Fidelity Hit with Former Employee’s Wage and Hour Suit

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A former employee of Fidelity Investments, FMR LLC, and Fidelity Brokerage Services LLC has filed suit against the defendants over claims that they failed to properly calculate her overtime pay. She claims her overtime wages did not account for her full regular rate of pay because the defendants failed to include bonuses, student loan repayment, and “fitness reimbursement” in their calculations. According to the suit, the defendants will pay their employees up to $2,000 per year to pay off student loans if they meet certain requirements and will award them up to $300 per year for fitness expenses, including gym memberships, home exercise equipment, and fitness watches. The suit argues that this extra income, plus earned bonuses, should have been included as part of each employee’s “regular rate” of pay when calculating overtime wages.

Additionally, the complaint argues that the defendants violated California state law by failing to include the amount of available paid time off (PTO) on employees’ itemized wage statements. The plaintiff says upon her separation from Fidelity, the company claimed she owed it money for “taking too much PTO,” but failed to warn her of how many days she had left before she took them.