Average Pay definition

Average Pay means the average monthly pay earned during the 12 completed months immediately preceding the month in which the event occurs which necessitates the calculation of the average pay.

Average Pay means the average of the wages payable to a worker,—

Average Pay means the average of the wages payable to a workman —

Examples of Average Pay in a sentence

• Average Pay Method is used if there is a variation in pay from pay stub to pay stub and it is a result of overtime, lost time, or working for different employers.

• Final Average Pay is defined as the averaged highest sixty (60) consecutive months of compensation earned over the last one hundred twenty months (120) of employment.

• The pension formula shall be 1.45% of Final Average Pay multiplied by all years of Credited Service with no Social Security offset.

• However the Employer will maintain a record of the number of accrued or rostered days banked and will apply the Average Pay System during the weeks when an Employee elects to take a banked accrued or rostered day off.

• Employees on the payroll as of October 13, 2000 were grandfathered into the previous pension plan with the formula of 1.5% of Final Average Pay multiplied by all years of Credited Service with no Social Security Offset.

More Definitions of Average Pay

Average Pay. ’ means the largest annual rate resulting from averaging an employee’s or Member’s rates of basic pay in effect over any 3 consecutive years of creditable service or, in the case of an annuity under subsection

Average Pay means the average monthly pay earned while on duty during the twelve calendar months immediately preceding the month in which the employee proceeds on leave, and in the case of an employee who has not been on duty for more than a year, the average monthly pay earned while on duty during the calendar months immediately preceding the month in which he proceeds on leave.

Average Pay means the average of salary of 10 calendar months prior to the month in which the leave commences. Half average pay means half of the average pay as defined above.

Average Pay means the amount equal to the mean between the minimum and maximum of Time of Scale of Pay of the post held by the subscriber.

Average Pay means the average monthly pay earned while on duty during the twelve calendar months immediately preceding the month in which the employee proceeds on leave, and in the case of an employee who has not been on duty for more than a year, the average monthly pay earned while on duty during the calendar months immediately preceding the month in which he proceeds on leave provided that when the substantive pay of an employee on leave is less than Rs. 200/- per mensem, and the period of leave taken does not exceed two months, his average pay shall mean the pay which he would draw in the post substantively held by him at the time of taking leave, if this pay be more than his average pay.

Average Pay. For those eligible employees who elect pay averaging, average biweekly pay will be determined as follows:

Average Pay means the sum that