5 CFR § 550.107 - Premium payments capped on a biweekly basis when an annual limitation otherwise applies.
(c) In any pay period during which an employee is subject to an annual limitation under § 550.106, the employee may receive the types of premium pay identified in paragraph (a) of this section only to the extent that the payment does not cause the total of his or her basic pay and such premium pay for the pay period to exceed the greater of -
(1) The maximum biweekly rate of basic pay payable for GS-15 (including any applicable locality-based comparability payment under section 5304 or similar provision of law and any applicable special rate of pay under 5 U.S.C. 5305 or similar provision of law); or
(2) The biweekly rate payable for level V of the Executive Schedule.
(d) The biweekly rates under paragraph (c) of this section are computed as provided in § 550.105(d).
(e) Premium pay paid, or projected to be paid, under this section is included in determining whether the sum of the employee's basic pay and premium pay would exceed the annual limitation under § 550.106.
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