Rate of Earnings definition

Rate of Earnings means the compensation paid by the Employer to the Employee as salary, wages or other remuneration as shown on the W-2 Form of the Internal Revenue Service, or such other form as may supersede or replace said W-2 Form, excluding any severance pay or pay for accrued leave.

Rate of Earnings means “the straight time hourly rate multiplied by the number of regularly scheduled hours of work per year“.

Rate of Earnings means the rate of annual Compensation received from the Employer on January 1st of each Plan Year.

Examples of Rate of Earnings in a sentence

• If a recall under is not possible, then recall will be offered to any vacancy within the same Job Category, at the same or lower Annual Rate of Earnings, within any Administrative Region, provided the Employee has the skills, ability and qualifications to perform the duties of the position.

• If a recall under is not possible, then recall will be offered to any vacancy within the same Job Category, at the same or lower Annual Rate of Earnings, within the Employee's Administrative Region, provided the Employee has the skills, ability and qualifications to perform the duties of the position.

• A Site Surplus Employee will not be transferred under this process into a position with a higher wage classification, except in the case of Surplus Employees in wage classifications A through G who may opt to transfer to positions at a higher wage classification (no higher than wage classification provided that the Employee’s Annual Rate of Earnings is not increased.

• Step Failing a placement at Step the Surplus Employee shall have the option of being placed in an available vacancy within the Employee’s Job Category at the same Status and Annual Rate of Earnings in any Administrative Region or in the case of central department vacancies, within Administrative Region, the Employee has identified on Information Sheet provided the Employee has the skills, ability and qualifications to perform the duties of the position.

• If, within twenty-four (24) calendar months of recall, there is a vacancy in the recalled Employee’s Job Classification and Status at the Surplus Employee’s displacement Annual Rate of Earnings within the Displacement Job Location such Employee shall be offered the position without interview prior to consideration of Seniority List A and List B applicants for the same vacancy provided that the Employee states in application that has an entitlement under this clause in order for this clause to take effect.

• Step Failing a placement at Step the Surplus Employee shall have the option of being placed in an available vacancy within the Employee’s Job Category at the same Status and Annual Rate of Earnings in the Employee’s Administrative Sub-Region, or in the case of central department vacancies, Administrative Region, provided the Employee has the skills, ability and qualifications to perform the duties of the position.

More Definitions of Rate of Earnings

Rate of Earnings means the annual compensation paid by the Employer to the Employee as salary, wages or other remuneration as shown on the W-2 Form of the Internal Revenue Service, or such other form as may supersede or replace said W-2 Form, plus any amount deducted for a Town-sponsored deferred compensation program. Payment of accrued sick leave and vacation shall not be included in rate of earnings, nor shall any deduction from the retirement plan contribution be made from such actual payments.

Rate of Earnings means 7.24% per annum calculated on a 30/360 day count basis.