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The first year of employer disclosures made under the new U.S. Securities Exchange Commission disclosure rules for executive compensation reveals an approximate threefold increase in the value of executive perks. Under the new rules, employers must disclose perks totaling $10,000 or more; previously, the disclosure threshold was $50,000. This causes concern for executives as many […]
The federal Fair Labor Standards Act (FLSA) and California law exempt certain administrative employees from overtime; the requirements for the administrative exemption under California law are stricter than the FLSA. To qualify for this exemption in California, an employee must: 1) earn a salary equal to at least twice the state minimum wage; 2) perform […]
Section 403(b) of the Internal Revenue Code is undergoing its most significant changes in decades. The IRS has issued final regulations for retirement plans governed by Section 403(b) and maintained by nonprofit and tax-exempt organizations and public schools for their employees’ benefit. The plans may be funded through annuity contracts issued by an insurance company, […]
Internal Revenue Code Section 409A regulates deferred compensation plans and other arrangements, including severance plans, annual bonus payments, long-term incentive arrangements, stay bonuses, and settlement agreements upon termination. Section 409A rules govern compensation that was deferred or became vested after Jan. 1, 2005. Because employers have faced many difficulties trying to comply with these rules, […]
The U.S. Citizenship and Immigration Services (USCIS) has released a new Form I-9, which you can access at www.uscis.gov. Five documents, which employees previously could have submitted for proof of identity and employment eligibility, were removed from List A because they lack sufficient features to help deter counterfeiting, tampering, and fraud. Employers can no longer accept […]
As of the first of the year, California’s minimum wage will be $8.00 per hour, up from the 2007 rate of $7.50. Keep in mind that this rate increase affects not only hourly, nonexempt workers but also salaried, white-collar exempt employees. As of January 1, the minimum monthly salary for these exempt employees will rise […]
Under California and federal law, an exempt employee must receive his or her full salary for any week in which the person performs any work, regardless of the quality or number of hours worked. This is known as the “salary basis” rule. If you dock an exempt employee’s weekly salary, you could violate this rule […]
During the holiday season, many employers shut down their operations for a few days over Thanksgiving, Christmas, or New Year’s. If you’re thinking of closing up shop for the remaining holidays this year, first make sure you’re up on special pay rules for employees who qualify as exempt from overtime. Paying Overtime: 10 Key Exemption […]
A new law that goes into effect on Jan. 1, 2008, requires employers to provide a new notice to employees, along with annual wage summaries (such as W-2 or 1099 forms). The measure, A.B. 650, requires all California employers to give all employees written notice of employees’ possible right to take an Earned Income Tax […]
We have a strict seniority system. Do we have to bump one of our workers to give another employee a reasonable accommodation under the Americans with Disabilities Act? — Anonymous How To Survive an Employee Lawsuit: 10 Tips for Success With lawsuits against employers becoming ever more common—and jury verdicts skyrocketing—your risk of getting […]