Learn what premium pay means in workforce management, common types (overtime, shift differentials, hazard pay), typical rates (1.5x–2.5x base), legal requirements under FLSA, and how to calculate premium wages.
Learn what the Advanced Earned Income Credit (AEIC) was—a discontinued IRS program (ended 2011) that allowed low-income workers to receive estimated EITC in paychecks throughout the year instead of waiting for tax refunds. Understand why it ended, how current EITC works (one annual refund up to $7,830 for families with 3+ children), and modern alternatives like on-demand pay.
Learn what annualized salary means (total yearly compensation), how to convert hourly to annual ($20/hour × 2,080 hours = $41,600/year), differences between exempt salaried and non-exempt salaried employees, benefits of annual pay, calculating true compensation including bonuses and benefits, and salary negotiation strategies.
Learn what earnings thresholds are—minimum income requirements to qualify for benefits, tax credits, or protections. Examples include Social Security credits ($1,730 per credit, 4 credits/year maximum = $6,920 total), ACA employer mandate (30 hours/week threshold), unemployment eligibility (varies by state), EITC income limits, and 401(k) vesting requirements (typically 1,000 hours/year).
Learn what holiday accrual means, how employees earn paid holiday time based on hours worked or tenure, eligibility requirements (typically 90-day waiting period, full-time status), prorated accrual for part-time workers, holiday payout rules at termination (varies by state), difference from PTO banks, and managing holiday accrual policies.
Learn what redundancy pay (severance) is for layoffs and position eliminations, typical formulas (1-2 weeks per year of service), WARN Act requirements (60 days notice for mass layoffs at employers with 100+ workers), continuation of benefits, state-specific requirements, and negotiation strategies for severance packages.
