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.
Covered payroll means the annual salaries of all active members.
Covered payroll means the annual salaries of all active members on June 30.
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.