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Overtime Primer: Highlights from the New Regulations
The federal DOL overtime regulations go into effect this year. Are you ready?
This report includes a summary of key changes, including the salary level test and salary basis test.
As a bonus, we've included a handy flowchart to help you determine exemption status under the FLSA.
September 24, 2002
AARP Lists Top 15 Employers
"At a time of widespread reports of questionable corporate practices, these companies have shown a better side of business," said AARP President James Parkel, in announcing this year's honorees.
Parkel noted that Bureau of Labor Statistics figures show that while 13 percent of American workers today are 55 and older, that figure will increase to 20 percent by 2015. At the same time, Parkel said, the nation is expected to experience a drop in the percentage of younger workers aged 25 to 44.
The 2002 Best Companies for Workers aged 50 and over are:
* ABN AMRO North America, Inc. of Chicago.
* Baptist Health South Florida, Coral Gables.
* Prudential Financial Inc. of Newark, New Jersey.
* Howard University, Washington, DC.
* QUALCOMM, Inc. of San Diego, CA.
* CALIBRE of Alexandria, VA.
* The Stanley Group of Muscatine, Iowa.
* New York Life Insurance Company of New York.
* The Hartford Financial Services Group, Inc. of Hartford, CT.
* Adecco Employment Services of Melville, NY.
* DaVita, Inc. of Torrance, CA.
* Ultratech Stepper of San Jose, CA.
* MITRETEK Systems, Inc. of Falls Church, VA.
* The Aerospace Corporation of El Segundo, CA.
* Principal Financial Group of Des Moines, Iowa.
AARP lauded each of the awardees for excelling in each of the categories that were evaluated. AARP's criteria for the awards include recruiting (including former or retired employees), corporate culture (career development and training), continued opportunities, compensation, benefits (including health insurance), and retirement.
In regard to benefits, for example, AARP said Baptist Health South Florida, the largest not-for-profit health care organization in South Florida, offers flextime, job sharing, telecommuting and compressed work schedules. On continued opportunities for career success, the corporation encourages mentoring, offering bonuses for experienced nurses who coach newer colleagues.
AARP President Parkel noted that the employers are a diverse group, ranging in size and operating from six states and the District of Columbia.
"AARP is delighted that so many companies stepped forward this year to undergo a tough evaluation of their policies toward 50 and over workers." Parkel said. "The honorees have innovative practices that should serve as an important yardstick for other employers."
AARP announced Monday its second-annual list of 15 "Best Companies for Workers over 50."