Common use of Payroll Year Clause in Contracts

Payroll Year. The words “payroll year” when used in this Agreement shall mean twenty-six (26) or twenty-seven (27) pay periods in the year, commencing the first day of pay period one (1) and ending on the last day of pay period twenty-six (26) or twenty-seven (27) when there are twenty-seven (27) pay periods in the year.

Payroll Year. The words “payroll year” when used in this Agreement shall mean twenty-six (26) or twenty-seven (27) pay periods in the year, commencing the first day of pay period one (1) and ending on the last day of pay period twenty-six (26) or twenty-seven (27) when there are twenty-seven (27) pay periods in the year. The words "payroll year" shall also mean the pay periods used by the City to determine gross earnings paid within those periods for the purposes of producing yearly earnings statements for income tax purposes.