AboutShirley McAllister, CPP, PHR Expertise I can answer payroll questions, payroll tax questions, 401K questions. No stock option questions please and I have some knowledge of other pensions but am most familiar with the 401K pension.
I can answer U.S.and Canada payroll questions proficiently and have a good general knowledge of UK and South Africa and some knowledge of Australia and New Zealand Payroll procedures.
Please do not ask me homework questions I do not have time to answer them.
Experience 25 years with an international company in the Human Resources, Payroll and Payroll Tax areas.
Organizations SHRM, APA, I.O.M.A.
Publications I.O.M.A. and BNA
Education/Credentials P.H.R., C.P.P., Canadian Payroll Administrator, Successfully passed APA class on UK Payroll Administration.
Boise State University Human Resource Certification
Awards and Honors APA Hotline Citation of Merit for last 8 years.
I live an work in IL and accepted a non-exempt salaried position based on the monthly salary annualized in the offer letter (ex. $4000 per month, which annualized equates to $48K). We are paid bi-monthly and my hourly pay is calculated using an 86.67 hour pay period instead of the standard 80, employees earn 6.67 hours of paid time off monthly. It seems like my employer is under paying me for all time worked and charging me for PTO that reduces my net earnings. How is hourly salary calculated when only a monthly/yearly salary was noted sans explanation or addendums?
Thank you,
Sylvia
Answer There are 52 weeks in a year...and 40 hours in a week. So you have to take 52 x 40= 2080 working hours in a year.
You are paid a pay period which is twice a month so that is 24 times a year. So to get a salaried amount you have to divide 2080 hours by 24 payperiods. 2080 divided by 24 = 86.67. If you take 86.67 X 24 pay periods it is 2080 hours.
This is where the 86.67 comes from.
Is you earn 80 hours a year (2 weeks) PTO than you have to divide the 80 hours by 12 months. So 80 divided by 12 is 6.67 per month.
This is where the 6.67 comes from.
This is absolutely correct for a twice a month pay period which is actually called a semi-monthly pay period.
