Calculation of Percentage to be Applied to Years of Service Sample Clauses

Calculation of Percentage to be Applied to Years of Service. Each year of Past Service is credited at 1% (or ½% per Stabilization Period). Future Service is credited at 4% per year (or 2% per Stabilization Period). The percentage used to calculate your benefit can be a maximum of 150% (37.5 x 4 = 150). Effective with years of Future Service Credit earned starting with Stabilization Period 2018-A the multiplier will be increased from 4% to 4.5%. This is a prospective change that does not impact the multiplier used for prior years of Future Service Credit, does not change the multiplier for years of Past Service Credit, and does not change the maximum percentage of 150%.
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Related to Calculation of Percentage to be Applied to Years of Service

  • Years of Service (i) A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Calculation of Service 25.7 For purposes of calculating continuous service and active service, a year shall be deemed to consist of two hundred and sixty-one (261) working days.

  • Calculation of Annual Leave Pay Annual leave shall be paid at the employee’s ordinary weekly wage rate for ordinary hours for the period of annual leave (excluding shift allowances and weekend payments but including leading hand allowance); plus an amount equal to 17.5% of the amount

  • Reallocation to a Class with an Equal Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position, the employee remains in the position and retains existing appointment status.

  • Accumulation of Annual Leave A. During the first three (3) years of employment, a regular or limited term employee shall earn approximately five (5) hours and fifty-one (51) minutes of annual leave during each eighty (80) hour pay period (approximately one hundred fifty-two [152] hours per year), or a prorated amount for any pay period in which the employee is paid for less than eighty (80) hours.

  • Credited Service A year of “Credited Service” shall mean a calendar year in which the Participant is paid for at least 1,000 hours of service (as defined in the frozen Hasbro Pension Plan) as an employee of the Company or of a Subsidiary of the Company. A Participant does not need to be, or have been, a participant in the Hasbro Pension Plan.

  • COMPUTATION OF BACK WAGES No claim for back wages shall exceed the amount of wages the employee would otherwise have earned at the employee's regular rate less:

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Hours of Service The minimum number of Hours of Service an Employee must complete during a vesting computation period to receive credit for a Year of Service is: (Choose (c) or (d)) [X] (c) 1,000 Hours of Service.

  • 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.

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