HSP M 101 Lecture Notes - Lecture 19: Fair Labor Standards Act, Merit Pay
25 May 2016
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Unemployment insurance: temporary source of income, funded by money taken out of your and the company"s taxes. Funded with money paid by the employer while the person was employed. Social security: supplemental retirement system, funded by payroll taxes. It is rumored that social security will not exist when we are retiring. People that are retiring right now are getting the money that you get. The baby boomers were a very large generation, but our generation was smaller and are working less. Over 65 years old or younger persons with disabilities. Workers" compensation: state regulated insurance, pays medical bills for people injured at work. Holidays, vacations, medical/dental, retirement, maternity leave, discounts, etc. Federal compensation laws (fair labor standards act {flsa}) If you work more than 40 hours a week, you get paid overtime (time and a half), tipped employees are included within the scope of this law. Equal pay act: women make . 78 cents to every men make.
