
- October15 2004
- Volume 11
- Issue 19
No Overtime Pay
Under the US Department of Labor's(DOL) new overtime regulations, physician-employees would generally not beeligible for overtime pay. Employeeswho make more than $23,660 annually;are paid on a salary rather than hourly-wagebasis; and perform duties that areexecutive, administrative, or professionalare exempt from overtime pay underthe DOL's new rules. Doctors are designatedas "learned professionals" underthe regulations, a group that is ineligiblefor overtime pay. Along with redefiningovertime eligibility, the rules also clarifywhen employers can dock workers fortime away from work. Under the newregulations, employers are generally forbiddento dock physicians if they arepaid on a salary basis. According toDOL figures, the median annual salaryfor a full-time US physician in 2003 wasabout $163,000.
Articles in this issue
almost 18 years ago
Question Your Ideal Investment Optionalmost 18 years ago
Determine when a Roth IRA Makes Sensealmost 18 years ago
Ponder the Privatized Social Security Issuealmost 18 years ago
Accelerate Retirement Savings with a 412(i)almost 18 years ago
Replace Malpractice Fiction with Factalmost 18 years ago
Expand Your Insurance Protection Planalmost 18 years ago
Save More with College Rewards Programsalmost 18 years ago
Select a Team Worthy of the Super Bowlalmost 18 years ago
Recover Taxes from a Natural Disasteralmost 18 years ago
Strengthen Your Retirement with Charity


































































