Understanding Discretionary Beneficiaries . Discretionary Leave - Maternity - In addition to the disability period, during which sick leave may be used an employee may also request the use of annual leave, earned compensatory time, or leave without pay to extend the leave of absence.. A member shall receive approval for no more than one Discretionary Leave per leave year.. In terms of the Skills Development Regulation, a Discretionary Grant is a grant paid to applicants at the discretion of the Safety & Security Sector Education and Training Authority (SASSETA), for Skills Development Projects, linked to scarce and critical skills, in the Safety and Security Sector. Discretionary (personal) leave is defined as accumulated state personal leave taken at the individual employee’s preference (discretion) for which it is usually possible to set a schedule in advance. The government’s terms, “non-optional” and “non-discretionary” have been kept to preserve the intended meaning. Failure to exercise of discretion, means failure to make choices between the courses of action where such power to make a choice was vested upon the public authority by a statute. 1. A discretionary leave of absence is one that an employer opts to create for their company absent a law that governs how a particular leave needs to be administered. Likewise, discretionary is defined only after you have defined what is non-discretionary. Discretionary definition is - left to individual choice or judgment : exercised at one's own discretion. The amount, the requirements, and the timing are not disclosed in advance. Discretionary portfolio management does not involve the client actively and the investment manager takes all the decision on his behalf whereas a non-discretionary investment … So what kind of reason can you provide that's compelling enough? A non-discretionary account is one in which the investor decides on what trades to make. Related: Guide to People Management: Definition, Tips and Skills For a whole host of reasons, employers might want to provide employees leaves of absence that they’re not required by law to provide. A non-discretionary account is an account where the client always decides whether or not to conduct a trade.. What is a Discretionary Account? The FLSA rule defines “non discretionary” bonuses as “Promised bonuses such as those announced to employees to induce them to work more efficiently or to remain with the firm are considered non-discretionary. A discretionary account (also known as a managed account) is a type of client account for which an adviser or dealer has the discretion to make investment decisions and transact in securities without the client's express consent to each transaction; in a non-discretionary account, the client must consent to each transaction. Discretionary dividends are, as the name implies, dividends paid out to shareholders at the discretion of the board of directors. * But perhaps the most beneficial reason for financial advisers to make use of discretionary fund managers is because it enables them to service more clients and therefore generate more fee revenue, which has raised questions as to whether discretionary … If you want to grant a broker authorization to trade on your behalf, make sure you think through the risks involved in allowing someone to make decisions about your money. Learn more. Non-Discretionary bonus. This definition has also been a source of significant grief to many foreign nationals who have been prevented from entering the country due to varied interpretations of these terms by port of entry officers from the Canada Border Services Agency (CBSA). Because there is no law compelling boards to issue dividends for common stock, all dividends for common stock are discretionary. Discretion in Decision Making. Find more ways to say discretionary, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. Determining Whether Favorable Exercise of Discretion is Warranted. 1.5 “assets” means (i) the Portfolio and/or (ii) the Funds. Another word for discretionary. Discretion is the power or right to make official decisions using reason and judgment to choose from among acceptable alternatives.. These cash payments are not part of the employee’s contract, and the employee should not expect to receive the bonus regularly. nondiscretionary trust: n. a trust in which the trustee is directed to invest only in specifically named securities and to diversify the investments among certain types of securities. The paper deals with various situations where there is failure to exercise such discretionary powers when it could have been most apt to do so to protect the larger interest of the non-state party. In this article, we explain the difference between discretionary and non-discretionary bonuses, why understanding the difference is important for employers and some tips for reducing the burden of re-calculating overtime pay. Non Discretionary Accounts. See more. Discretionary and non-discretionary trusts are valued using different approaches. Discretionary leave shall be taken at the individual employee’s discretion, subject to prior approval by the immediate supervisor. What does this mean? Non-discretionary portfolios must not be included in a firm’s composites. For example, they may be … ... related to compliance and is not a sufficient reason to classify portfolios as non-discretionary. A trust in which the trustee has no ability to make investment decisions with regard to the assets in the trust and/or has no control over when and how the assets are distributed to the beneficiary.In a nondiscretionary trust, the trustee simply sees to it that the grantor's wishes are carried out. While a bonus may be labeled discretionary, if it does not comply with the provisions of the statute, then the bonus is not an excludable discretionary bonus. In the case of … 1.6 “authority” means any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government including but not … (See: trust ) You can't expect someone to commit themselves to expending an extraordinary effort if they don't have a good reason to do that. Length of leave: An Unpaid Discretionary Leave may be … Examples include individual or group production bonuses, and bonuses for quality and accuracy of work. Discretionary definition, subject or left to one's own discretion. The employer alone determines what the reason is for providing the bonus and does so whenever they see fit. SUMMARY: Many employers give their employees discretionary bonuses or commission.However, “discretionary” does not mean that employers can pay whatever amount they choose. Non-Discretionary Portfolio Management Services under this Agreement. Discretionary and Non-discretionary portfolio management are two portfolio management styles. In a recent case, the Court of Appeal agreed with the High Court that the amount of “discretionary” commission paid to an employee should be increased. A non-discretionary bonus is a bonus that must be paid out if certain criteria are met. What "non-optional" and "non-discretionary" travel actually means has been the subject of much debate among immigration practitioners. How to use discretionary in a sentence. One of the most common methods organizations use to achieve this is pay (for example, a performance bonus for exceeding a quota). A discretionary payment will be made at the sole discretion of the employer. It’s a bonus that is announced and established ahead of time. The label assigned to the bonus and the reason for the bonus do not conclusively determine whether the bonus is discretionary. There is usually a particular reason for a person to be named a discretionary beneficiary. 1. For example, employees might be told that if they have 100% attendance over a certain period of … non-discriminatory definition: used to describe a situation in which everyone is treated in the same way: . A discretionary bonus is extra pay that a company agrees to provide to an employee for specific or unexpected situations. Some scenarios were left out if the hypothetical parties involved were able to enter Canada by right, such as First Nations, and Canadians. Give them a reason. In macroeconomics, discretionary policy is an economic policy based on the ad hoc judgment of policymakers as opposed to policy set by predetermined rules. In these accounts, brokers act as a facilitator; they merely receive and execute the clients requested trades, attempting to get the best prices possible for the investor. The distinction that matters is whether the payment is discretionary or non-discretionary. Discretionary trading in your account is allowed only if you have authorized a broker to do so in writing and the broker’s firm has approved it. The favorable exercise of discretion and the approval of a discretionary adjustment of status application is a matter of administrative grace, which means that the application is worthy of favorable consideration. Discretionary vs. A non-discretionary trust, also known as a fixed interest trust, is a trust in which the trustee, having no decision-making powers in how the distributions are to be made to the beneficiary(ies), must follow the terms of distribution set out in the trust instrument. The trustee has no discretion or personal decision-making power in the matter. A discretionary account is an account that gives an investment adviser the authority to make individual trades without the consent of their client. Non-discretionary Trust Under a non-discretionary trust, the trustee does not have full authority over how the trust assets are distributed or paid out. In a non-discretionary account, the adviser may find themselves attempting to contact the client repeatedly to gain their permission to execute transactions in the account, as the market moves against them.
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