The Employee Retirement Income Security Act of 1974 (ERISA), a federal statute, delineates minimum standards for the administration of private industry's pension plans and establishes the impact that federal income taxes will have on...
employee benefits
essential job functions
Essential job functions are the fundamental responsibilities of a job that must be completed to hold the position. For example, an essential job function for a truck driver is the ability to drive trucks.
This criteria is...
exempt employee
Exempt employees are those ineligible for overtime pay or minimum wage from the Fair Labor and Standards Act. Usually exempt employees are in professional, administrative, executive, outside sales, and computer-related positions which have a...
Fair Labor Standards Act
The Fair Labor Standards Act is a federal statute passed as part of the New Deal that regulates the hours, wages, and working conditions of employees and prohibits child labor under the majority of circumstances. The Fair Labor Standards Act...
Fair Labor Standards Act (FLSA)
The Fair Labor Standards Act of 1938 (FLSA) established fundamental changes to labor standards in the United States. Infamously, FLSA created the federal minimum wage for most private and public employees, which originally was $0.25 an hour....
Fair Minimum Wage Act of 2007
The Fair Minimum Wage Act of 2007 amended the Fair Labor Standards Act to incrementally raise the federal minimum wage from $5.15 in 2007 to $7.25 in 2009. The Federal minimum wage remains at $7.25 as of 2021. However, there have been...
Family and Medical Leave Act (1993)
The Family and Medical Leave Act of 1993 is a federal statute that requires employers with 50 or more employees to allow those employees to take up to 12 weeks of unpaid leave in the event the employee has a newborn child or the employee /...
Family and Medical Leave Act (FMLA)
The Family and Medical Leave Act (FMLA) requires employers to give 12 weeks paid leave to covered employees having a child or due to a severe medical condition of the employee or a family member. Employees do not get paid, but they must be...
federal benefit rate
The federal benefit rate is the amount of money the Federal government provides for supplemental security income recipients. As of 2021, the benefit rate is $794 for individuals and $1,191 for couples, but the rate usually increases annually...
Federal Unemployment Tax Act (FUTA)
Federal Unemployment Tax Act (FUTA) was the bill passed in 1939 that established a payroll tax to fund unemployment benefits. The tax is 6% of the first $7,000 that each employee makes in a year, and the employer is responsible for all of the...