Fluctuating workweek
Fluctuating Workweek: Definition and OverviewThe fluctuating workweek is a pay structure recognized under the Fair Labor Standards Act (FLSA). It allows employers to compensate non-exempt employees with a fixed weekly salary, regardless of how many hours they work each week. This method is intended for workers whose schedules vary, some weeks they may work more […]
FLSA duties test
FLSA Duties Test: Definition and ExplanationThe FLSA duties test is used to evaluate whether an employee qualifies for exemption from minimum wage and overtime rules under the Fair Labor Standards Act (FLSA). Administered by the U.S. Department of Labor, this assessment determines whether an employee’s specific job responsibilities meet the standards for an exempt classification. […]
Floating holiday
Floating Holiday: Meaning and OverviewA floating holiday refers to a type of paid time off that employees can use at their discretion, typically for personal reasons or to observe a holiday that is not part of the company’s standard holiday calendar, such as New Year’s Day or Christmas. Since the day is chosen by the […]
Flexible spending arrangement (FSA)
Flexible Spending Arrangement (FSA): Definition and OverviewA Flexible Spending Arrangement (FSA) is a tax-advantaged benefit program sponsored by employers that allows employees to contribute pre-tax dollars toward eligible medical-related expenses. These can include prescription medications, copayments, medical supplies, and certain over-the-counter items. However, FSAs do not cover health insurance premiums or long-term care services. How […]