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Mid Year Contract Change- Retro Spread Over Remaining Pays

Mid Year Contract Change- Retro Spread Over Remaining Pays

Owned by Lori Miller
Last updated: Mar 31, 2025 by Andrea Boehm

Mid Year Contract Change- Retro Spread Over Remaining Pays:

  • New Compensation Pays in Contract = Old Compensation Pays in Contract - Old Compensation Pays Paid

  • Amount to be Earned = [(Old Compensation Contract Work Days - Old Compensation Contract Days Worked) x New Compensation Daily Rate]

  • Retro Amount = (New Compensation Daily Rate - Old Compensation Daily Rate) x Days Since Raise

  • New Compensation Amount Earned = Old Compensation Accrued Wages

  • New Compensation Contract Obligation = Amount to be Earned + Old Compensation Accrued Wages

  • Add Retro Amount to New Compensation Amount Earned

  • Add Retro Amount to New Compensation Contract Obligation

 

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