Computation of Hourly Rate
COMPUTATION OF HOURLY RATE
All pay is computed on the basis of 2080 work hours annually, regardless of whether an employee is paid biweekly or monthly.
1. In order to calculate hourly base rate of pay for full-time employees:
|
Biweekly Base Rate of Pay x 26 |
= Hourly Base Rate of Pay |
|
2080 hours |
|
Monthly Base Rate of Pay x 12 |
= Hourly Base Rate of Pay |
|
2080 hours |
2. In order to calculate hourly base rate of pay for part-time employees:
|
Biweekly Base Rate of Pay x 26 |
= Hourly Base Rate of Pay |
|
2080 hours X FTE* |
|
Monthly Base Rate of Pay x 12 |
= Hourly BaseRate of Pay |
|
2080 hours x FTE* |
*denotes "full-time equivalency."
3. An employee who is paid on a monthly basis and is assigned a period rate of pay shall have the wage payment for any partially worked pay period computed as follows:
|
Number of Hours Worked |
= Percentage of Time Worked |
|
Number of Work Hours in Month |
|
Monthly Period Rate |
X |
Percentage of Time Worked |
= Wage Payment |