Contributory Earnings definition
Contributory Earnings means in respect of a Regular Member, his or her earnings as defined in Bylaw 6.01.
Contributory Earnings means, notwithstanding the operation of clause 13(1)(e) and/or subsection 13(5), the following earnings of a member from an employer during membership in the Plan:
Contributory Earnings. The OMERS definition of contributory earnings is set out below. Please note that the definition is subject to amendment by ▇▇▇▇▇. • base wages or salary; • regular vacation pay if there is corresponding service; • normal vacation pay for other-than-continuous full-time members. Include vacation hours in credited service; • retroactive pay (including any pay equity adjustment) that fits with ▇▇▇▇▇ definition of earnings for all members, including active, terminated, retired and disabled members; • lump sum wage or salary benefits which may vary from year to year but which form a regular part of the compensation package and are expected normally to occur each year (e.g. payment based on organizational performance, some types of variable pay, merit pay and commissions); • market value adjustments (e.g. percentage paid in addition to a base wage as a result of market conditions, including retention bonuses if they are part of your ongoing pay strategy and not a temporary policy); • ongoing special allowances (e.g. flight allowance and canine allowance); • pay for time off in lieu of overtime; • danger pay; • acting pay (pay at a higher salary rate for acting in place of an absent person); • shift premium (pay for shift work); • ongoing long service pay (extra pay for completing a specified number of years of service); • sick pay deemed to be regular wages or salary; • salary or wage extension for any reason, provided service is extended (the member must be “kept whole” e.g. continuation of salary and benefits). If the member becomes employed in another position and begins contributing to any registered pension plan (except CPP), the balance of the extension period becomes unpurchasable service; • stand-by pay/call-in pay (pay for being on call, not pay for hours worked when called in); • living accommodation premiums provided (if paid as a form of compensation and not as a direct expense reimbursement); • ongoing taxable payments to pay for costs (e.g. educational or car allowance); • taxable premiums for life insurance; • taxable value of provided vehicle or car allowance (e.g. if an employer provides an allowance [that is, expenses are not reimbursed] then the allowance is considered part of contributory earnings. If an employer reimburses mileage, this reimbursement represents payment for gasoline, maintenance, insurance, wear and tear on the vehicle and licence fees and should not be included as part of contributory earnings); • payments for unused accumul...
Examples of Contributory Earnings in a sentence
Definition of Contributory Earnings: For all pension and other compensation purposes the parties agree that contributory earnings must include all regular recurring earnings including the following, as governed by OMERS regulations: • base wages or salary; • regular vacation pay if there is corresponding service; • normal vacation pay for other-than-continuous full-time members.
The parties agree that this Letter of Understanding, which contains an excerpt only from the OMERS website regarding the definition of Contributory Earnings, is for information purposes only and is not grievable.
Shall be the total of Contributory Earnings during the pay periods in the last pay periods, during which earnings were the highest, divided by five (5).
Signed at Thunder Bay, ON on For the Board For the Union Letter of Understanding Between Public Schools And Contributory Earnings The following definition of contributory earnings is provided for information purposes only and is Contributory earnings must include all regular recurring earnings as determined by the Pension Plan as may be amended from time to time.
FOR LIMESTONE DISTRICT SCHOOL FOR THE CANADIAN UNION OF BOARD PUBLIC EMPLOYEES LOCAL Signed the day of Collective Agreement Between Local (Secretarial, Office Clerical, Educational Assistants, Technical) The Limestone District School 1,2008-August Page As a reference for employees, the parties have agreed to include in this Letter of Understanding the current Definition of Contributory Earnings under the Pension Plan.
More Definitions of Contributory Earnings
Contributory Earnings means, notwithstanding the operation of clause 8(1)(c) and/or subsection 8(4),
Contributory Earnings means:
Contributory Earnings has the same meaning as defined in the rules of the Seller's Scheme. "Exempt Approved" means an exempt approved scheme within the meaning of section 592 of the Income and Corporation Taxes Act 1988. "Investment Adjustment" means the ▇▇▇▇▇▇ ▇nvestment return over the relevant period achieved in relation to assets of the Seller's Scheme comprised in a globally balanced portfolio of the same type as is now managed for the Seller's Scheme by Flemings (where the Investment Adjustment relates to the Main Scheme) or Gartmore (where it relates to the Supplementary Scheme); the portfolio to be established by the Seller's Scheme on the Membership Transfer Date with assets of a mid-market value equal to the Seller's Actuary's best estimate of the unadjusted Transfer Amount; such estimate, as certified by the Seller's Actuary, to be notified by the Seller to the Purchaser before the Membership Transfer Date. In the case of the Supplementary Scheme, if the Seller's Actuary and the Purchaser's Actuary agree that it is not practicable because of the amount involved to establish a portfolio as described above, the Investment Adjustment shall be by reference to the actual investment return of the Supplementary Scheme as measured by Combined Actuarial Performance Services Limited or, if that measurement is not available for any period, by reference to an index of equities and gilts comprised as mentioned in the Actuary's Letter. "Member" means, at any time or during any period specified in this schedule, a member of the Seller's Scheme who is accruing retirement benefits under the Seller's Scheme, including any person who is continuing in membership under the provisions of the Seller's Scheme relating to temporary absence from work or maternity leave. "Membership Transfer Date" means 1st January 1997 or an earlier date which the Purchaser may nominate by not less than 1 month's advance written notice to the Seller or, if the Purchaser notifies the Seller before 1st December 1996 that the Purchaser's Scheme will be contracted-out, 1st April 1997 or an earlier date which the Purchaser may nominate by not less than 1 month's advance written notice to the Seller. "Option Form" means a form to be completed by Members and delivered to the Seller's Scheme not later than 6 weeks after the date of issue, being in all material respects 105
Contributory Earnings means contributory earnings 40 within the meaning of section 37 of this Act:
Contributory Earnings means in relation to required contributions by Members or by the University on the Member’s behalf pursuant to Section 4.01, and University contributions pursuant to Section 4.05(1), that portion of a Member’s annual Earnings (or deemed Earnings pursuant to Section 1.13 in the case of a disabled Member) up to the level which ensures that the aggregate contributions to each Member’s Money Purchase Component Account does not exceed the money purchase limit for the year (as defined under the Income Tax Act).
Contributory Earnings means the member’s contributory earnings as determined under the Primary Pension Plan;
Contributory Earnings means the maximum Earnings, in a calendar year, upon which a Member is required to contribute pursuant to Section 4.01 (Required Member Contributions), effective January 1, 2025. “Contributory Earnings” for 2025 are equal to