Modified Benefit Option Wage Differential Sample Clauses

Modified Benefit Option Wage Differential. ‌ (a) Employees who select the MBO shall receive a wage differential of $1.75/hour above the base rate of pay. The wage differential shall be paid on all paid hours (e.g., REG, PTO, etc.). (b) The wage differential shall be considered as part of the base hourly rate when calculating the following: the County contribution to the employee’s Retirement Medical Trust (RMT) account, differentials paid on a percentage basis (e.g., longevity), sick leave conversion cash-outs (if any) pursuant to the RMT Article, and other leave cash-outs. Provided below is an example of how the County’s contribution to the RMT would be calculated:
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Modified Benefit Option Wage Differential. ‌ Employees who select the MBO shall receive a differential of $2.00/hour above the base rate of pay. The differential shall be paid on all paid hours (e.g., REG, PTO, etc.). The differential shall be considered as part of the base hourly rate when calculating the following: the County contribution to the employee’s Retirement Medical Trust (RMT) account, sick leave cash-outs (if any) pursuant to the RMT Article, and leave cash-outs. Provided below is an example of how the County’s contribution to the RMT would be calculated: EX: A nurse with 11 years of continuous County service and an 80-hour per pay period schedule selects the MBO. The employee’s base hourly rate is $40 per hour. This employee is eligible for a County contribution to the RMT equal to 1.00% of the employee base bi-weekly salary. The County contribution to the RMT is calculated as follows: • 80 hours X ($40.00 per hour + $2 MBO Differential) = $3,360 base bi-weekly salary for purposes of County contribution to the RMT • $3,360 X 1.00% Contribution Rate = $33.60 • The County will contribute $33.60 to the RMT on behalf of the employee that pay period.
Sample 1Sample 2Sample 3See All (4)
Modified Benefit Option Wage Differential. ‌ (a) Employees in the classifications of Fire Suppression Aide II, Fire Suppression Aide III, Firefighter EMT, Firefighter Paramedic, Engineer, and Captain who select the MBO shall receive a wage differential of 4% above the base rate of pay. The wage differential shall be paid on all paid hours (e.g., REG, PTO, etc.). (b) The wage differential shall be considered as part of the base hourly rate when calculating the County’s contribution to the employee’s Retirement Medical Trust (RMT) account and sick leave conversion cash-out pursuant to the RMT Article, and other leave cash-outs if any. Provided below is an example of how the County’s contribution to the RMT would be calculated: Example: A Captain with 17 years of continuous County service selects the MBO. The employee’s base hourly rate is $35 per hour. This employee is eligible for a County contribution to the RMT equal to 2.75% of the employee’s base bi-weekly salary. The County contribution to the RMT is calculated as follows: 112 hours X ($35.00 per hour X 1.04 MBO Wage Differential) = $4,077 base bi- weekly salary for purposes of County contribution to the RMT $4,077 X 2.75% Contribution Rate = $112.12 The County will contribute $112.12 to the RMT on behalf of the employee that pay period.
Sample 1Sample 2Sample 3
Modified Benefit Option Wage Differential. (a) Employees who select the MBO shall receive a wage differential of $1.75/hour above the base rate of pay. The wage differential shall be paid on all paid hours (e.g., REG, PTO, etc.). (b) The wage differential shall be considered as part of the base hourly rate when calculating the following: the County contribution to the employee’s Retirement Medical Trust (RMT) account, differentials paid on a percentage basis (e.g., 13.5% Emergency Medical Services Differential), longevity, sick leave cash-outs (if any) pursuant to the RMT Article, and leave cash-outs. Provided below is an example of how the County’s contribution to the RMT would be calculated: Example: An employee with 11 years of continuous County service and an 80-hour per pay period schedule selects the MBO. The employee’s base hourly rate is $25 per hour. This employee is eligible for a County contribution to the RMT equal to 1.00% of the employee’s base bi-weekly salary. The County contribution to the RMT is calculated as follows: 80 hours X ($25.00 per hour + $1.75 MBO Wage Differential) = $2,140 base bi- weekly salary for purposes of County contribution to the RMT $2,140 X 1.00% Contribution Rate = $21.40 The County will contribute $21.40 to the RMT on behalf of the employee that pay period.
Sample 1

Related to Modified Benefit Option Wage Differential

  • Benefit Options Employees must elect a plan administrator and primary care clinic. Those elections will determine the Benefit Level through Advantage. Enrolled dependents must elect a primary care clinic that is available through the plan administrator chosen by the employee.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • REFUND OF UNEARNED COMPENSATION The Party of the Second Part agrees to refund the Party of the First Part any compensation received for which no services were rendered. TERMINATION: This contract may be terminated by either party pursuant to law. OTHER CONDITIONS: Any subsequent contracts shall supersede the provisions of this contract. PARTIES: The Fort Xxxxx School District 100, Party of the First Part, and XXXXX XXXXX XXXXX Party of the Second Part, agree as follows:

  • Shift Differential Pay SECTION 1: In addition to compensation provided by the wage schedule, employees working between the hours of 3:00 P.M. and 7:00 A.M. shall be paid a shift differential premium of $.45 (forty-five cents) per hour in addition to the regular pay for those hours. SECTION 2: Employees must work a minimum of 3 (three) hours in order for shift differential to apply.

  • Deductions from Sick Leave A deduction shall be made from accumulated sick leave of all normal working days (exclusive of holidays) absent for sick leave.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!