Remuneration Flashcards
wages of salaries including retroactive wages or salaries
Included
Tips and other gratuities received by employees
Excluded
Total cash received by employees for commissions and draws against commissions
Included
Payment by an employer to group insurance or group pensions plans for employees
Excluded
Bonuses including stock bonus plans
Included
The value of special reward for individual invention or discovery
Excludes
Dismissal or severance payments except for time worked or for accrued vacation.
Excluded
Extra pay for overtime work.
Includes
Pay for holidays, vacations, or sick days
Includes
Annuity plans
Includes
Payments for active military duty
Excluded
Payment or allowance for hand tools or power tools used by hand provided by employees used in work operations for the insured.
Includes
Employee discounts on goods purchased from the employee’s employer
Excluded
The rental value of an apartment or a house provided for an employee based on comparable accommodations
Included
Expense reimbursements to employees to the extent that an employer’s records substantiate that the expense was incurred as a valid business expense.
Excluded
The value of lodging. other than an apartment or a house, received by employees as part of their pay, to the extent shown in the insured’s records.
Included
Supper money for late work
Excluded
Work uniform allowance
Excludes
The value of store certificates, merch, credits or any other substitutes used for money received by employees as part of their pay.
Includes
Sick pay paid to an employee by a 3rd party such as an insured’s group insurance carrier that is paying disability income benefits to a disabled employee.
Excluded
Payments for salary reduction, retirement or cafeteria plans which are made through deductions from the employee’s gross pay.
Included
Davis_bacon wages paid to employees or placed by an employer into 3rd party pension trusts.
Included
Employer provided perks such as:
a. Automobiles
b. airplane flight
c. incentive vacation
d. discount on property or services
e. Club memberships
f. Tickets to entertainment events
Excluded
Expense reimbursements to employees to the extent that an employer’s records don’t substantiate that the expense was incurred as a valid business expense.
Includes
Payment for filming of commercial excluding subsequent residuals which are earned by the commercial’s participants each time the commercial appears in print or is broadcast.
Included
Employer contributors to salary reduction, employee savings plans, retirement or savings plans- contributors made by the employer’s expense, that are determined by the amount contributed by the employee.
Excluded
Payment by an employer of the amounts otherwise required by law to be paid by the employees to statutory insurance or pension plans, such as the Federal Social Security Act.
Excluded
