Common use of Calculation Examples Clause in Contracts

Calculation Examples. Wellness Calculation - Example 1: a. A teacher’s paycheck shows five hundred sixty-eight (568) unused sick leave hours. b. The teacher converted eighty (80) hours to $2,039.50 for Career Transition Trust through their retirement date. c. The teacher’s daily rate of pay was $239.94. The daily rate of pay equals the annual salary divided by one hundred ninety (190) duty days. The annual salary is $45,588; and $45,588/190 days = $239.94. d. 568 Balance of unused sick leave hours e. + 80 Plus Career Transition Trust hours used through retirement date f. 648 Total sick leave hours (568 + 80) g. 89 Divide by 7.25 to equal unused sick leave days (648/7.25) h. 44.5 Divide by 2 to equal 50% of unused sick leave days (89/2) i. $10,677.33 Multiply 50% of unused sick leave days by daily rate of pay (44.5 x $239.94) j. - $2,039.50 Subtract Career Transition Trust dollars paid through retirement date k. $8,637.83 Total wellness amount ($10,677.33-$2,039.50)