Bonus Incentive Act

Summary

Bonus Incentive Act - Amends the Fair Labor Standards Act of 1938 to provide that an employee's regular pay rate, for purposes of calculating overtime compensation, will not be affected by additional payments to reward an employee or group of employees for meeting or exceeding productivity, quality, efficiency, or sales goals under a gain sharing, incentive bonus, commission, or performance contingent bonus plan. Requires such a plan to: (1) be in writing and made available to employees; (2) provide that the amount of the payments to be made under the plan be based upon a formula that is stated in the plan; and (3) be established and maintained in good faith for the purpose of distributing to employees additional remuneration over and above the wages and salaries that are not dependent upon the existence of such plan or payments made pursuant to it.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 8 November 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 8 November 1999

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 8 November 1999

  Open at official source

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