Amount of Longevity Pay. The annual longevity pay shall be at the rate of two thousand dollars ($2000.00), starting at year five (5), and increasing two hundred and fifty dollars ($250.00) each year thereafter, to a maximum payout amount of six thousand dollars ($6,000.00) The amount paid will be as follows:
Amount of Longevity Pay. The annual longevity pay shall be at the rate of one-half of one percent (0.5%) of base salary multiplied by the number of years of service with the City up to a maximum of ten percent (10%). The actual calculation is as follows:
Amount of Longevity Pay. Employees covered by this Resolution are entitled to Longevity Pay in the amount of five thousand dollars ($5,000.00) gross, each year, to be paid no later than the Wednesday prior to Thanksgiving.
Amount of Longevity Pay. The annual longevity pay shall be at the rate of one-half of one percent (0.5%) of annual base salary multiplied by the number of years of service with the City up to a maximum of ten percent (10%), or five thousand dollars ($5,000.00), whichever is the lesser amount. All employees hired after December 20, 1993, may earn longevity pay in accordance with the above requirement up to a maximum of two thousand five hundred dollars ($2,500.00). Effective the first full pay period following July 1, 2016, the maximum will be increased to three thousand dollars ($3,000.00) per year. The calculation used in an example is as follows:
Amount of Longevity Pay. Longevity pay shall be payable starting at year five (5), and increasing, according to the below-listed chart to a maximum payout of nine thousand dollars ($9,000.00). The amount will be paid as follows: 21 Years or more $9,000 Effective the first full pay period following July 1, 2025, longevity pay shall be payable starting at year five (5), and increasing, according to the below-listed chart to a maximum payout of ten thousand dollars ($10,000.00). The amount will be paid as follows: 21 Years or more $10,000 Effective the first full pay period following July 1, 2026, longevity pay shall be payable starting at year five (5), and increasing, according to the below-listed chart to a maximum payout of eleven thousand dollars ($11,000.00). The amount will be paid as follows: 21 Years or more $11,000
