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

  • Basic monthly earnings include base salary step plus any stipend(s) computed as of the first day of the month in which the disability commences or other loss occurs.


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 Covered Person's annual base rate of compensation from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins including 1/12th of the Covered Person's annual longevity payment, if any. For teachers, annual base rate of compensation includes any local supplement, coach's supplement, summer school teaching, evening classes, special seminar and executive programs. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.
Basic Monthly Earnings means 1/12th of the supervisor's annual contract salary.
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 the Covered Person's monthly rate of earnings, including shift differential pay, 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 greater of 1/12th of the insured's gross budgeted salary as of the January 1 just prior to the date of disability as reported by the employer on Display 9001 Appointments or 1/12th of the previous calendar year's gross earnings (with respect to which premiums have been paid for this insurance) figured from the year-end pay record for the calendar year just prior to the date disability begins. It includes employee pre-tax contributions to a deferred compensation plan which is defined by a documented, pre-determined formula, and to a Section 125 plan or flexible spending account. Gross budgeted salary does not include bonuses, commissions, overtime pay, shift differential, NUCredits or any other extra compensation. It does not include income received from sources other than your employer.