To calculate a paycheck start with the annual salary amount and divide by the number of pay periods in the year. This number is the gross pay per pay period. Subtract any deductions and payroll taxes from the gross pay to get net pay. Don't want to calculate this by hand? The Paycheck...
The Federal Salary Council also suggests in its examination of the federal pay scale that the GS base pay increase in 2025 would have to be close to 4% in orderto comply with the Federal Employee Compensation Act.But that rule is almost never followed because presidents have...
The standard salary level that currently exempts executive, administrative, and professional employees is $844/week or $43,888 annually for full-time staff. However, due to the DOL’s new overtime regulation, this threshold is set to increase on January 1, 2025. Next year, salaried employees...
Yes. At some point in the cycle, the Federal Reserve will have lifted interest rates to a point where inflation and the economy will be expected to cool. We saw this as recently as 2023; after the eleventh increase in the federal funds rate over a little more than a 16-month period, ...
A federal judge in Texas blocked a Department of Labor (DOL) rule that increased salary thresholds for certain exemptions from the Fair Labor Standards Act (FLSA).
“white collar” overtime exemptions washalted by a federal judgeon November 15. The judge not only struck down the phase-two increase to $59K set to take effect on January 1 but also knocked down the first boost that took the salary floor to $44K in July and the automatic three-year...
The Plum Book also provides valuable information regarding different base salary scales and above-base percentages for government jobs in various localities. For example, someone employed within the NYC metropolitan area would receive nearly 29% above base pay because of the city’s high cost-of-li...
Also under “New Business” was an update on new overtime rules issued by the U.S. Department of Labor on April 23, 2024. The U.S. Department of Labor has issued a new “Final Rule” regulation that will impact minimum salary requirements for employees, including those in municipal positi...