HRCI: SPHR/PHR -- Total Rewards 2024

Davis-Bacon Act - Requires contractors using federal funds to pay wages and fringe equal to or greater than the local market wage What is the HR Significance of the Davis-Bacon Act? - Applies if receiving federal funds for work or projects Walsh-Healey Act - Establishes the time-and-a-half overtime rule for hours in excess of 40 in a week for nonexempt employees What is the HR Significance of the Walsh-Healey Act? - Must properly classify employees and track hours worked for nonexempt employees Portal-to-Portal Act - Created general rules for compensatory time What is the HR Significance of the Portal-to-Portal Act? - Understanding when employees are on "company time" for pay purposes and when developing policy Dodd-Frank Wall Street Reform and Consumer Protection Act - Creates rules for executive compensation to include reporting and provisions for recapturing certain compensation in cases of misconduct or highly substandard performance What is the HR Significance of Dodd-Frank Wall Street Reform & Consumer Protection Act? - Important when establishing executive compensation packages and employment contracts Sarbanes-Oxley Act (SOX) - Places restrictions on executives and administrators of benefits plans within public companies to prevent certain transactions that would create unfair or illegal business earnings for benefits programs such as company stock What is the HR Significance of Sarbanes-Oxley Act (SOX)? - Necessitates the monitoring of plans and ensuring compliance by all company leaders that are involved with benefits plans Lilly Ledbetter Equal Pay Act (EPA) - Affirms equal pay for equal work regardless of gender and provides recourse and legal avenues in cases of discrimination What is the HR Significance of the Lilly Ledbetter Act? - Requires policies and procedures to ensure that men and women in the company are not paid at different wage rates in the same jobs with similar experience and qualifications Uniformed Services Employment and Reemployment Rights Act (USERRA) - Provides provisions for members of the Armed Services called to military service to allow returning to civilian work upon completion of their duty What is the HR Significance of USERRA? - Has special tracking and monitoring consideration of any individual that is serving in the Armed Forces and was required to give up their civilian employment Consolidated Omnibus Budget Reconciliation Act (COBRA) - Provides employees and dependents the ability to maintain continuous healthcare coverage in the group plan by covering the employer cost and additional admin fee What is the HR Significance of the COBRA? - Requires notification of rights under this law to all employees accepting healthcare benefits and notice upon a qualifying event of eligibility Health Insurance Portability and Accountability Act (HIPAA) - to promote a more efficient healthcare system by reducing administrative costs.