Stamford, CT (PRWEB) May 15, 2008
HR & Benefits Essentials (http://www.HRandBenefits.com), the award-winning online Employment Law and Employee Benefits business library, has released a Special Report explaining the new State and Federal Minimum Wage rates and laws set to change in July 2008.
"Our goal is to provide brokers and their clients with vitally important information that businesses need every day. There appears to be some confusion regarding application of the Federal versus the State Minimum Wage. Brokers often ask, on behalf of their clients, where they can find more information about the Minimum Wage rates in their states. In response, we have prepared this Special Report, to clarify the State and Federal Minimum Wage rate information." comments Lillian Shapiro, Partner HR & Benefits Essentials.
To obtain a copy of the 2008 Minimum Wage Report free of charge, simply go to http://www.HRandBenefits.com and click on the link, Free Minimum Wage Report or email tom @ benefitsessentials.com.
State and Federal Minimum Wage Rates
The Fair Labor Standards Act (FLSA) establishes federal standards for minimum wages, overtime pay, record keeping and child labor. These standards affect more than 100 million workers, both full time and part time, in the private and public sectors. FLSA amendments last year set the Federal Minimum Wage Rate to increase in three steps: to $5.85 per hour effective July 24, 2007; to $6.55 per hour effective July 24, 2008; and to $7.25 per hour effective July 24, 2009.
The minimum wage rates in many States will also increase in July. Even states that have no prescribed state minimum wage rate, such as Alabama, Louisiana, Mississippi, South Carolina, and Tennessee, will be affected. For these states, the new Federal Minimum Wage rate will apply. In other states, where there is a state-legislated minimum, but it is now lower than the federal rate, the new Federal minimum wage rate will also take effect.
Some states, including Oklahoma, Texas, Utah, and Virginia, have minimum wage legislation on the books, but the State minimum wage law does not contain current dollar amounts. Instead, those States adopt the Federal minimum wage rate by reference, or via administrative action. These states will all be subject to the new federal rate of $6.55 per hour, effective July 24, 2008. Several states, including Washington, key their Minimum Wage to The Consumer Price Indexes (CPI). Still other states, including the Commonwealth of Massachusetts and the District of Columbia, key their rates to the federal rate, but have legislated a built-in increase (from 10 cents to one dollar) above the rate set in the Fair Labor Standards Act if the Federal minimum wage equals or becomes higher than the State minimum.
All of these scenarios are sorted out and clarified in the Report. The Report also includes numerous resources and links to additional information, such as Minimum Wage FAQs, General Information on the FLSA, the History of Changes to the Minimum Wage Law, Workplace Forms and Posters, including the Fair Labor Standards Act (FLSA) Minimum Wage Poster, Notice to Workers with Disabilities Special Minimum Wage Poster, WH-200, WH-201, and WH-202 (for certain Student-employees), and more.
For more information, please visit HR & Benefits Essentials at http://www.HRandBenefits.com.
About HR & Benefits Essentials
HR & Benefits Essentials (http://www.HRandBenefits.com) is an award-winning online business library, providing comprehensive, easy-to-navigate human resources and employee benefits news and information. The site includes thousands of pages of content and hundreds of downloadable forms. It covers employee benefits and more - including Human Resources and employment topics, such as: recruiting and hiring, employee testing, EEO and discrimination, vacation & leave policies, employee termination issues, tax, retirement and estate planning issues. A panel of experts explains and analyzes complicated federal laws and confusing acronyms-such as COBRA, ERISA, ADA, FLSA, FMLA, HIPAA and others.
HR & Benefits Essentials, headquartered in Stamford, CT, was established in 1999 to provide employee benefits compliance information services to HR, benefits and insurance professionals, as well as to company managers and their advisors.
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