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Craft bonuses carefully

by on
in Human Resources

When a financial analyst changed jobs, he left behind $120,000 in bonuses. The bonus plan paid benefits in quarterly installments but was contingent on continued employment with the company. A New York court rejected the employee's argument that the bonus equaled wages to which he was entitled. (Truelove v. Northeast Capital & Advisory Inc., No. 99, N.Y. CA, 2000) Check your state law carefully when developing bonus plans, because they vary as to what types of pay are protected. Also, under federal law some types of bonuses can affect overtime pay.

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