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22:08 Feb 24, 2006
This question was closed without grading. Reason: No acceptable answer
English to English translations [PRO] Bus/Financial - Human Resources / Compensation plan
English term or phrase:grandfathered + clock
• 2006 NAR clock is 12 months (plus month 0). Accounts closed in 2005 are grandfathered at a 13 month clock.
NAR stands for New Account Revenue
I do know what is a grandfather clause. But I still don't understand the meaning here.
what industry is this? In some industries, especially retail, the fiscal year is divided into thirteen four-week periods, i.e., transactions are not reported on a calendar basis. "Clock" could refer to "fiscal year". Is there any more context?
In this interpretation, "grandfathered" would mean they were kept in the system but only in an archival sense (in a fictitious month), and "clock" would appear to be a blunder for "calendar". Only thought of this while writing previous note; it's a guess!
Hello Michel. I wish I could help you here, but this is terrible English. The only thing I can think of is that accounts closed last year are assigned to month 0. That is not really suggested by the words, but would seem the only sensible solution.
04:22 Feb 25, 2006
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10 hrs confidence: peer agreement (net): +2
an exception that allows an old rule to continue to apply to some existing situations, when a new ru
Explanation: tr.v. grand·fa·thered, grand·fa·ther·ing, grand·fa·thers
To exempt (one involved in an activity or business) from new regulations: The new ordinance restricts the size of billboards, but it grandfathers those erected before 1997.
In American English, a grandfather clause, or grandfather rule, is an exception that allows an old rule to continue to apply to some existing situations, when a new rule will apply instead in all future situations. It is often used as a verb: to "grandfather in" means to grant such an exemption. For example, a "grandfathered power plant" may be exempt from tougher pollution laws.
Often, such a provision is used as a compromise, to effect new rules without upsetting a well-established physical or political situation. As well as being "grandfathered in" to avoid suffering new penalties, people may be "grandfathered in" to receive new benefits they are not otherwise entitled to. For example, if a company has a pension plan and then after a certain date the benefits get better but the already-retired get the benefits, then one might say they were "grandfathered in". This amounts to the same thing as being "retroactively applied".