Months pay definition

Months pay means whichever is the more beneficial of the following calculations:
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Months pay means Annual Pay divided by twelve.
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Months pay means an Employee’s Compensation divided by twelve (12).
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Examples of Months pay in a sentence

  • Within seven (7) Working Days following the Service Transfer Date, the Supplier shall provide to the Customer or any Replacement Supplier, in respect of each person on the Supplier's Final Staff List who is a Transferring Supplier Employee: the most recent Month's pay slip data; details of cumulative pay for tax and pension purposes; details of cumulative tax paid; tax code; details of any voluntary deductions from pay; and bank/building society account details for payroll purposes.

  • I rec’d but One Months pay from July 1779 untill the Army was disbanded in S.C. I believe November 1783.

  • Table 1-1 Years of Service and Separation LENGTH OF SERVICESEPARATION ALLOWANCE1 year and less than 2 years3 Months' pay2 years and less than 3 years6 Months' pay3 years and less than 5 years9 Months' pay5 years and over12 Months' pay l) The Authority will cooperate with the Union in verifying that the work entailed in data input and retrieval as specified in this Article is performed by members of the Union.

  • Examples: Months, pay periods, terms, hours, or zero.6. Enter the planned period of effort for the employee class in the Position Annual Basis field.


More Definitions of Months pay

Months pay means:
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Related to Months pay

  • Weeks pay means the ordinary weekly rate of wage for the employee concerned.

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data Federal Register / Vol. 86, No. 93 / Monday, May 17, 2021 / Rules and Regulations 26817 from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.

  • Pay Period means a two (2) calendar week period beginning on a Sunday and ending on the second Saturday thereafter.

  • Hire Date has the meaning given to it in Section 2.6(a).

  • Current year means the financial year, which has already commenced, but not yet ended;

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.