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Re: Obammy Slashes Four Hours Off Definition of "Full-Time" Employment

By: Decomposed in ROUND | Recommend this post (0)
Tue, 23 Oct 12 5:53 PM | 49 view(s)
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Msg. 44735 of 45651
(This msg. is a reply to 44731 by capt_nemo)

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Wow! I hope you don't mind my carrying this story over to POPE. It has clear political implications. 




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Obammy Slashes Four Hours Off Definition of "Full-Time" Employment
By: capt_nemo
in ROUND
Tue, 23 Oct 12 3:17 PM
Msg. 44731 of 45651

The BLS Glossary defines full-time workers as "Persons who work 35 hours or more per week".

For monthly reporting, the BLS defines part-time as "those who worked 1 to 34 hours during the survey reference week". With that wording, I am not precisely sure where 34.1 or 34.5 hours fit.

Interestingly, the Obamacare mandate says Anyone Who Works 30-Hour Week Is Now 'Full-Time'

A little-known section in the Obamacare health reform law defines “full-time” work as averaging only 30 hours per week, a definition that will affect some employers who utilize part-time workers to trim the cost of complying with the Obamacare rule that says businesses with 50 or more workers must provide health insurance or pay a fine.

“The term ‘full-time employee’ means, with respect to any month, an employee who is employed on average at least 30 hours of service per week,” section 1513 of the law reads. (Scroll down to section 4, paragraph A.)

If an employer has 50 or more "full-time employees" and does not offer health insurance, it must pay a penalty per employee for each month it does not offer coverage.

Lookback Period Three Months To One Year

The IRS has a publication on Determining Full-Time Status for Purposes of Shared Responsibility for Health Coverage. The key to explaining the recent jump in part-time employment is found in the look-back period.

Under the look-back/stability period safe harbor method, an employer would determine each employee’s full-time status by looking
Read more at http://globaleconomicanalysis.blogspot.com/2012/10/obama-slashes-four-hours-off-definition.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29#hYxQsYe6kur8FfbG.99


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