"Memorandum of Understanding"

hourglass-small.jpgWhat is the Section 7(k) Exemption?

Unless an overtime exemption applies, the Fair Labor Standards Act (FLSA) requires employers to pay their employees overtime compensation for any work performed in excess of 40 hours in a workweek, defined as seven consecutive days.  While the white collar overtime exemptions (administrative, executive and professional) set forth in

Retirement Sign.jpgWhat Is An Impairment Of A Memorandum of Understanding (“MOU”)?

The Public Employees’ Pension Reform Act  (“PEPRA”) prohibits employers from paying any portion of a “new member’s” member contribution rate.  New member contribution is 50% of total normal cost.  CalPERS recently released new actuarial reports to employers reflecting what the member contribution rate will be