Marci Becker Sandy McElhinney Financial Management Services 04/23/08 CATS Presentation.

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Presentation transcript:

Marci Becker Sandy McElhinney Financial Management Services 04/23/08 CATS Presentation

Calculating Overtime according to PeopleSoft and FLSA – Fair Labor Standards Act  Over 40 Hours Report - TIME  Multiple Jobs/Rates – Weighted Average  Bonus Payments  Overtime Only jobs  Paying Retro Overtime  Professional Staff – Overtime Eligible  Online Calculator

 TIME will automatically convert hours over 40 to OVT or CPE, depending on the department’s setup  Hours recalculate as they are entered on timesheet  Over 40 report/process will be obsolete when all BW & HR employees are on TIME

 Employee has 2 jobs with different rates  Job 0 - $8.00/hour  Job 1 - $10.00/hour  Employee worked the following hours  Job hours  Job hours

 Step 1 – Calculate the Regular Pay they will receive  Job 0: 24 hours * $8.00 = $  Job 1: 16 hours * $10.00 = $  Total Regular Pay = $  Step 2 – Calculate the first 1.0 of OVT time  Job 1: 12 hours * $10.00 = $120.00

 Step 3 – Calculate the FLSA Rate to be used for additional 0.5 of OVT time  Total Amount: $ (reg) + $ (ovt) = $  Total Hours: = 52 hours  FLSA Rate = Total Amount / Total Hours  FLSA Rate = $ / 52 = $

 Step 4 – Calculate additional.5 amount  Overtime Hours * 0.5 * FLSA Rate  12 hours * 0.5 * $ = $54.46  Step 5 – Combine all types of pay  Regular Pay = $  First 1.0 of OVT = $  Remaining.5 of OVT = $54.46  Total Pay for Period = $526.46

 Certain types of bonus pay will inflate the FLSA rate used to pay the additional.5 of OVT  SBY – Standby  INP – Incentive Payment  AWD – Award  OC1 – On Call  HA1 – Hazard Pay (AFSCME Union)

Hire eDoc comp rate = regular pay rate for the type of work being performed Rate will be * 1.5 during payroll calculation

Job Comp Rate = $20.00 Rate calculated on paycheck = $30.00

Retroactive Rate Adjustments – enter the regular and overtime retro codes with the difference in the regular rate. Payroll calculation will increase rate.

 Employees track work hours by month  Overtime rate will inflate if employee received any bonus-type pay during the earnings period the overtime was worked  Overtime hours worked are submitted on adjustment vouchers and paid in the following month

Coming Soon to the FMS Website Payroll > Payroll Procedures > FLSA Overtime Calculation