Computing hourly, daily, weekly, and biweekly locality rates.

§ 531.607 Computing hourly, daily, weekly, and biweekly locality rates. (a) Apply the following methods to convert an annual locality rate to an hourly, daily, weekly, or biweekly rate: (1) To derive an hourly rate, divide the annual locality rate by 2,087 and round to the nearest cent, counting one-half cent and over as the next higher cent. Example: Annual locality rate = $50,000 Computation of hourly rate: $50,000 ÷ 2,087 = 23.957 or $23.96. (2) To derive a daily rate, multiply the hourly rate by the number of daily hours of service required by the employee's basic daily tour of duty. Example: Hourly rate = $23.96 Daily hours = 8 Computation of daily rate: $23.96 × 8 = $191.68 (3) To derive a weekly or biweekly rate, multiply the hourly rate by 40 or 80, as applicable. Example: Hourly rate = $23.96 Biweekly hours = 80 Computation of biweekly rate: $23.96 × 80 = $1,916.80 (b) Notwithstanding paragraph (a) of this section, for a firefighter whose pay is computed under 5 U.S.C. 5545b, a firefighter hourly locality rate is computed using a divisor of 2,756 hours instead of 2,087, as prescribed in 5 CFR part 550, subpart M. Also, such a firefighter's weekly and biweekly locality rates must be based on the firefighter's extended tour of duty as prescribed in that subpart. [70 FR 31304, May 31, 2005]