Hard savings definition

Hard savings means savings that directly reduce the overall cost of operations for the negotiated period of savings. Examples of hard savings include:
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Examples of Hard savings in a sentence

  • Hard savings means savings that directly reduce the overall cost of operations.

  • Hard savings, on the other hand, is easier to measure because the data are “directly quantifiable through concrete measurement data”.

  • More information on how to compute the IRR can be found at http://www.webtorials.com/abstracts/MetzlerPresentation1.htm 4 http://en.wikipedia.org/wiki/Internal_rate_of_return5 Hard savings refers to a verifiable reduction is spending such as the reduction that results from canceling an MPLS service.

  • Hard savings are measured by comparing the final cost negotiated with a reference cost, for example, a cost paid at a previous period.

  • Hard savings result in lower dollar or manpower levels than were previously approved in program budget documents.

  • Hard savings were the benefits that could be realized immediately and without question.

  • Hard savings targets are factored into this budget plan to deliver efficiency gains across the four year period.

  • Hard savings, however, are directly quantifiable through concrete measurement data (Dmytrenko, 1997) and can be immediately linked to firm performance (so called bottom line impact).

  • Hard savings take precedence in making investments with particular emphasis on savings in reduced labor, fewer errors, and inventory carrying cost.

  • Hard savings are further categorized as either “realized” (current year) or “budgeted” (budget year).

Related to Hard savings

  • Cost Savings has the meaning assigned to it in the definition of “Consolidated EBITDA”.

  • Energy Savings means an amount of saved energy determined by measuring and/or estimating consumption before and after implementation of an energy efficiency improvement measure, whilst ensuring normalisation for external conditions that affect energy consumption;

  • Tax Savings means the difference between the dollar amount of real property taxes levied in any year on land valued and assessed in accordance with its current agricultural use value and the dollar amount of real property taxes that would have been levied upon such land if it had been valued and assessed for such year in accordance with Section 2 of Article XII, Ohio Constitution.

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Collateral savings, as used in this clause, means those measurable net reductions resulting from a VECP in the agency's overall projected collateral costs, exclusive of acquisition savings, whether or not the acquisition cost changes.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Salary reduction plan means a benefit plan whereby state and

  • Company Matching Contributions means the Company contributions described in Section 3.4.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Freeze means temperature maintained thermostatically between -20 degrees and -10 degrees Celsius (-4 degrees and 14 degrees Fahrenheit).

  • Maximum Generation Emergency Alert means an alert issued by the Office of the Interconnection to notify PJM Members, Transmission Owners, resource owners and operators, customers, and regulators that a Maximum Generation Emergency may be declared, for any Operating Day in either, as applicable, the Day-ahead Energy Market or the Real-time Energy Market, for all or any part of such Operating Day. Maximum Run Time:

  • Plan 3 means the teachers' retirement system, plan 3

  • Excess Contribution means a contribution that exceeds the

  • Plan 2 means the teachers' retirement system, plan 2

  • Basic health plan model plan means a health plan as required in RCW 70.47.060(2)(e).

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Guaranteed energy savings contract means a contract that includes all of the following:

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.