Calculating overtime pay for nonexempt employees sounds so simple. Common folk lore says you simply count the hours the employee works beyond 40 hours a week. Then you multiply that by 1.5 times their hourly pay rate and you’re done, right? Not so fast. The truth is that overtime rules and the mathematics required to arrive at the correct calculation can be extremely tricky.
Overtime under the Fair Labor Standards Act is based on a unique term, created in 1938, known as 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, commissions, 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!
For example, when a bonus must be included in calculating the rate what overtime does it apply to? When the bonus is paid or when the bonus was earned? What if the bonus spans a long period of time such as a quarter or a full year?
Then what happens if you get it wrong? Nobody pays attention, do they? According to the Department of Labor, they collected more than $230 million in back wages for more than 190,000 workers in FY 2021 alone. Of that amount collected, $138 million was for back overtime.
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! And just to make it interesting, most states use the same definition to calculate overtime as the FLSA does. So, one error can earn you double the penalties.
In this event, we will cover:
What is the definition of overtime under the FLSA– it’s not what most people think
What is the Portal-to-Portal Act and how does it affect overtime
How to calculate the regular rate of pay
Tracking hours worked and the use of rounding practices
The eight narrowly construed exceptions to the inclusion of payments in the regular rate
When you must include a bonus in calculating your employee’s overtime pay
What is the overtime premium and how is it calculated
How to calculate overtime if a bonus covers more than one workweek
Using the weighted average method to calculate overtime when and where it must be done
When and how to use the “fluctuating workweek”
When can the “alternate” method of calculating overtime be used
Human Resources Executives/ Managers/Administrators
Accounting Personnel
Business Owners/ Executive Officers/ Operations and Departmental Managers
Lawmakers
Attorneys/ Legal Professionals
Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
Ask your question directly from our expert during the Q&A session following the live event.
Speaker
Vicki M. Lambert
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations.
With 40 years of hands-on experience in all facets of payroll functions as well as over three decades as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today.
A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert now presents a weekly podcast, Payroll 24/7, on all things payrolls.
Certifications
Paudioz is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please portal.shrm.org.
This Program has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, aPHRi™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, and SPHRi™ recertification through HR Certification Institute®? (HRCI®).
Paudioz Courses and Webinar or any Education published “Articles & Materials” strictly follows the standards and guidelines of the Professional Credit / CEU Providers and Well Researched before publishment.
Paudioz doesn’t support any Fake – News, Articles, or Compliance updates; Our Industry Experts are highly verified and recognized, and their Pre-publishment is verified via our experts and fact-checkers.
FAQ's
How Do I Get Enrolled For This Webinar/Course?
Sign up now on paudioz.io. Visit paudioz.io to discover a wide range of webinars from industry specialists. Tick on either ‘live webinar’ or ‘on-demand’, and simply click on ‘buy now’ to get enrolled.
Can I Get Somebody Else Enrolled For This Course? If Yes, How?
You can refer paudioz to anyone in your social circle. Explore your industry with your colleagues by getting them signed up on paudioz.io today!
How Can I Access The Live Webinar?
Go for the topic of your keen interest on paudioz.io. Tick on ‘live webinar’ and get enrolled! Easy registration, transparent transaction.
Can I Attend The Webinar Without An Internet Connection?
You can request for an on-demand webinar that records the live webinar for you. After the webinar ends, you will have full access to the webinar’s recording.
What Is An “On Demand”?
If you can’t attend the live webinar, simply go for the ‘on-demand webinar’ for the same price! Now, the live webinar recording will be saved in a cloud storage for you to access anytime from anywhere.
Will The Transcript Be A Hard-Copy Or A Soft-Copy?
Paudioz offer only soft copies of the webinars. It contains all the highlights as well as comprehensive descriptions of the webinar, so you never miss out a single detail.
Can I Ask Question(S) To The Speaker?
At the end of each webinar, you have the opportunity to interact with your industry experts, where you will get answers to all your queries.
I Missed The Live Webinar. What Now?
Don’t worry, If you can’t join live webinar. Paudioz has automatically send you On Demand on your registered mail id after conducting live webinar. So, you never miss out a single detail.
Isn’t It Helpful?
Ask Your Question Directly From Our Customer Support Team.
