Rate of Accrual definition

Rate of Accrual in relation to a Member means the rate determined by the Actuary at the Member’s Date of Admission and from time to time thereafter having regard to the Member’s Initial Accrual as the rate (expressed as a proportion of the Member’s Salary) at which that Member’s normal retirement benefit is deemed to accrue during the period between the Member’s Date of Admission and Normal Retirement Date;
Sample 1

Examples of Rate of Accrual in a sentence

  • Section 400.200 Rate of Accrual A Covered Employee accrues one full hour of Earned Sick Leave for every 40 hours that he or she works for the Covered Employer within the geographic boundaries of Cook County, subject to the following qualifications: (A) Overtime-Exempt Employees The Commission will assume that a Covered Employee who is Overtime Exempt works 40 hours per week for the purpose of accruing Earned Sick Leave.

  • Rate of Accrual - The amount of paid time off employees receive each year increases with the length of their employment as shown below and shall be paid at the employee’s base pay rate at the time leave is taken.

  • Section 2 Annual Leave2.1 Rate of Accrual of Annual Leave: Except as provided elsewhere in these Rules, each eligible employee in the classified service shall earn and accumulate annual leave with pay as follows: 2.2 Earned but unused annual leave credits shall be accumulated for each employee and shall be carried forward from one leave year to the next, but the maximum amount of accumulated leave which may thus be carried forward shall be a total of four (4) weeks.

  • In recent years, this technique has been replaced by more cost-effective immunoturbidimetric technology, which is more suitable for use on a high-volume, automated platform (Wei Zheng, et al., 2001).Detecting acute changes in nutritional status requires a serum transthyretin level.

  • Full-time employees accrue paid vacation leave at the following rate: Years of State Service Rate of Accrual (per calendar month) 0 to 10 10 hours >10 to 15 12 hours >15 to 20 14 hours >20 16 hours State service means employment in any of the three branches of State government, whether continuous or non-continuous, and service as a Legislator, but does not include any non- status employment such as temporary, project, internship employment or similar employment.

  • Regular and probationary full-time employees hired prior to 10/01/00 who are covered by this Agreement and have not elected the Paid Time Off (PTO) option shall accrue vacation (annual leave) based on their leave progression date and shall be limited to the following schedule: Years of Continuous Service Rate of Accrual Per Pay Period 1 to 5 years (1 mo.

  • SECTION 14.1: PAID TIME OFF AT ENUMCLAW HEALTH AND REHABILITATION CENTER All regular full‐time and regular part‐time employees will accrue PTO based on the following schedule: Length of Continuous Service Rate of Accrual Max Annual Hours 0-3 Years .0451 88 4‐5 Years .0656 128 6+ Years .0862 168 PTO will accrue only for straight-time and overtime hours paid for time worked, PTO hours and jury duty, bereavement and low census hours up to the maximum annual hours allowable.

  • Rate of Accrual and Allowable Carry Forward – The schedule below shows rates of annual leave accrual for various lengths of State employment and the maximum number of hours an employee may carry forward each fiscal year beginning on September 1st.

  • Section 18.1 Rate of Accrual Employees will earn vacation, personal leave, and sick leave based on the number of hours worked in the pay period.

  • With the implementation of a new HR Management System, it is the parties’ expectation that, subject to Article 59, employees will accrue paid vacation on a biweekly basis at the following rate: Years of State Service Rate of Accrual (per biweekly period) >0 to 10 4.7 hours >10 to 15 5.6 hours >15 to 20 6.5 hours >20 7.4 hours Employees will accrue the full accrual amount based on their years of state service as long as they are in pay status for at least forty (40) hours in that biweekly pay period.

Related to Rate of Accrual

  • Rate Year means July 1st of a given Calendar Year through June 30th of the succeeding Calendar Year.

  • Rate of Interest means the rate of interest payable from time to time in respect of this Note and that is either specified or calculated in accordance with the provisions hereon.

  • Interest Day Count Convention means the actual number of days in the related Interest Accrual Period divided by 360.

