Basic Monthly Earnings definition

Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.
Basic Monthly Earnings means the Covered Person's monthly rate of earnings from the Sponsor as of the September 30th immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and any other extra compensation.
Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include overtime pay and extra compensation other than commissions and bonuses. Commissions and bonuses will be averaged over the lesser of (a) the 12 month period prior to the date Disability begins; or (b) the period of employment.

Examples of Basic Monthly Earnings in a sentence

  • MONTHLY BENEFIT The Maximum Monthly Benefit of $2,000, as elected in increments of $100, not to exceed 70% of the Person’s Basic Monthly Earnings.

  • If the Person is paid his annual gross income in less than 12 months, the Basic Monthly Earnings shall equal 1/12 of the annual gross income.

  • MONTHLY BENEFIT The Maximum Monthly Benefit of $3,000, as elected in increments of $100, not to exceed 70% of the Person’s Basic Monthly Earnings.

  • MONTHLY BENEFIT 60% of Basic Monthly Earnings not to exceed Maximum Monthly Benefit of $500.

  • For the period prior to August 28, 1995, Basic Monthly Earnings are 1/12 of annual wages including bonuses, overtime and amounts contributed to 403(b) and cafeteria plans.


More Definitions of Basic Monthly Earnings

Basic Monthly Earnings means the Covered Person's gross monthly rate of earnings from the Sponsor as of the December 31st immediately prior to the date Disability or Partial Disability begins. Such earnings will not include bonuses, overtime pay and extra compensation other than commissions. Commissions will be averaged over the less of (a) the 12 month period prior to the date Disability begins; or (b) the period of employment.
Basic Monthly Earnings means the Covered Person's monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay, shift differential pay, stock options and stock bonuses, non-benefits-eligible earnings, Sponsor contributions to any deferred compensation arrangement or pension plan, and any other extra compensation.
Basic Monthly Earnings means 1/12th of the supervisor's annual contract salary.
Basic Monthly Earnings means the insured’s average monthly salary in effect just prior to the date disability begins. It also includes earnings from schedule K-1 of the federal income tax return.
Basic Monthly Earnings means the insured’s average monthly earnings as figured:
Basic Monthly Earnings means the Covered Person's monthly rate of earnings from the Sponsor in effect immediately prior to the date Long Term Disability benefits begin. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.
Basic Monthly Earnings means your gross monthly income from the employer in effect just prior to the date of disability. It does not include commissions, bonuses, overtime pay and other extra compensation.