Lump sum is a one-time payment of money, as opposed to a series of payments. Economics offers various definitions for money, though it is now commonly defined as any good or token that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts. ...
it is cool The present value of a single or multiple future payments (known as cash flows) is the nominal amounts of money to change hands at some future date, discounted to account for the time value of money, and other factors such as investment risk. ... An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ...
First, it is important for you to understand exactly what a lumpsum is. A lumpsum is a settlement or contract between you, your employer where applicable, and your employer's workers' compensation insurer.
However, when accepting a lumpsum settlement, an employee is presumed incapable of returning to work for the employer, and the presumption continues for one month for every $1,500.00 included in the lumpsum.
Acceptance of a lumpsum agreement by all parties creates the presumption that you are physically unable to return to work with your employer.
First, to reiterate one of the points made in the House Administration regulations, any lumpsum payment must be made in compliance with the provision of the House rules requiring that each employee perform duties for his or her employing office that are commensurate with the compensation paid to that employee.
Thus before making a lumpsum payment to an employee, a Member must be satisfied that the employee has performed services for the congressional office that are commensurate with the amount the employee is to be paid in the lumpsum combined with his or her regular salary.
In addition, where the Committee finds that lumpsum payments were made with such an intention, the Committee reserves the right to determine that those payments should be treated as part of the recipient's basic rate of pay, thus subjecting that individual to the applicable requirements and restrictions.
Feeds |
Contact