Manage the defined benefit plan investments

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Reference no: EM133293264

Question 1

Employer Swifty Cleaners employs many high school students after school hours and weekends to work the customer counter. During the busy holiday season Swifty cleaners has the high school workers working over 40 hours per week. However, it has come to the the students' attention that they are not receiving overtime pay when the regular full time employees who work a variety of cleaning and customer counter functions are receiving overtime pay when working over 40 hour per week. Is Employer Swifty required to pay these part time high school workers overtime in any particular week?

Question 2

Pesty Printing Company has come on hard financial times due to technological changes in the industry. To save money until outstanding revenues come forth. Pesty has asked its few ng employees below to accept below the current minimum wage until the financial situation improves. Pesty employees out of loyalty have agreed to accept the below minimum wage wage. Does Pesty Printing Company have liability under the Fair Labor Standards Act?

Question 3.

Elder Employer has a defined benefit plan for their employees retirement and has hired a Fred fiduciary to manage the defined benefit plan's investments. Fred the fiduciary invests all the plan's assets in one stock, Apple stock known as Alphabet . However, due to current market conditions Alphabet stock has plummeted and the employees who are beneficiaries of this plan are concerned and come to you for advise as to what action they can take regarding this Fiduciary?

Reference no: EM133293264

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