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  1. #14
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    Apr 2012
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    Quote Originally Posted by tuba View Post
    Has anyone here ever worked for a company where any hours worked over 40 in a week get "banked" for use at a later date, like when things slow down before cooling or heating season hit? I had never heard of this before and was curious how it works and if it is legal........

    Its called "comp time" and I've heard of companies doing it. The employee gets the shaft because usually its 1 for 1.

    What happens if you get laid off or move on to a better job ? Do they compensate you for all that OT ??

    Nope.

  2. #15
    Join Date
    Aug 2006
    Location
    Columbus Ohio
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    1,977
    I used to do it at a residential company. 1hr OT was comped at 1.5hrs vacation. It was put on our checks weekly so it was all above the boards.

    Worked out great for taking long weekends.
    UA LU189

    10mm, because it's better than .45acp

  3. #16
    Join Date
    Oct 2003
    Location
    Minnesota
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    1,337
    Quote Originally Posted by tuba View Post
    Has anyone here ever worked for a company where any hours worked over 40 in a week get "banked" for use at a later date, like when things slow down before cooling or heating season hit? I had never heard of this before and was curious how it works and if it is legal........
    Back in the 90's I worked for a company which allowed such and had provisions for it.

    Personally, I liked it.

    But, keep in mind, it was a VOLUNTARY thing. They did not force you to bank the time, under their rules they could not force you. And it was all above board. That is it was tracked and accounted for formally.

    i.e. When I worked any extra time I had an option. I could simply record it and count the time as regular time for the 8 hrs, plus overtime done after that. And get paid accordingly. Or, when filling out my time sheet I could record 8 hrs as regular pay, then record time after that using a code which meant I was banking those hours. I'd get a check for the hours I claimed pay for, and a computer generated form indicating I had N number of banked hours.

    Banked hours could be carried over week to week, month to month, but NOT from year to year. If you hadn't used those banked hours at the end of the year, you got an extra pay check for the unused hours.

    As an example:
    Monday: 8 hrs regular pay claimed. 4 more hours banked.
    Tuesday: 8 hrs regular pay. 2 more hours banked.
    Wednesday: 8 hrs regular pay.
    Thursday: 8 hrs regular pay. 2 more hours banked.
    Friday: Insert 8 hrs banked time here. Gone fishing.

    Fact was, I preferred that method. Would rather have the long weekend as versus the extra pay. Besides, as my wife once pointed out to me, she does the family accounting/book keeping, the extra taxes I paid due to actually collecting the money at overtime rates were such that effectively I wasn't pocketing 1.5 times my hourly rate.

    Now, could I have found use for the extra money? Sure. But did I NEED the extra money I'd have gotten for claiming the over time? Nope. In fact I specifically kept our household budget managed such that we NEVER had to count upon over time hours to make ends meet and pay the bills. Would have done that even if I'd collected the over time pay. I've seen to many guys start counting upon over time pay as necessary income. And have it come back and bite em in the a**.

    And in truth, I much preferred and enjoyed extra days off.

    Heck, I had weeks where by Wednesday ... I was done. 24 hrs claimed for regular pay. Another 16 banked. Called boss and said, "Okay, I'm done for the week. Gone fishing."

    However, that was back then, working for that company.

    I'd be cautious these days about such things. Folks I work for now don't have such formalized rules and system. So any time I work extra hours that'd normally be classed as overtime, but instead elect to defer the hours and put em on another day's hourly reporting as regular time ... it's an unofficial "gentleman's agreement" between myself and certain guys I work for. Guy's I specifically trust to keep their end of the bargain. Since there is no "official" way in this company's accounting system to do such things.

    But there are others in the company, who if I work on their projects, I'd not trust to keep their end of the bargain. So I either simply stop work at the end of regular hours, or would claim the overtime pay.

    Personally, my opinion has not changed over the years ... I'd still rather have the extra days off as versus the extra 50% (minus the extra taxes). However the folks I work for don't have the formal system the old employer had. So these days such arrangements are under the table, and based upon trust. And I don't trust just anybody and everybody. A few of the various folks I do work for, certainly not all of them.
    A site where I stash some stuff that might be interesting to some folks.
    http://cid-0554c074ec47c396.office.l...e.aspx/.Public

  4. #17
    Join Date
    Oct 2011
    Location
    N.E. Indiana
    Posts
    879
    I'd still rather have the extra days off as versus the extra 50% (minus the extra taxes).
    My OT pay meets or exceeds my regular hourly pay a year. I don't care for all the OT, but we have to do what needs done, right?

    I can't imagine letting 1/3 of my OT pay evaporate because I would rather have the time off. I worked hard for that money, and it's mine.

    Thats in the same vein as working 12 hours two days in a row, and getting the third day off so OT pay is avoided.

    No thanks.

