 Categories of Employment/Overtime

CATEGORIES OF EMPLOYMENT/OVERTIME

The foundation hires into one of three categories of employment:

 Full-time regular employee: works the foundation’s normal full-time work week on a regular basis at an established salary level. The employee may be exempt or non-exempt based on the position. Generally the full-time regular employee is eligible for coverage under the benefit plans and time off policies of the foundation.

 Part-time regular employee: works a regular work schedule that is less than the foundation’s normal full-time work week at an established salary level, and is either exempt or non-exempt based on the position. Eligibility for coverage under the benefit plans and time off policies is determined by the hours a part-time employee is regularly scheduled to work each week and the applicable provisions of the individual benefit plans and policies.

 A temporary employee is hired for a specified duration, generally on a full-time basis in an exempt or non-exempt position. A temporary employee is not eligible for coverage under the foundation’s benefit plans except where mandated by law, but will be paid for designated holidays. If the temporary position extends for a period greater than six (6) months, the foundation may, at its sole discretion, provide a limited number of PTO days.

Overtime

In compliance with U.S. wage and hour laws, overtime payment is made for employees in positions designated as non-exempt under the Fair Labor Standards Act. Overtime is paid at one and one-half times the base rate of pay for time worked over forty (40) hours in a work week.

This policy statement is not a contract of employment. The Wallace Foundation reserves the right to change or revoke this policy statement at any time without notice.

Categories of Employment/Overtime October 2016