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 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 ”the straight time hourly rate multiplied by the number of regularly scheduled hours of work per year”.
Examples of Rate of Earnings in a sentence
Final Earnings" shall mean the average Rate of Earnings during the three (3) years of the Participant's employment with the Employer for which the Participant's earnings were at their highest level.
More Definitions of Rate of Earnings
Rate of Earnings means the rate of annual Compensation received from the Employer on January 1st of each Plan Year.
Rate of Earnings means 7.24% per annum calculated on a 30/360 day count basis.