overtime premium
- When and how to use the "fluctuating workweek" method
- Payroll Professionals
- Human Resources
- Accounting Personnel
- Business Owners
- Lawmakers
- Attorneys, or any individual or entity that must deal with the complexities and technicalities overtime calculation within the payroll process.