DEFINITION of EFFECTIVE SALARY Sample Clauses

DEFINITION of EFFECTIVE SALARY. Effective Salary is any compensation paid to an employee by the employing organization that is subject to Board of Pensions dues. The more common examples of compensation are listed below. For a complete listing you may visit the Board of Pensions website at xxxx://xxx.xxxxxxxx.xxx/library/publications/publications/pln-103.pdf and view a copy of the Understanding Effective Salary booklet. Are the following types of compensation included in effective salary? Form of Payment Yes No Annual Cash Salary Full amount of cash salary Book Allowance Paid through a non-accountable reimbursement plan Paid through an accountable reimbursement plan Bonuses Adjustments to the effective salary are made when bonuses are paid to the employee Car Allowance Paid through a non-accountable reimbursement plan Paid through an accountable reimbursement plan Co-Insurance Payments and Deductible Reimbursements Co-insurance and deductible payments are made through a flexible spending account. Co-insurance and deductible amounts are paid or reimbursed as part of an employing organization group coverage. Continuing Education Paid through a non-accountable reimbursement plan Paid through an accountable reimbursement plan Deferred Compensation Voluntary deductions for 403(b) and other types of annuity arrangements Housing Allowance Allowances given for housing-related expenses and appurtenances Insurance Premiums Premiums for individual policies and optional benefits under the Board of Pensions Plan Group coverage provided by an employing organization, including the Board of Pensions plan Manse Value Manse value calculated at a rate of at least 30% of all other compensation included in effective salary Social Security Reimbursement Social security reimbursements for more than 7.65% of the social security obligation Social security reimbursements for 7.65% or less of the social security obligation.
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DEFINITION of EFFECTIVE SALARY. ➓ Shared housing equity - the purpose of a shared housing equity is to compensate ministers living in a manse for the loss in equity appreciation they would otherwise realize as homeowners.
Sample 1

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