A law requiring companies making over $10million a year to put 10% back to the hourly workforce in the form of a profit sharing bonus based on hours worked. This bonus is calculated BEFORE any exectutive bonuses are calculated and deducted from the profit statement reporting to the government on the company's balance sheet be that company public or privately held. This bonus can be calculated and distributed on a monthly basis should the company desire but must be done every year by the end of January at a minimum.
Why is this important?
To require companies making over $10million a year to put 10% back to the hourly workforce in the form of a profit sharing bonus based on hours worked. This bonus is calculated BEFORE any exectutive bonuses are calculated and deducted from the profit.
