Insured Salary definition

Insured Salary means the greater of:
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Insured Salary means the salary definition relating to the calculation of Lump Sum Benefit.
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Insured Salary means the salary definition relating to the calculation of basic benefit.
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Examples of Insured Salary in a sentence

  • The amount of the Group Income Protection benefit will be 50% of your Insured Salary which is the rate of annual basic salary at the time you first became unable to work or if greater your total earnings for the whole of the preceding tax year.

  • For those who subscribe according to their insured payroll-related amount claim with proof, [that amount] must be no less than either the highest level of the Insured Salary Grading Table of Labor Insurance or the highest insured payroll-related amount applied to their employees.

  • The Premium will be calculated and charged based on a Premium Rate, which is expressed per £100 of Insured Salary.

  • For persons who have moved to Switzerland from abroad and who have never been enrolled in a Swiss Pension Fund, the annual purchase sum in the first 5 years of joining a Swiss Pension Fund must not exceed 20% of the Insured Salary, reserved in this re- spect is Art.

  • For those who subscribe according to their insured payroll-related amount claim with proof, the insured payroll-related amount must be no less than the highest level of the Insured Salary Grading Table of Labor Insurance.

  • The Premium is calculated based upon the total Insured Salary for all Members at the Commencement Date and subsequent Annual Revision Dates.

  • Until the normal retirement age is reached, it is calculated as a percentage of the Insured Salary.

  • However, the Insured may ask for a reduction of the Insured Salary.8 If the coordinated sum is increased, the existing Insured Salary will not be reduced.

  • The Contribution Pay of a Group Income Protection Scheme Claimant as described in Rule 29.4 and the Insured Salary of such a Member as described in Rule 29.5 shall be revalued at a rate of 5% per annum compound in respect of each successive period of 12 months between the date when the Member ceased working for his Participating College and ending on the earliest of the dates set out in paragraphs (a)-(f) of Rule 29.1 save that the proviso to paragraph (f) shall not apply.

  • Should it transpire that any of the details provided to us are incorrect or that there is a greater than 25% variation in the number of lives or total Insured Salary, we reserve the right to review the terms offered or terminate cover.


More Definitions of Insured Salary

Insured Salary means an amount equal to 8 times the "market minimum wage", as shall be updated from time to time (currently NIS 42,400) or any other amount as shall be determined by the Ministry of Labor, Welfare and Social Services in accordance with the provisions of Section 28 to the Severance Pay Law, 1963. The Company shall continue to insure the Executive under an accepted ‘Managers’ Insurance’ plan (the “Managers’ Insurance Policy”), a Pension Fund (the “Pension Fund”) or a combination of both, at Executive’s choice, according to the following rates and conditions:
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Insured Salary the Monthly Salary. Translation from the Hebrew
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Insured Salary means the greatest of: (c) the Member's Gross Salary; (d) the Member's annual rate of Pensionable Salary; (e) the annual average of the Member's Gross Salary or Pensionable Salary in the last three tax years before death; or (f) the Member's latest Reference Salary as notified to the Member by the Employer;
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Insured Salary pursuant to this Section means the Average Salary in the Market, as defined in the “Expansion Order, for All Encompassing Pension Insurance in the Market.” In addition, the Employee shall contribute and for that purpose hereby irrevocably authorizes and instructs the Company to deduct from his Salary at source any contribution required to be paid by him to such Pension Fund, in accordance with Israeli law.
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Related to Insured Salary

  • Leave Salary means the monthly amount paid by the University to an employee who is on leave.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Salary as defined in Section 3.1(a).

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Annual Salary means the salary given under this Part.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Monthly salary means the gross amount paid to a participant making a claim under s. 40.65, at the time he or she becomes disabled within the meaning of s. 40.65 (4), by the employer in whose employ the injury occurred or the disease was contracted. Overtime pay may not be considered part of an employee’s monthly salary unless the employee received it on a regular and dependable basis.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Annual Compensation means an amount equal to the greater of:

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after the effective date of the NYSE listing standard, (ii) after the person became an Executive Officer and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Final compensation of a member means:

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Compensation Accrued at Termination means the following:

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Basic Compensation means Salary and Benefits.