Family And Medical Leave Act - FMLA
 |
Definition of 'Family And Medical Leave Act - FMLA'The Family and Medical Leave Act (FMLA) was signed into law on August 5, 1993 by President Bill Clinton. The FMLA is a labor law requiring larger employers to provide employees unpaid leave for serious health conditions, to care for a sick family member, or to care for a newborn or adopted child. |
 |
Investopedia explains 'Family And Medical Leave Act - FMLA'An employee who takes unpaid leave that falls under the FMLA is job-protected; that is, the employee can return to the same position held before the leave began. If the same position is unavailable, the employer must provide a position that is substantially equal in pay, benefits and responsibility. To qualify for FMLA, an employee must be employed by a business with 50 or more employees within a 75 mile radius of his or her work site. The employee must have worked for the employer for at least 12 months and 1,250 hours within the last 12 months. The FMLA mandates unpaid, job-protected leave for up to 12 weeks a year. |
Related Definitions
Articles Of Interest
-
Building An Emergency Fund
Do you have enough savings to cover the costs of unforeseen crises? We show you how to plan ahead. -
Live Longer, Retire Younger: Can You Do It?
Use this vehicle to make sure your payout lasts as long as you do. -
Pay Attention To The Proxy Statement
Don't overlook this overview of a company's well-being. -
Lessons On Corporate Dividend Payout And Retention Ratio
Why are dividend payout and retention ratios important to consider when investing in company stock? What companies have high ratios?What constitutes a high dividend payout and retention ratio? ... -
Conglomerates: Cash Cows Or Corporate Chaos?
Huge companies may not be as infallible as previously assumed. Find out why bigger isn't always better. -
Cashing In On Corporate Restructuring
Companies use M&As and spinoffs to boost profits - learn how you can do the same. -
The Causes And Costs Of Absenteeism
Playing hooky to play golf may feel harmless, but the accumulated effect of absenteeism hurts businesses' bottom line. This article looks at the causes of absenteeism, the costs of lost productivity ... -
A Peek Into Shareholder Meetings
Shareholder meetings can be glamorous, exciting or controversial, but not particularly revelational. Here's a quick look at what to expect. -
Maintaining Work/Life Balance For Financial Professionals
Maintaining work/life balance is a challenge for most professionals in the finance industry, but it doesn't have to be that way. -
4 Traits Banks Look For In New Staff
Trust is the number one trait that banks are looking for in new hires, but there are other abilities that are equally desired.
Free Annual Reports