Common use of Amount of Longevity Pay Clause in Contracts

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. 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 ($5,000.005,000), 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)2,500) per year. Effective the first full pay period following July 1, 2016, the twenty five hundred dollars ($2,500) maximum will be increased to three thousand dollars ($3,000.00) 3,000 per year. The calculation used in an example is as follows:

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 ($5,000.005,000), 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)2,500) per year. Effective the first full pay period following July 1, 2016, the twenty five hundred dollars ($2,500) maximum will be increased to three thousand dollars ($3,000.00) 23,5000 per year. The calculation used in an example is as follows:

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, Employees shall may earn longevity pay 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 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 yearyear whichever is the lesser amount. The calculation used in an example is as follows: