What exactly does a RETRO CHECK mean???

[Hoeboy]

My work place called and said I got a retro check dating from July of last year. Something about my work contract finally being settled blah blah. I have no idea what she is talking about but it's an extra paycheck so I'm happy. Time for me to get an XBOX but I am still curious as to how this happened?

 

[Electric Amish]

Retro=Retroactive

Main Entry: ret·ro·ac·tive
Pronunciation: -'ak-tiv
Function: adjective
Etymology: French rétroactif, from Latin retroactus, past participle of retroagere to drive back, reverse, from retro- + agere to drive -- more at AGENT
Date: 1611
: extending in scope or effect to a prior time or to conditions that existed or originated in the past; especially : made effective as of a date prior to enactment, promulgation, or imposition <retroactive tax>

amish

 

[Hoeboy]

whoa, i am enlightened someone with a more concise answer?

 

[Electric Amish]

Ok...

You did something back in July that you got paid for. The pay rate apparently wasn't set in stone. It is now set in stone and it is more than what you were paid back in July. You are now getting paid that difference retroactively from the present, progressing back to the date that you started.

sheesh!

amish

 

[Platypus]

It means you have a set day you got a pay increase or more money, and you might not receive that money right away because of the way cheques are dealt with. For example, you may be up for review on the 1st of Feb. but you may not get the review until march. You will get "retro" pay, or however much more you should have gotten on every hour you worked, on this retro cheque.

 

[Thegonagle]

It's obviously related to fashion. For example, when you see a woman with big bangs and tightly rolled jeans, you can tell her, "Yo, RETRO CHECK! Bangs and safety pins went out in 92!"

 

[Hoeboy]

ahhh. thank you amish and corporate. btw corporate, do u have AIM? if i remember correctly, you are a teacher right? i'd love to talk to u sometimes.

 

[Platypus]

Originally posted by: Hoeboy
ahhh. thank you amish and corporate. btw corporate, do u have AIM? if i remember correctly, you are a teacher right? i'd love to talk to u sometimes.

Sure: Gaim - CorporateRec

 

[teckmaster]

Here's my explanation.

I work for a Technical school. We get our money by the four surrounding districts in the area because they all send their kids here. Our fiscal year is July 1 to June 31. The four districts don't settle their raises until October. That means I don't get mine till October. But since our fiscal year begins july 1, I get that raise amount starting from then. So say I get 50 cents in a couple weeks. I don't actually see it till October which means that I get a check for the total hours times the raise amount. Say 600 hours * .50 = $300. It's just money that you didn't get at the time when you were supposed too.

 

[Moonbeam]

The check is for 92 cents. Knock yourself out at the mall.