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 and 549 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 or 549 of this chapter, will be properly
excluded from the regular rate.
