Rate of Earnings definition

Rate of Earnings means the compensation paid by the Employer to the Employee as salary, wages or other remuneration as shown on the W-2 Form of the Internal Revenue Service, or such other form as may supersede or replace said W-2 Form, excluding any severance pay or pay for accrued leave.
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Rate of Earnings means “the straight time hourly rate multiplied by the number of regularly scheduled hours of work per year“.
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Rate of Earnings means the rate of annual Compensation received from the Employer on January 1st of each Plan Year.
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Examples of Rate of Earnings in a sentence

  • Rate of Earnings" shall mean the compensation paid by the Employer to the Employee as salary, wages or other remuneration as shown on the W-2 Form of the Internal Revenue Service, or such other form as may supersede or replace said W-2 Form, excluding any severance pay or pay for accrued leave.

  • Final Earnings" shall mean the average Rate of Earnings during the three (3) years of the Participant's employment with the Employer for which the Participant's earnings exclusive of any severance pay or pay for accrued leave or supplemental rate of earnings, if applicable, per Section 25.17(B), were at their highest level.


More Definitions of Rate of Earnings

Rate of Earnings means the annual compensation paid by the Employer to the Employee as salary, wages or other remuneration as shown on the W-2 Form of the Internal Revenue Service, or such other form as may supersede or replace said W-2 Form, plus any amount deducted for a Town-sponsored deferred compensation program. Payment of accrued sick leave and vacation shall not be included in rate of earnings, nor shall any deduction from the retirement plan contribution be made from such actual payments.
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Rate of Earnings means 7.24% per annum calculated on a 30/360 day count basis.
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Related to Rate of Earnings

  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

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

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • Ordinary time earnings means the salary, wage or other remuneration regularly received by the employee in respect of the time worked in ordinary hours and shall include shift work penalties, payments which are made for the purpose of District or Location Allowances or any other rate paid for all purposes of the award to which the employee is entitled for ordinary hours of work. Provided that "ordinary time earnings" shall not include any payment which is for vehicle allowances, fares or travelling time allowances (including payments made for travelling related to distant work), commission or bonus.

  • Final average salary means whichever of the following is greater:

  • hourly rate of pay means a full-time employee’s weekly rate of pay divided by thirty-seven decimal five (37.5); (taux de rémunération horaire)

  • Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.

  • Three-Month LIBOR means the rate (expressed as a percentage per annum) for deposits in United States dollars for a three-month period commencing on the first day of a Dividend Period that appears on the Reuters Screen LIBOR01 Page as of 11:00 a.m. (London time) on the LIBOR Determination Date for that Dividend Period. If such rate does not appear on Reuters Screen LIBOR01 Page, Three-month LIBOR will be determined on the basis of the rates at which deposits in United States dollars for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., London time, on the LIBOR Determination Date for that Dividend Period. The Calculation Agent will request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-month LIBOR with respect to that Dividend Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date for that Dividend Period for loans in United States dollars to leading European banks for a three-month period commencing on the first day of that Dividend Period and in a principal amount of not less than $1 million. However, if fewer than three banks selected by the Calculation Agent to provide quotations are quoting as described above, Three-month LIBOR for that Dividend Period will be the same Three-month LIBOR as determined for the previous Dividend Period or, in the case of the Dividend Period beginning on April 30, 2018, 2.920%. The determination of Three-month LIBOR for each relevant Dividend Period by the Calculation Agent will (in the absence of manifest error) be final and binding.

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

  • Inflation rate means that term as defined in section 34d.

  • Current rate of pay means the member's actual hourly, daily, weekly, biweekly, monthly, or yearly rate of pay converted to an annual rate as defined in final rate of pay. The rate shall be certified by the employer;

  • Base Rate of Pay means the employee’s hourly rate of pay excluding any premiums, incentives, add-ons or rollups.