Description
Know when wage payments should be classified as supplemental and the applicable withholding rules that apply.On January 1, 2020, the overtime regulations put in place by the United States Department of Labor (U.S. DOL) allowed employers to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 of the new required exempt salary level of 684 per week (or 35,568 per year for a fullyear worker). That is one example of the many ways supplemental wages can be an excellent resource for employers to incentivize employees as well as augment their wages. If managed correctly, supplemental wages, as part of a total compensation package, can be an effective talent recruiting, staff retaining, and marketing tool. As with all human capital management, an appreciated and valued employee is a happy employee. Happy employees provide better service to clients. Better serviced clients stay clients.
Date: 2022-02-02 Start Time: End Time:
Learning Objectives