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DOL/ESA | RIN: 1215-AB31 | Publication ID: Fall 2003 |
Title: Stock Options, Stock Appreciation Rights, and Bona Fide Employee Stock Purchase Programs Under the Fair Labor Standards Act | |
Abstract: The Worker Economic Opportunity Act, Public Law 106-202 (May 18, 2000), amended section 7(e) of the Fair Labor Standards Act to clarify how certain employer-provided stock option programs are to be treated for purposes of overtime pay. Certain programs meeting prescribed criteria would not have to be factored into the "regular rate" otherwise required when calculating "time-and-one-half" overtime premium pay for overtime hours of work. The legislation calls for regulations to be promulgated as necessary, which will include amendments to some of the existing regulations on overtime pay. | |
Agency: Department of Labor(DOL) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 29 CFR 546 29 CFR 778 | |
Legal Authority: 29 USC 207(e)(8) PL 106-202, sec 2(e) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: Businesses, Organizations | Federalism: No |
Included in the Regulatory Plan: No | |
Agency Contact: Tammy D. McCutchen Administrator, Wage and Hour Division Department of Labor Employment Standards Administration 200 Constitution Avenue NW., FP Building Room S3502, Washington, DC 20210 Phone:202 693-0051 Fax:202 693-1302 |