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https://www.reddit.com/r/personalfinance/comments/3j5vbz/can_employers_bank_hours/
Yes, this just comes down to payment structure. Salaried? They're not entitled to pay you for your 40 hours a week, but likewise you can bank those hours and roll it over to only work 30 hours the next week. However, if it's wage... then you're entitled to overtime and should really be getting that money ASAP.
https://www.yourpayrolldept.com/can-i-bank-overtime-pay-or-time-in-lieu-for-my-employees/
Apr 10, 2019 · Many employers will allow or even force their employees to bank overtime hours to avoid paying out 1.5 times their normal hourly rate. However, under the provisions of the Fair Labor Standards Act, banking excess hours worked for non-exempt employees as comp time or paying them at the regular rate on future paychecks isn’t allowed.Author: Heather Palermo
https://www.curleyrothman.com/blog/can-my-employer-pay-comp-time-instead-of-overtime
Mar 05, 2017 · The concept of “comp time” is relatively simple. Under a comp time system an employer allows a worker to “bank” hours worked over 40 hours in a workweek instead of paying the employee overtime. Those hours then become available for the employee to use down the road when the employee needs time off but doesn’t want to miss out on the income. For example, let’s say you worked 43 hours last week and 46 hours this week. Collectively, you worked nine hours …Estimated Reading Time: 3 mins
https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/banking-on-paid-time-off.aspx
Jan 08, 2017 · "Employers in California can have a PTO bank, but they have to earmark certain days as sick days," Fuerstenberg said. "Employers may start to wonder why they are using a PTO bank if they have to ...Author: Joanne Sammer
https://www.businessmanagementdaily.com/33853/can-employees-bank-ot-hours-for-extra-leave/
Dec 12, 2012 · A. It sounds as if you have created an informal comp time program. If you are a private employer (as opposed to a governmental agency), then it is not permissible to provide this “overtime bank ...Estimated Reading Time: 1 min
https://www.quora.com/Is-it-legal-to-let-employees-bank-extra-time-from-one-pay-period-to-use-in-another-instead-of-paying-overtime
If you are an non-exempt employee (I see you live in Florida), work in Florida and work more than 40 hours in a week, any hours worked in excess of 40 must be paid (emphasis on the word ‘paid’) at a rate of one and one half times your regular hourly rate. So says the federal law. Your employer cannot ‘bank’ your overtime.
https://www.dol.gov/agencies/whd/flsa/pandemic
Employers are required to maintain an accurate record of hours worked for all employees—including those participating in telework or other flexible work arrangements—and to pay no less than the minimum wage for all hours worked and to pay at least one and one-half times the employee’s regular rate of pay for all hours worked more than 40 in a workweek to non-exempt employees.
https://www.justanswer.com/uk-employment-law/4m633-current-employer-operate-banked-hours-scheme-means.html
Feb 18, 2011 · My current employer operate a banked hours scheme. this means that when there are low volumes of work we dont come in.
https://money.usnews.com/careers/articles/workplace-laws-your-employer-may-be-violating
Jun 21, 2021 · The Fair Labor Standards Act requires employers to pay nonexempt employees overtime pay when they exceed 40 hours of work in a single workweek. Some states have more restrictive laws on the books.
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