Covered payroll definition

Covered payroll means all amounts included in payroll, salary, or compensation paid to active members on which contributions to and benefits from the pension plan are based according to the definition of salary in subsection 10 of North Dakota Century Code section 15-39.1-04. Covered payroll may also be referred to as pensionable or eligible payroll, salary, compensation, or earnings.
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Covered payroll means the annual salaries of all active members.
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Covered payroll means the annual salaries of all active members on June 30.
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Examples of Covered payroll in a sentence

  • Covered payroll is the sum of the “gross earnings” for the applicable months of the TMRS-3 reports.

  • Covered payroll is the payroll on which contributions to a pension plan are based.

  • Covered payroll is the sum of the "gross earnings" for the applicable months of the TMRS-3 reports.

  • Covered payroll was based on the Charter School's payroll for the year ended June 30, 2018.

  • Covered payroll was based on the Charter School's payroll for the year ended June 30.

  • Covered payroll shown includes the payroll for defined benefit plan actives, members in DROP and investment plan members.

  • Covered payroll: Gross annual earnings for the prior plan year ending on the valuation date, increased by the salary assumption to reflect estimated payroll for the year following the valuation date.

  • Covered payroll refers to all compensation paid by the District to active employees covered by the Plan.

  • Covered payroll for this schedule is that of the prior fiscal year which is the basis for the current period NPL valuation rolled forward.> The amounts presented for each fiscal year were actuarial determinted at 12/31 and rolled forward to the measurment date.> This schedule is presented to illustrate the requirements to show information for 10 years.

  • Covered payroll includes all payroll on which a contribution is based.


More Definitions of Covered payroll

Covered payroll means the annual amount of pensionable salaries for full-time employees who are members of the CRS. The City represents and warrants that this amount has been employed in the actuarial calculations referenced throughout this Agreement, including, but not limited to, the calculation of the City’s Annual Contribution. This definition only applies to the terms and provisions of this Agreement.
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Related to Covered payroll

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Payroll means total salaries and wages before deducting any personal or dependency exemptions.

  • Permitted Payments has the meaning specified in Section 7.06(b).

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • Covered Expense means expense incurred only for the following:

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Restricted Payment means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s stockholders, partners or members (or the equivalent Person thereof).

  • Consolidated Depreciation and Amortization Expense means with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Restricted Payments as defined in Section 7.6.

  • Covered Compensation means any Incentive-Based Compensation granted, vested or paid to a person who served as an Executive Officer at any time during the performance period for the Incentive-Based Compensation and that was Received (i) on or after October 2, 2023 (the effective date of the Nasdaq listing standards), (ii) after the person became an Executive Officer, and (iii) at a time that the Company had a class of securities listed on a national securities exchange or a national securities association such as Nasdaq.