Annual Earnings definition
Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.
Annual Earnings means your annual rate of earnings from the Sponsor. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.
Annual Earnings means your average gross annual income as figured:
Examples of Annual Earnings in a sentence
The School Board will pay the premium for a Term Life Insurance policy in an amount equal to the employee’s Annual Earnings for all newly-hired employees.
The Annual Benefit Credit shall be an amount equal to the quotient of (1) the difference between (a) the Annual Earnings on Bank-Owned Life Insurance, minus (b) the Annual After-Tax Cost-of-Funds; divided by (2) the After-Tax Factor.
Effective prior to February 1, 2002, the Participant may elect to defer not less than 1% of his Annual Earnings nor more than 15% of his Annual Earnings for any Plan Year.
Effective as of February 1, 2002, the Participant may elect to defer not less than 1% of his Annual Earnings nor more than 25% of his Annual Earnings for any Plan Year.
Each Participant who is an Employee may enter into a salary reduction agreement with the Employer whereby he authorizes the Employer to reduce his Annual Earnings, or any part thereof, by such percentage as he shall specify.
More Definitions of Annual Earnings
Annual Earnings means your annual teacher's contract salary in effect just prior to the date of loss. Annual salary is your total income before taxes and any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan, or flexible spending account. It does not include income received from commissions, bonuses, overtime pay, or any other extra compensation or income received from sources other than your Employer.
Annual Earnings means the amounts earned by Executive for personal service rendered to the Bank and its affiliates as reportable on Treasury Department Form W-2, including bonuses, and excluding the following: (1) moving and educational expenses, (2) income included under Section 79 of the Internal Revenue Code of 1986, as amended and (3) income imputed to Executive from personal use of employer owned automobiles and employer paid club dues. Earnings shall not include any income attributable to grants of and dividends on shares awarded under any stock option plan.
Annual Earnings means the Covered Person's annual rate of earnings from the Sponsor. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.
Annual Earnings means your gross annual income from your Employer. Gross annual income will be averaged of the lesser of:
Annual Earnings mean wages, salaries, other amounts received for personal services actually rendered (including, but not limited to, commissions paid salesmen, compensation for services on the basis of a percentage of profits and bonuses), and earned income (within the meaning of section 401(c)(2) of the Code) from the Employer and all Affiliates. The term includes income from sources outside the United States (as defined in section 911(b) of the Code) and is determined without regard to the exclusions from gross income in sections 931 and 933 of the Code. Annual Earnings shall not include reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation, welfare benefits, automobile allowances, stock option gains and severance pay. Annual Earnings shall be taken into account in the Plan Year in which they are actually paid. Annual Earnings shall be taken into account only while an Employee is a Participant. Annual Earnings shall include amounts that are contributed by an Employer pursuant to the provisions of a salary reduction agreement and that are not included in the gross income of the Participant but for section 402(e)(3) of the Code (relating to a salary reduction election under section 401(k) of the Code), section 125 of the Code (relating to the cafeteria or flexible benefit plans), section 402(h) of the Code (relating to SEPs), section 403(b) of the Code (relating to certain tax deferred annuities), section 457(b) of the Code (relating to deferred compensation plans of state and local governments and tax-exempt organizations), section 414(h)(2) of the Code (relating to certain picked-up employee contributions) or Section 132(f) of the Code (relating to qualified transportation fringes). Solely for purposes of determining the Actual Deferral Percentage, the Administrator, in lieu of the definition of “Annual Earnings” set forth above, may use any definition that satisfies section 414(s) of the Code. For any Plan Year beginning before June 30, 2002, only the first $170,000 (as adjusted by the Secretary of Treasury in accordance with section 401(a)(17) of the Code) of a Participant’s Annual Earnings shall be taken into account. The Annual Earnings of each Participant taken into account in determining allocations for any Plan Year beginning after June 30, 2002 shall not exceed $200,000, as adjusted for cost-of-living increases in accordance with Section 401(a)(17)(B) of the Code. The cost-of-living adjustment in e...
Annual Earnings means your gross annual income from your Employer in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan, or flexible spending account. It includes your target bonuses and target commissions for the current year as provided by your Employer but does not include income received from overtime pay, shift differential, or any other extra compensation or income received from sources other than your Employer.
Annual Earnings or "Earnings" means the annual, actual wages or salary paid to a Member for the Member's personal service, including the amount of any Employee contribution pursuant to (S)125 and (S)401(k) of the Code, as amended, but excluding, effective September 1, 1994, foreign service premiums(1), and extra pay such as overtime, premiums, bonuses, living or other allowances. Annual Earnings shall not exceed a Member's regular wages or salary as determined by the Company. Annual Earnings or Earnings shall not exceed $160,000, as adjusted each Plan Year pursuant to (S)401(a)(17)(B) of the Code.