Step rate definition

Step rate. The specific value within the pay range to which the employee is assigned. Base: The employee’s step rate plus longevity adjustments. Regular rate: The base rate (which includes longevity) plus all applicable supplements.

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Step rate means a positive percentage that is used when calculating your Segment Rate of Return on a Segment Maturity Date, as described in the “Segment Rate of Return” Section above. We set the [Step] Rate for each new Segment on the Segment Start Date. The [Step] Rate is fixed for the duration of the Segment. The initial and guaranteed minimum [Step] Rate is shown in your Data Pages.

Step rate rate in a range of compensation grade.

Examples of Step rate in a sentence

• Step rate is the specific value within the range to which the employee is assigned.

• Step rate is the specific value within the pay range to which the employee is assigned.

• Any member who leaves or who has left the City service to enter the active service of the Armed Forces of the United States and who subsequently is reinstated to a position previously held shall be entitled to receive compensation at the Step rate to which the member would have been entitled had his or her service with the City not been interrupted by service in the Armed Forces.

• Pursuant to the Ohio Revised Code Section 5923, any employee who leaves, or has left, the City service to enter the active service of the Armed Forces of the United States, or any branch thereof, and who is subsequently reinstated to employment with the City, shall be entitled to receive compensation at the Step rate to which the employee would have been entitled had service with the City not been interrupted by service in the Armed Services.

• All hours exceeding such 20% shall be paid for at the 1st Step rate.

• Pursuant to the Ohio Revised Code Section 5903.03, any member who leaves, or has left, the City service to enter the active service of the Armed Forces of the United States, or any branch thereof, and who subsequently is reinstated to employment with the City, shall be entitled to receive compensation at the Step rate to which the member would have been entitled had service with the City not been interrupted by service in the Armed Services.

• Pursuant to the Ohio Revised Code Section 4903.03, any employee who leaves, or has left, the City service to enter the active service of the Armed Forces of the United States, or any branch thereof, and who is subsequently reinstated to employment with the City, shall be entitled to receive compensation at the Step rate to which the employee would have been entitled had service with the City not been interrupted by service in the Armed Services.

• All hours compensated for at the 1st Step rate shall be accumulative in determining length of service wage adjustments.

• A retired Employee, who returns as a casual Employee, shall be paid based on their Step rate of pay for the category which they retired.

• Pursuant to the Ohio Revised Code Section 4903.03, any employee who leaves, or has left, the City service to enter the active service of the Armed Forces of the United States, or any branch thereof, and who is subsequently reinstated to employment with the City, will be entitled to receive compensation at the Step rate to which the employee would have been entitled had service with the City not been interrupted by service in the Armed Services.

More Definitions of Step rate

Step rate means a fixed interest rate equal to 1.75% plus (i) until the second anniversary of the Closing Date, 70% of the "two year treasury rate" and (ii) after the second anniversary of the Closing Date and before the Termination Date, 70% of the "three year treasury rate." For purposes of this definition, (a) "two year treasury rate" means the rate for U.S. Treasury Bonds maturing over a two year period announced in the Wall Street Journal or any similar publication on the Closing Date and (b) "three year treasury rate" means the rate for U.S. Treasury Bonds maturing over a three year period announced in the Wall Street Journal or any similar publication on the second anniversary of the Closing Date.

Step rate. Pay rate as outlined in Section 21.A. [Step Rates of Pay]Section 21.A. [Compensation: Step Rates of Pay]..

Step rate means a fixed interest rate equal to (i) 6.37% per annum until April 3, 2002 and (ii) from and after April 3, 2002, 1.75% per annum plus 70% of the "three year treasury rate." For purposes of this definition, "three year treasury rate" means the rate for U.S. Treasury Bonds maturing closest to the Maturity Date announced in the Wall Street Journal or any similar publication on April 3, 2002 unless a different rate per annum is designated by the Treasurer of the State of Illinois as the interest rate contemplated by STEP with respect to the funds maintained by the State of Illinois on deposit with the Bank in an amount at least equal to the then outstanding principal amount of the Term Loan for the purpose of funding the Company under STEP.