  • Wage Rate refers to an Employee’s hourly rate of pay reflected by the pay grade of her position and her step within that grade, as set out in the Wage Rate grid in Appendix II.

  • Rate of Gross Profit means the gross profit earned expressed as a percentage of the turnover during the period between the date of the commencement of the business and the date of the incident.

  • Rate means the Adjusted LIBO Rate and the Alternate Base Rate.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Rate Period has the meaning set forth in the Statement.

  • Final rate of pay means the actual rate upon which earnings of an employee were calculated during the twelve (12) month period immediately preceding the member's effective retirement date, and shall include employee contributions picked up after August 1, 1982, pursuant to KRS 78.610(4). The rate shall be certified to the system by the employer and the following equivalents shall be used to convert the rate to an annual rate: two thousand eighty (2,080) hours for eight (8) hour workdays, one thousand nine hundred fifty (1,950) hours for seven and one-half (7.5) hour workdays, two hundred sixty (260) days, fifty-two (52) weeks, twelve (12) months, one (1) year;

  • Excess Rate With respect to each ARD Loan, the excess of (i) the applicable Revised Rate over (ii) the applicable Mortgage Rate, each as set forth in the Mortgage Loan Schedule.

  • Discount Rate means the rate used by the Plan Administrator for determining the Accrual Balance. The initial Discount Rate is six percent (6%). However, the Plan Administrator, in its discretion, may adjust the Discount Rate to maintain the rate within reasonable standards according to GAAP and/or applicable bank regulatory guidance.

  • Contract Rate means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable.

  • Actual Rate of Pay means, unless and until the Agency Worker has completed the Qualifying Period, the rate of pay which will be paid for all time worked during an Assignment for each hour worked, as set out in the relevant Assignment Details Form;

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • LIBOR Interest Rate means the rate per year (rounded upward to the next one-sixteenth (1/16th) of one percent (0.0625%), if necessary) determined by CNB to be the quotient of (a) the LIBOR Base Rate divided by (b) one minus the Eurocurrency Reserve Requirement for the Interest Period; which is expressed by the following formula: LIBOR Base Rate

  • Blended Rate means, with respect to any Taxable Year, the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the maximum effective rate in any state or local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such jurisdiction in such Taxable Year. As an illustration of the calculation of Blended Rate for a Taxable Year, if the Corporate Taxpayer solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate tax rates in effect in such states in such Taxable Year are 6% and 5%, respectively and the apportionment factors for such states in such Taxable Year are 60% and 40%, respectively, then the Blended Rate for such Taxable Year is equal to 5.6% (i.e., 6% times 60% plus 5% times 40%).

  • Relevant Rate means the Benchmark for a Representative Amount of the Specified Currency for a period (if applicable or appropriate to the Benchmark) equal to the Specified Duration commencing on the Effective Date.

  • Average Rate means the simple arithmetic mean of the bank rates in effect at 4:00 p.m. Eastern Standard Time each day during the calendar month which immediately precedes the calendar month in which payment is made, where the "bank rate" means the rate of interest established from time to time by the Bank of Canada as the minimum rate at which the Bank of Canada makes short term advances to members of the Canadian Payments Association;

  • Straight-time rate means the hourly rate of remuneration.

  • Payment Rate means the rate (expressed in €/MWh, €/Mvarh or €/MWs2h as appropriate) for the calculation of payments for DS3 System Services as specified in the Charging Statement;

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Reference Bond Rate means, with respect to any date of redemption, the rate per annum equal to the annual or semi-annual yield (as the case may be) to maturity or interpolated yield to maturity (on the relevant day count basis) of the Reference Bond, assuming a price for the Reference Bond (expressed as a percentage of its nominal amount) equal to the Reference Bond Price for such date of redemption;

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Accrual Period With respect to each Payment Date, the period beginning on and including the prior Payment Date (or, in the case of the first Payment Date, the Closing Date) and ending on and including the day preceding such Payment Date.

  • Actual QP Rate of Pay means the rate of pay which will be paid to the Agency Worker if and when s/he completes the Qualifying Period, as set out in any variation to the relevant Assignment Details Form;