Common use of Conversion of Annual Rate to Bi-Weekly Rate Clause in Contracts

Conversion of Annual Rate to Bi-Weekly Rate. When an annual rate of compensation is converted to bi-weekly rates for payroll purposes and the resulting amount involves a fraction of a cent, the converted bi-weekly rate shall be adjusted to eliminate such fraction of a cent on the following basis:

Conversion of Annual Rate to Bi-Weekly Rate. When an annual rate of compensation is converted to bi-weekly rates for payroll purposes and the resulting amount involves a fraction of a cent, the converted bi-weekly rate shall be adjusted to eliminate such fraction of a cent on the following basis:: 203. a. A fraction of less than one-half (1/2) shall be dropped and the amount reduced to the next full cent.

Conversion of Annual Rate to Bi-Weekly Rate. When an annual rate of compensation is converted to bi-weekly rates for payroll purposes and the resulting amount involves a fraction of a cent, the converted bi-weekly rate shall be adjusted to eliminate such fraction of a cent on the following basis:: 211. a. A fraction of less than one-half (1/2) shall be dropped and the amount reduced to the next full cent. 212. b. A fraction of one-half (1/2) or more shall be increased to the next full cent.

Conversion of Annual Rate to Bi-Weekly Rate. When an annual rate of compensation is converted to bi-weekly rates for payroll purposes and the resulting amount involves a fraction of a cent, the converted bi-weekly rate shall be adjusted to eliminate such fraction of a cent on the following basis:: 193. a. A fraction of less than one-half (1/2) shall be dropped and the amount reduced to the next full cent.