Overtime - Frequently Asked Questions
Employees do not need to report overtime.
- If an employee reports time on BannerWeb: Report all hours physically worked on the Regular hours line.
- If an employee punches a time clock: The system uses recorded in and out times to calculate regular and overtime hours.
All hours worked will be calculated at the hourly rate. Then the overtime hours will have an additional calculation at “half-time” (50% of pay hourly rate.)
Example 1: An employee with a pay rate of $10/hour works 48 hours in one week.
Regular Pay 48 hours @ $10.00/hour = $480.00
Overtime 8 units @ $5.00/hour* = $40.00
Total Pay = $520.00
Example 2: An employee with a pay rate of $10/hr works 40 hours and has an 8-hour vacation day.
Regular Pay 40 hours @ $10/hr. = $400.00
Vacation Pay 8 hours @ $10/hr. = $80.00
Total Pay = $480.00
No overtime is calculated because the employee did not actually work over 40 hours in the week. The 8 hours of vacation pay do not count towards the 40-hour threshold.
Example 3: An employee with a pay rate of $10/hr works 42 hours and has an 8-hour sick day.
Regular Pay 42 hours @ $10/hr. = $420.00
Overtime 2 units @ $5/hr. = $10.00
Sick Pay 8 hours @ $10/hr. = $80.00
Total Pay = $510.00
The employee actually worked 2 hours over the 40-hour threshold. Overtime was calculated for 2 hours.
Using the previous example of an employee who worked 48 hours in one week and assuming he only worked one week in the pay period, earnings on his stub would appear as follows:
Earnings
Job | Earnings | Shift | Hours or Units | Rate** | Amount | YTD Amount | |
Holiday Pay | 1 | $811.89 | |||||
Inclement Weather I--Non-Essen | 1 | $275.00 | |||||
Overtime Pay (half-time rate**) | 1 | 8 | $10.00 | $40.00 | $40.00 | ||
Regular Pay | 1 | 48 | $10.00 | $480.00 | $2,282.75 | ||
Total: | $520.00 | $3,409.64 |
**Rate indicates the regular pay rate for the position regardless of how the earnings code uses the rate to calculate earnings - as is the case with the Overtime Pay earn code calculating at 50% of the regular pay rate.
The system displays up to six decimals for the overtime rate. When rounded to two decimals it will match the regular pay rate.
Questions should go to your supervisor first. If questions remain, contact the payroll department at payroll@richmond.edu or call (804) 287-6077.