Calculating the Value of Special Compensation Sample Clauses

Calculating the Value of Special Compensation. (Spec Comp). Beginning or earlier than July 1, 2011, the values of the following special compensation items are calculated using a compounding method that calculates them in the following order: (1) Longevity Pay; (2) Backflow Certification Pay (Education Incentive). Any other special compensation items are not included in the compounding calculation. If the employee receives one or more of the special compensation items subject to compounding referenced above, the one that is highest in the order above is calculated first, as the applicable percent of the base hourly rate of pay. For each additional special compensation item on the list above, the value shall be determined by multiplying the next one received in the above order as a percentage of the base hourly rate of pay plus the value of the special compensation items already calculated under this method. An example of the calculation method for a Water Systems Operator II who works eighty (80) hours in a two week pay period is as follows: Employee Base Hourly Rate $ 23.5398 Reportable Earnings @ 80 Hours $1,883.18 1. Longevity Pay (8.4020%) Spec Comp Earnings $ 158.22 2. Backflow Certification (5.5 %) (Education Incentive) Spec Comp Earnings $ 112.28 Section 18. Uniform & Maintenance Reporting to CalPERS.
Sample 1
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Calculating the Value of Special Compensation. (Spec Comp). Beginning or earlier than July 1, 2011, the values of the following special compensation items are calculated using a compounding method that calculates them in the following order: (1) Longevity Pay; (2) Supervising Librarian Pay (Supervisory Premium); (3) Fire Mechanic Pay (Education Incentive). Any other special compensation items are not included in the compounding calculation. If the employee receives one or more of the special compensation items subject to compounding referenced above, the one that is highest in the order above is calculated first, as the applicable percent of the base hourly rate of pay. For each additional special compensation item on the list above, the value shall be determined by multiplying the next one received in the above order as a percentage of the base hourly rate of pay plus the value of the special compensation items already calculated under this method. An example of the calculation method for a Librarian who works eighty (80) hours in a two week pay period is as follows: Employee Base Hourly Rate $ 34.1997 Reportable Earnings @ 80 Hours $2,735.98 1. Longevity Pay (8.4020%) Spec Comp Earnings $ 229.88
Sample 1
Calculating the Value of Special Compensation. (Spec Comp). Beginning or earlier than July 1, 2011, the value of the following special compensation items are calculated using a compounding method that calculates them in the following order: (1) Longevity Pay; (2) Education Incentive Pay; (3) POST Management Certificate Pay. Any other special compensation items are not included in the compounding calculation. If the employee receives one or more of the special compensation items subject to compounding referenced above, the one that is highest in the order above is calculated first, as the applicable percent of the base hourly rate of pay. For each additional special compensation item on the list above, the value shall be determined by multiplying the next one received in the above order as a percentage of the base hourly rate of pay plus the value of the special compensation items already calculated under this method. An example of the calculation method for a Police Lieutenant who works eighty (80) hours in a two week pay period is as follows: Employee Base Hourly Rate $66.1972 Reportable Earnings @ 80 hrs. $5,295.78 1. Longevity Pay (8.4020%) Spec Comp Earnings $ 444.95 2. AA Education Incentive (7.5 %) Spec Comp Earnings $ 430.55
Sample 1

Related to Calculating the Value of Special Compensation

  • Shift Differential Compensation Any employee in the bargaining unit whose assigned work shift commences (for unit-1) prior to 5:30 a.m. or whose work shift ends after 5:30 p.m., or (for unit-2 members) commences after 2:00 p.m. shall be paid a shift differential premium of five (5%) percent above the regular rate of pay for all hours worked.

  • Compensation for Holidays Falling Within Vacation Schedule If a paid holiday falls on or is observed during an employee's vacation period, he/she shall be allowed an additional vacation day with pay at a time mutually agreed upon by the Employer and employee.

  • Show-Up Compensation An employee who is scheduled for work and reports for work, except for situations addressed in Article 123--Inclement or Hazardous Conditions, and is released from work shall be paid the equivalent of two

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Determination of Service for Sick Leave with Pay Actual time worked and all leave with pay, except for educational leave, shall be included in determining the pro rata accrual of sick leave credits each month, provided that the employee works thirty-two (32) hours or more in that month.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Compensation for Unused Sick Leave 1. Employees who enter County service after July 1, 1979, shall not be eligible for compensation for any of their unused sick leave credits.

  • Compensation for Overtime 9.5.1 All overtime hours, except those overtime hours exceeding twelve (12) hours in one day, shall be compensated at a rate of pay equal to time and one-half the regular rate of pay of the employee. Those overtime hours exceeding twelve (12) in one day shall be compensated at a rate of pay equal to two times the regular pay of the employee.

  • Salary Determination 12.5.1 A unit member shall receive a salary not less than the minimum salary nor more than the maximum salary (Articles 12.3 and 12.4) for the rank to which appointed, except as provided in Articles 4.15, 5.6, 10.6.1 or Article 10.6.1.1. The effective dates for salaries shall be the appropriate dates specified in Article 12.2.2.

  • Indemnity Limitation for TIPS Sales Texas and other jurisdictions restrict the ability of governmental entities to indemnify others. Vendor agrees that if any "Indemnity" provision which requires the TIPS Member to indemnify Vendor is included in any TIPS sales agreement/contract between Vendor and a TIPS Member, that clause must either be stricken or qualified by including that such indemnity is only permitted, "to the extent permitted by the laws and constitution of [TIPS Member's State]” unless the TIPS Member expressly agrees otherwise. Any TIPS Sale Supplemental Agreement containing an "Indemnity" clause that conflicts with these terms is rendered void and unenforceable.

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