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 Direct Instruction hourly rate of pay shall be the greater of: 1) the Hourly Flat Rate per Schedule “E”, OR, 2) their Direct Instruction hourly rate determined by dividing their step and lane salary at 1.0 FTE per the salary schedule, by the contractual number of duty days per year (190), and further dividing that by the number of hours per day (7.25) at the time of retirement. At the time of retirement their Direct Instruction hourly rate is $38.48 per hour which exceeds the Hourly Flat Rate in Schedule “E”. 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. 324 Divide hours by 2 to equal 50% of unused sick leave hours (648/2 = 324) h. $38.48 Apply the hourly rate i. $12,467.52 Multiply 50% of unused sick leave hours by the Direct Instruction Rate of pay (324 x $38.48 = $12,467.52) j. - $2,039.50 Subtract Career Transition Trust dollars paid through retirement date k. $10,428.02 Total Wellness Pay amount ($12,467.52 - $2,039.50 = $10,428.02)