Thursday, August 28, 2008
Retro pay? -
So, my old work called me and told me that i had a check there, i was confused and asked whats it for and she said retro pay...my husband got one like that a couple weeks back but we dont know what it is ..can anyone explain that..by the way we both worked for the same company.. Retro is another word for back pay. You say that you both "worked" for the company, so I'm assuming you don't work for them any more? If that's the case, then it would be for pay owed you from your previous paycheck up until your last day. Check the dates on your paystubs. Or, retro is also used for pay raises that took effect in the past. If you were supposed to get your review and raise in October, but your boss didn't get around to it until December, then once your pay is increased, they give you retro pay for the salary difference going back to your original review date in October. Have fun spending your extra cash! perhaps you got a pay increase on say June 1, that was really effective March 1. you would be entitled to the hourly increase times the number of hrs you worked from Mar 1- June 1 It can mean that they owe you money not paid yet. When my company gave me a raise and did not make it to payroll in time of the effective date the next check included the time as retro pay. It could also be that your pay schedule lags a week. That is just a guess though.
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