  5. #18
    Join Date
    May 2008
    Location
    Missouri
    Posts
    3,323
    If you are an hourly paid employee, don't think this is legal anymore. If you are salaried, then don't really know about legality, but imagine that it would be some way to compensate for needing to work past quiting time as generally salaried is not paid any O.T..I'd NEVER try to get hourly employees to go along with "banked" overtime as you'd get an audit from wage and hour folks the first guy you fired, regardless of reason.

  6. #19
    Join Date
    Sep 2008
    Location
    Wisconsin
    Posts
    88
    I think state employment laws trump any "banking" arrangement an employer would like to set up. Overtime is overtime and according to state law usually should be paid as such.
    It's not going to fix itself...

  7. #20
    Join Date
    Apr 2012
    Posts
    29
    The way I look at it is this: if I work 32 hours on one week I want paid 32 hours. If I worked 45 hours one week I want paid 40 hours and 5 hours over time. I give you an honest working week I want paid an honest working week. Moving hours from one week to another is against the law. Having them bank hours will make it easier to screw you. If your cutting off hours from extra hours worked on your last day of the week is fine and not against the law.

  8. #21
    Join Date
    Nov 2007
    Location
    Sherman, TX
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    9,441
    Quote Originally Posted by freemind View Post
    Thats in the same vein as working 12 hours two days in a row, and getting the third day off so OT pay is avoided.

    No thanks.
    Totally legal under Federal Law....
    Technical incompetence is NOT a sales tool....

  9. #22
    Join Date
    Dec 2006
    Posts
    280
    I thought this thread meant working bankers hours when I saw it... I guess if you don't need the OT and can financially swing it to take time off instead, then sure why not. If this was the case, I would make sure that my banked hours can be used when I want or added to vacation or sick time.

    I don't know if I would ever work for a company that made this mandatory, but I've always had anything after 8 hours as OT, even if I only work 32 hours a week. I've also never had to worry about being able to get less than 40hrs in the field either, so.

    FWIW, I'm out of the field and working at least 50-55 hours a week instructing and doing prep/admin work. Contract salary makes me miss OT a little. Fortunately, I do most of my prep time from home while watching tv in my pj's or forever lazy, so that has to be worth something.

  10. #23
    Join Date
    Oct 2003
    Location
    Minnesota
    Posts
    1,337
    Quote Originally Posted by freemind View Post
    My OT pay meets or exceeds my regular hourly pay a year. I don't care for all the OT, but we have to do what needs done, right?

    I can't imagine letting 1/3 of my OT pay evaporate because I would rather have the time off. I worked hard for that money, and it's mine.
    And that's fine. Wonderful.

    I fully support your ability to make that decision. And agree with you that you are due what you've earned IAW the contract between you and your employer.

    Did you miss where I mentioned that the decision as to whether or not one took the OT pay or banked the extra hours ... to be claimed and used another day .... was VOLUNTARY?

    Heck anyone wanting to just take the OT pay, got it. No questions asked.

    In fact, most of the younger, less experienced ... and lower paid ... fellows opted to take the OT. And were often clamoring for and volunteering for even more OT.

    Wonderful! Great! I was all for them having more OT, myself. As much as they wanted.

    However, ......I......, did not particularly want or need the OT. My hourly rate was quite adequate for me to support my family comfortably with just my earnings from a regular 40 hour week.

    As stated, I was paid adequately.

    I enjoyed my ability to decide, "Okay, enough is enough. Hey, Boss, I'm done. I want to use up some of those banked hours. Next week looks like a low workload period. So I'm just gonna work 3 days and charge comp time against the other 2 days ... and enjoy a long weekend. If yah gotta call me in for something, just keep that in mind because I'll be charging you overtime for every bit of it."

    And that's the way it went. He didn't get to decide, I did. Oh, he could tell me that due to the work load demands that he couldn't afford to let me take that Thursday and Friday off. But if he decided that, he had to bite the bullet when I first counted 8 hrs "Comp Time" for each of those days, and then wrote in 8 hrs of over time for each day, in addition.

    He didn't like that. But there wasn't a darn thing he could do about it. It was in the rules, written rules ... contractual. After all, I'd originally been owed OT hours if I'd wanted to claim them.

    When earned/worked, I'd not wanted to claim them. But now, I wanted the darn time off. Could hear the fish calling my name. Boss had to decide if he really wanted me to work those two days bad enough to essentially pay me OT for all of it.

    Most of the time ... not.

    Most of the time once I let him know I was taking comp time off, the only way he was gonna call me back in was for an emergency service call.

    It's about choices. Back at that time and place of work, I could choose to decide to do things YOUR way, or the way I typically preferred.




    Thats in the same vein as working 12 hours two days in a row, and getting the third day off so OT pay is avoided.

    No thanks.[/QUOTE]
    A site where I stash some stuff that might be interesting to some folks.
    http://cid-0554c074ec47c396.office.l...e.aspx/.Public

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