---
kind: "section"
citation: "29 C.F.R. § 778.213"
title: "29"
number: "778.213"
heading: "Profit-sharing, thrift, and savings plans."
url: "https://uscodex.org/cfr/29/778.213"
---

# §778.213. Profit-sharing, thrift, and savings plans.


Section 7(e)(3)(b) of the Act provides that the term “regular rate” shall not be deemed to include “sums paid in recognition of services performed during a given period if * * * the payments are made pursuant to a bona fide profit-sharing plan or trust or bona fide thrift or savings plan, meeting the requirements of the Secretary of Labor set forth in appropriate regulations * * *”. Such sums may not, however, be credited toward overtime compensation due under the Act. The regulations issued under this section are parts [547](/cfr/29/part547.md) and [549](/cfr/29/part549.md) of this chapter. Payments in addition to the regular wages of the employee, made by the employer pursuant to a plan which meets the requirements of the regulations in part [547](/cfr/29/part547.md) or [549](/cfr/29/part549.md) of this chapter, will be properly excluded from the regular rate.


## Notes

### Authority

Authority: 52 Stat. 1060, as amended; 29 U.S.C. 201 et seq. Section 778.200 also issued under Pub. L. 106-202, 114 Stat. 308 (29 U.S.C. 207(e) and (h)).

### Source

Source: 33 FR 986, Jan. 26, 1968, unless otherwise noted.