SALARY ON definition

SALARY ON. Y" RATING: When an employee is "Y" rated, his salary immediately prior to the date of downward reclassification is frozen and may not be increased until the maximum of the salary range assigned his new classification exceeds the salary he was earning immediately prior to establishment of the "Y" rate. The employee shall then be placed at the point in the range most closely representing an approximately five percent (5%) increase in salary and shall retain his anniversary date that was in effect immediately prior to the establishment of the "Y" rate. For purposes of this section the term "Y" rate shall mean the amount equal to the difference between the salary for the prior classification and the new classification. Sec. 510 SALARY RATE ON TRANSFER: Whenever an employee is voluntarily or involuntarily transferred or assigned to a position in a different classification having the same salary range as his former position, he shall retain his salary rate and his anniversary date.
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SALARY ON. Y" RATING: When an employee is "Y" rated, his Base Salary, immediately prior to the date of downward reclassification, is frozen and may not be increased until the maximum of the Base Salary range assigned his new classification exceeds the Base Salary he was earning immediately prior to establishment of the "Y" rate. The employee shall then be placed at the point in the range most closely representing approximately five percent (5%) increase in Base Salary and shall retain his probation hours needed and/or merit increase hours needed that were in effect immediately prior to the establishment of the "Y" rate. Sec. 410 SALARY RATE ON TRANSFER: Whenever an employee is transferred or assigned to a position in a different classification having the same salary range as his former position, he shall retain his salary rate and probation hours needed and/or merit increase hours needed. The employee shall then be placed at the point in the range most closely representing approximately five percent (5%) increase in Base Salary and shall retain his probation hours needed and/or merit increase hours needed immediately prior to the establishment of the "Y" rate. Flexible benefit allowances shall be provided in accordance with the provisions of Section 417.
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Examples of SALARY ON in a sentence

  • SALARIED EXEMPT EMPLOYEES SHALL BE PAID 1/26TH OF THEIR ANNUAL SALARY ON EACH PAY DAY.

  • IN ADDITION, WITHIN THIRTY (30) DAYS FOLLOWING COUNTY RETIREMENT, AN EMPLOYEE’S REMAINING SICK BANK BALANCE, IF ANY, SHALL BE PAID INTO THE EMPLOYEE’S RETIREE HEALTH SAVINGS PLAN AT A FIFTY PERCENT (50%) RATE UP TO A MAXIMUM OF SEVENTY-TWO (72) DAYS BASED UPON THE EMPLOYEE’S CURRENT SALARY ON A PRETAX BASIS.

  • COMPENSATION ON THE EXTRA-DUTY SCHEDULE SHALL BE DETERMINED BY MULTIPLYING THE BASE SALARY ON THE TEACHER’S SALARY SCHEDULE BY THE APPROPRIATE INDEX.

  • The fortnightly salary is calculated using the following formula: Fortnightly salary = Annual salary x 12 / 313 SALARY ON ENGAGEMENT, PROMOTION OR TRANSFER When an employee commences in or is promoted within IP Australia, salary will be payable at the minimum of the pay scale applicable to the employee’s classification.

  • SALARY ON REDUCTION When an employee transfers to a lower classification, either on a temporary or permanent basis, previous periods of service at that or a higher classification will be taken into account by the Director General in determining the pay point.

  • C.3 SALARY ON APPOINTMENT TE UTU TĪMATANGA Salary on appointment will have regard to the appointee's relevant skills, qualifications and experience and the University's recruitment and retention experience.

  • It intends to provide guidelines for better promotion of research.

  • CommissionerMS YesNoAbstainABSENTLauren Robinson Mahshid Tarazi Phillip Tate 12.2.4 SALARY ON EMPLOYMENT B.

  • R1b : REMUNERATION - SALARY ON TERMINATION RULE 1: TERMINATION DURING COMMENCEMENT MONTHi. Termination within the Commencement period for [FORMAT F 10b – TRAINEE FEE CHART] Trainee Staff shall be considered as training time converted into cash value taken as training fees and the amount shall be due to the company.ii.

  • SALARY ON REDUCTION D7 Where an employee permanently moves to a lower classification (for reasons other than misconduct or under performance), salary will be payable at the top point in the salary range of the lower classification.

Related to SALARY ON

  • Salary offset means the with- holding of amounts from the current pay account of a Federal employee to satisfy a debt owed by that employee to the United States.

  • Salary as defined in Section 3.1(a).

  • Annual Salary means the salary given under this Part.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Salary range is the range of rates between, and including, the minimum and maximum rate currently authorized for the class;

  • Basic Compensation means Salary and Benefits.

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Normal salary means the salary that would be paid to a participating employee if that person was not participating in a Plan and includes salary expressed as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate. It includes all allowances that are paid as an annual rate, fortnightly rate, weekly rate, daily rate or hourly rate but not overtime payments and shift work penalty rates unless they are paid as a component of an annualised rate.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).