OT compensation calculation

[Anonymous]

novartis total compensation totals include things like the portion of FICA they pay , the 'value' of medical , the car & assorted bogus items that push compensation north of 100K & far above actual W-2's
will their figures have any basis on the OT payouts ?

 

[Anonymous]

The term 'highly compensated employee' is defined by the federal government:

Here's the likely definition - its the same one used to decide how employees are handled with regard to retirement and pension plans.

"Highly compensated employee. A highly compensated employee is an individual who:
Owned more than 5% of the interest in your business at any time during the year or the preceding year, regardless of how much compensation that person earned or received, or

For the preceding year, received compensation from you of more than $110,000 (if the preceding year is 2010 or 2011, $115,00 if the preceding year is 2012) and, if you so choose, was in the top 20% of employees when ranked by compensation."

So, even if you hit the $ limit - you must be in the top 20% to be considered Highly Compensated.

 

[Anonymous]

novartis total compensation totals include things like the portion of FICA they pay , the 'value' of medical , the car & assorted bogus items that push compensation north of 100K & far above actual W-2's
will their figures have any basis on the OT payouts ?

It's not NVS's defenition. It is what the court defined total compensation as.

 

[Anonymous]

It won't really matter because Novartis cuts a check for $99 Million to the court and then the court determines the reward to each affected group that has opted in and legal costs.

 

[Anonymous]

It's not NVS's defenition. It is what the court defined total compensation as.

question is where will the court receive it's information from ?

 

[Anonymous]

From the total compensation booklet you receive yearly:

"Compensation is much more than just a paycheck. At Novartis your "total compensation" consists of both money paid directly to you and contributions made on your behalf to the various Novartis Benefits Plans."

 

[Anonymous]

So basically everyone will be considered to make over $100,000? Bummer.

 

[Anonymous]

just another way Novartis is financially f...ing us over. We know that data is wrong and they don't have the cojones to admit it. Why should they? Their overpaid backsides can sit in first class and they send their kids to 20K/year kindergartens. Bitter? You betcha! I've made this company a boat load of cash.

 

[Anonymous]

just another way Novartis is financially f...ing us over. We know that data is wrong and they don't have the cojones to admit it. Why should they? Their overpaid backsides can sit in first class and they send their kids to 20K/year kindergartens. Bitter? You betcha! I've made this company a boat load of cash.

You did so with no P/L risk to yourself, a very high guaranteed salary, and perks that most could only dream of; not to mention the part-time hours. GIVE ME A BREAK!