2007-02-15 07:11:01 · 4 answers · asked by bmdrez 2 in Business & Finance ➔ Other - Business & Finance
Retroactive Pay
2007-02-15 07:17:49 · answer #1 · answered by bmwdriver11 7 · 0⤊ 0⤋
Retro pay is the term generally used for a compensation item that is retroactive-- meaning it was due to you before, but not actually paid, until the current pay period.
2007-02-15 07:20:59 · answer #2 · answered by ? 1 · 0⤊ 0⤋
If your start date of a job is Jan 1, 2006 and you make 50K and you dont get your first review and a raise to 60K until June of 2007 (18 months), an employer will pay you a lump sum amount of 5K (10K x half the year) because you worked half of a year without your pay increase. This payment is called "retro pay"
2007-02-15 07:17:48 · answer #3 · answered by Paul A 2 · 0⤊ 1⤋
It's back pay or money they owe you.
2007-02-15 08:16:58 · answer #4 · answered by Teenie 7 · 0⤊ 0⤋