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:
Appears in 8 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Amount of Longevity Pay. The annual Employees shall earn longevity pay shall be at the rate of one-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 six thousand dollars ($6,000.00) per year whichever is the lesser amount. The actual calculation used in an example is as follows:
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
