25 NCAC 01D .1929         HOURLY RATE OF PAY

(a)  An employee's hourly rate of pay is obtained by dividing the annual salary by 2080 hours (52 weeks multiplied by 40 hours per week).

(b)  The rate that must be used in computing overtime is referred to as the regular hourly rate.  The regular hourly rate must include all remuneration for employment paid to, or on behalf of, the employee, except payments specifically excluded by the Federal Fair Labor Standards Act. 

History Note:        Authority G.S. 126‑4;

Eff. January 1, 1989;

Amended Eff. March 1, 2005;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 20, 2015.