Defnition of Compensation Sample Clauses

Defnition of Compensation. Select your Defnition of Compensation here. If you The Defnition of Compensation is used to determine participant and employer contributions. Wages are strongly recommended to be reported with regular wage/contribution reports to MERS. Contributions cannot exceed IRS limitations.
Sample 1
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Defnition of Compensation. Select your
Sample 1
Defnition of Compensation. Select your Defnition of Compensation here. If you The Defnition of Compensation is used to determine participant and employer contributions. Wages are strongly recommended to be reported with regular wage/contribution reports to MERS. Contributions cannot exceed IRS limitations. choose to customize your defnition, skip this table and proceed to page 5. Base Wages Box 1 Wages X Gross Wages Types of Compensation Regular Wages Salary or hourly wage X hours PTO used (sick, vacation, personal, bereavement, holiday leave, or unclassifed) On-call pay All Regular Wages included All Regular Wages included All Regular Wages included Other Wages Shift differentials Overtime Severance issued over time (weekly/bi-weekly) Excluded All Other Wages included All Other Wages included Lump Sum Payments PTO cash-out Longevity Bonuses Merit pay Job certifcations Educational degrees Moving expenses Sick payouts Severance (if issued as lump sum) Excluded All Lump Sum Payments included All Lump Sum Payments included Taxable Payments Travel through a non-accountable plan (i.e. mileage not tracked for reimbursement) Prizes, gift cards Personal use of a company car Car allowance Excluded All Taxable Payments included All Taxable Payments included Reimbursement of Nontaxable Expenses (as defned by the IRS) Gun, tools, equipment, uniform Phone Fitness Mileage reimbursement Travel through an accountable plan (i.e. tracking mileage for reimbursement) Excluded Excluded Excluded Types of Deferrals Elective Deferrals of Employee Premiums/Contributions 457 employee and employer contributions 125 cafeteria plan, FSAs and HSAs XXX contributions All Elective Deferrals included Excluded All Elective Deferrals included Types of Benefts Nontaxable Fringe Benefts of Employees Health plan, dental, vision benefts Workers compensation premiums Short- or Long-term disability premiums Group term or whole life insurance < $50,000 All Nontaxable Fringe Benefts included Excluded All Nontaxable Fringe Benefts included Mandatory Contributions All Mandatory Contributions included Excluded All Mandatory Contributions included Taxable Fringe Benefts Clothing reimbursement Stipends for health insurance opt out payments Group term life insurance > $50,000 Excluded Excluded All Taxable Fringe Benefts included Other Benefts / Lump Sum Payments Workers compensation settlement payments Excluded Excluded All Other Lump Sum Benefts included Defined Contribution Plan Adoption Agreement Addendum EMPLOYER NAME: Superior...
Sample 1

Related to Defnition of Compensation

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Supplementation of Compensation Award ‌ If an employee is prevented from performing the employee's regular work with the City on account of an occupational accident that is recognized by the Workers' Compensation Board as compensable within the meaning of the Workers' Compensation Act, the City will supplement the award made by the Workers' Compensation Board for loss of wages to the employee by such an amount that the award of the Workers' Compensation Board for loss of wages (excluding non- economic loss payment), together with the supplementation by the City, will equal 100% of the employee's regular net wage (gross pay less statutory deductions, union dues and required benefit plan contributions). The said supplementation shall not be payable to any employee entitled to compensation after pension age if such an employee is entitled to an unreduced pension as provided under the Local Authorities Pension Plan or after the full age of 65 years if such an employee is not entitled to a pension. Subject to the foregoing limitation, the procedure to be followed in operating this policy shall be as follows:

  • 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.

  • Form of Compensation Compensation for overtime shall be paid except where, upon request of the Employee, and with the approval of the Employer, or its representative, overtime may be granted in the form of time off in lieu of overtime hours worked.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Overtime Eligibility and Compensation Employees are eligible for overtime compensation under the following circumstances:

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