Average Annual Wage Law and Legal Definition
Average annual wage is the average of the annual wage paid by the employer. The average annual wage is calculated by taking the total wages (payroll) and dividing by the average annual employment. The amount is determined by dividing the total wages paid by employers during a 12-month period by the average monthly employment reported by employers for the same period. Alaska Stat. § 23.20.520 is an example defining Average Annual Wage.
