Covered Salary means that portion of a Participant’s monthly Base Earnings which such Participant elects as a basis for Deferrals on such Participant’s Plan Agreement.
Covered Salary means the amount specified in Item 1 of the Plan Agreement that is used as a basis for computation of Participant's Death and Retirement Benefits pursuant to the terms and conditions of the Plan.
Covered Salary means a Participant's Base Annual Salary and bonuses which serves as a basis for computation of the Retirement, Survivor or Termination benefits pursuant to the terms and conditions of this Plan.
Examples of Covered Salary in a sentence
Notwithstanding Section A above, in no event will your monthly Predisability Earnings exceed either the monthly salary for which premiums have been paid or the Maximum Monthly Covered Salary.
Both are determined by the definition of Monthly Covered Salary Rate.
Multiply the premium rate by your gross Monthly Covered Salary Rate up to $14,286 per month.
The Exceptional Differential will begin on or before September 1, 2023.
Premium is based on your age on the January 1 preceding or coinciding with the first day of your Qualified Leave, your Pre-Leave Monthly Covered Salary Rate and the length of your leave.
More Definitions of Covered Salary
Covered Salary means a Participant's Base Annual Salary and bonuses.
Covered Salary means that portion of a Participant's includable base annual salary, excluding bonuses or other fringe benefits, if any, which the Participant chooses as a basis for computation of his retirement or death benefits pursuant to the terms and conditions of the Plan.
Covered Salary means that portion of a Participant’s base annual salary excluding bonuses or other fringe benefits, if any, which the Participant chooses in the Participant’s Plan Agreement as a basis for computation of the Retirement or Death Benefit pursuant to the terms and conditions of this Plan.
Covered Salary means, effective July 1, 2003, employees’ regular and federal salaries for the current fiscal year plus supplemental salary payments received for the previous fiscal year, plus adjustments agreed upon by both the employer and the Teacher Retirement System. the portion, or all, of an employee's salary that is covered by the System. For each member who first became a member before July 1, 1971, his the covered salary for each year after June 30, 1969, is the first $7,800.00 of his the member’s total annual salary for all covered employment (Salary Option 2) unless he/she has elected to make contributions to the System on his full salary. For each member who first became a member after June 30, 1971, or has elected to make contributions on full salary, the covered salary is his or her full salary for all covered employment (Salary Option 1). If, however, a member making contributions only on the first $7,800.00 of his total annual salary (Salary Option 2) receives a refund of his contributions and subsequently returns to covered service as a noncontributory member, he or she shall be considered on full salary for reporting purposes (Salary Option 1). Should he wish to repay any refunds that include contributory service, he must pay the additional contributions due to change to full salary. A member whose salary for reporting purposes is $7,800.00, and who has not received a refund, may elect to change, effective July 1, 1986, to the noncon- tributory plan and from that date be considered on full salary for reporting purposes. Additional employer contributions for that period shall not be due from the member. However, if a member elects to make this change, he must pay the additional employee and employer contributions due on any service reported between July 1, 1969, and June 30, 1986.
Covered Salary means that portion of a Member's base monthly salary for the most recently completed calendar year, excluding bonuses or other special payments.
Covered Salary means the portion, or all, of an employee's salary that is covered by the system. For each member who first became a member before July 1, 1971 his covered salary for each year after June 30, 1969 is the first $7,800 of this total annual salary for all covered employment unless he has elected to make contributions to the system on his full salary. For each member who first became a member after June 30, 1971 or who has elected to make contributions on full salary, his covered salary is his full salary for all covered employment; provided, however, if a member who is making contributions only on the first $7,800 of his total annual salary receives a refund of his contributions and subsequently returns to covered service as a non- contributory member, he shall be considered on full salary for reporting purposes. However, should he wish to repay any refunds that include contributory service, he must pay the additional contributions due to change to full salary. Any former active member who returns to covered employment on or after July 1, 1995, and who elects to make contributions to the system shall contribute on his full salary.
Covered Salary means a Participant’s base annual salary excluding bonuses or other fringe benefits, if any, which the Participant chooses in the Participant’s Plan Agreement (at a level of either fifty percent (50%) or one hundred percent (100%)) as the basis for computation of the Retirement or Death Benefit pursuant to the terms and conditions of this Plan.