Ch.42 Flashcards
Fair Labor Standards Act (FLSA) covers?
Covers all employers engaged in interstate commerce
What does FLSA do for employees federally?
- Currently, $7.25/hr at the Federal level
- Overtime pay - Over 40 hrs in any one week is adjusted to 1.5x;
- Working Holidays - Any holiday worked for regularly scheduled employees is 2x
How has the minimum changes over the years?
- 1977 - $2.30
- 1991 - $4.25
- 2009 - $7.25
What does the Family Medical Leave Act (FMLA) cover?
Covered employers are required to provided up to 12 weeks of leave during any 12 month period.
For 50 or more employees, for at least 20 work weeks
When do employers allow medical leave?
- Birth or adoption of child within 1 year of birth/adoption
- Foster child
- Care of spouse, parent, or child diagnosed with serious health condition
- Serious health condition that renders employee unable to perform any essential
functions of job - Spouse, child, or parent called to active duty
What is the employer required to do during leave
Provide health benefits
Allow employee to return to same or similar position
What is the purpose of Workers compensation Insurance Laws?
It provides financial compensation to employees when injured on the job and dependents when covered employee killed on the job
How does someone file a claim under workers compensation insurance?
- they an employee
- both employer and employee are covered by state workers’ compensation program
- Injury occurred on the job
What does the Consolidated Omnibus Budget Reconciliation Act do?
Provides health benefits to employees who lose their jobs or heave their hours reduced to level at which they are not eligible for employer health benefits
How long does COBRA last?
For up to 18 months
When are employees not eligible for COBRA?
Employee fired for gross misconduct
Employer eliminates benefits for all employees
How pays the premiums for COBRA?
employees
What is the Employee Retirement Income Security Act (ERISA)
Federal law protecting individuals enrolled in retirement by requiring plan administrator
to provide certain information to employees
What does ERISA require?
Requires employers to provide pension/health plan participants with plan information
What information does ERISA provide?
- Features and funding
- Assurances of fiduciary responsibility of those in charge of managing and controlling
plan assets - Grievance and appeals process for participants to receive benefits from plan
- Right to sue for benefits and breaches of fiduciary duty