What Is The Minimum Wage?
In May 2007, Federal minimum wage was increased to $7.25 per hour, but will be implemented in three stages ($5.85 by July 24, 2007, $6.55 by July 24, 2008 and $7.25 by July 24, 2009). However, …
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What You Need to Know about 401k Withdrawals
401k plans are common retirement investment tools for United States workers. The plans, named for the section of the IRS code that defines them, allow workers to save for retirement and to defer income taxes until the time the money is withdrawn. However, with these tax benefits come restrictions on when money can be withdrawn from the plan without financial penalties. 401k withdrawals …
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Possible Damages for Wage and Hour Law Violations
Most employees make an agreement with their employers that in return for going to work and performing their jobs they will be compensated with wages. The federal Fair Labor Standards Act (FLSA) defines the minimum wage and overtime pay, among other things. Many states have enacted similar laws that regulate the minimum amount that an employee must be paid in return for doing his or …
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