Annual Longevity Payment Sample Clauses

Annual Longevity Payment. Effective with the first pay of the 2016-2017 school year, all teachers who have already completed step 19 on the index (i.e. would be moving to a Step 20 or beyond if one existed) shall receive an annual longevity payment equal to four percent (4%) of that individual teacher’s annual salary. This payment shall be calculated annually and shall be paid to the teacher over the course of the school year as if it were another Step on the Index. This payment is not a one-time only payment and shall be paid annually to the employee. However, this payment does not compound or accumulate from year to year. In other words, once the employee receives the 4% longevity, there will not be another 4% longevity added to the employee’s salary (i.e., for a total of 8% or more) in the following year or thereafter. This payment shall be treated as salary subject to all mandated employee and employer contributions to STRS, Medicare, and all other entities. WESTLAKE CITY SCHOOLS SALARY SCHEDULE – 2018 – 2019 School Year BA BA+10 BA+20 BA+30 MA MA+10 MA+20 MA+30 0 $40,732 $42,769 $44,805 $46,842 $48,878 $50,915 $52,952 $54,988 1 $42,769 $44,805 $46,842 $48,878 $50,915 $52,952 $54,988 $57,025 2 $44,805 $46,842 $48,878 $50,915 $52,952 $54,988 $57,025 $59,061 3 $46,842 $48,878 $50,915 $52,952 $54,988 $57,025 $59,061 $61,098 4 $48,878 $50,915 $52,952 $54,988 $57,025 $59,061 $61,098 $63,135 5 $50,915 $52,952 $54,988 $57,025 $59,061 $61,098 $63,135 $65,171 6 $52,952 $54,988 $57,025 $59,061 $61,098 $63,135 $65,171 $67,208 7 $54,988 $57,025 $59,061 $61,098 $63,135 $65,171 $67,208 $69,244 8 $57,025 $59,061 $61,098 $63,135 $65,171 $67,208 $69,244 $71,281 9 $59,061 $61,098 $63,135 $65,171 $67,208 $69,244 $71,281 $73,318 10 $61,098 $63,135 $65,171 $67,208 $69,244 $71,281 $73,318 $75,354 11 $63,135 $65,171 $67,208 $69,244 $71,281 $73,318 $75,354 $77,391 12 $65,171 $67,208 $69,244 $71,281 $73,318 $75,354 $77,391 $79,427 13 $67,208 $69,244 $71,281 $73,318 $75,354 $77,391 $79,427 $81,464 14 $69,244 $71,281 $73,318 $75,354 $77,391 $79,427 $81,464 $83,501 15 $71,281 $73,318 $75,354 $77,391 $79,427 $81,464 $83,501 $85,537 16 $72,503 $74,540 $76,576 $78,205 $81,464 $83,501 $85,537 $87,574 17 $73,318 $75,354 $77,391 $79,427 $83,501 $85,537 $87,574 $89,610 18 $74,540 $76,576 $78,205 $80,242 $84,723 $86,759 $88,388 $90,425 19 $75,354 $77,391 $79,427 $81,464 $85,537 $87,574 $89,610 $91,647 2019-2020 School Year BA BA+10 BA+20 BA+30 MA MA+10 MA+20 MA+30 0 $41,648 $43,730 $45,813 $47,895 $49,978 $52,060...
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs

Related to Annual Longevity Payment

  • Longevity Payment 11.4-1 Longevity Payments shall be made on the June 30 Payroll check.

  • Longevity Payments All employees, who are hired on or after January 1, 1989, shall not be covered by this Article. Full-time employees on the County Payroll as of December 31, 1988, shall be entitled to longevity pay subject to the following provisions:

  • Longevity Pay If an employee leaves State Classified employment and later is rehired, he/she shall receive no longevity pay. However, once such a rehired employee has been in pay status for five (5) years, all previous service time shall be credited for longevity pay. The only exception shall be for employees rehired who repay severance pay received. (See Article 22, Section Q.)

  • Annual Payment During each calendar year, an employee may choose to receive payment for up to twenty (20) hours of accrued vacation leave or compensatory time. Request for payment may be made in November or December of each year. Such payment shall be made during the month of November or December and will be granted only if the employee has taken at least forty (40) hours of vacation/compensatory time during the calendar year. Such payment shall be at the base hourly rate only, no add-ons.

  • Interim payment At the end of each of the periods indicated in Annex I the Contractor shall submit to the Agency a formal request for payment accompanied by those of the following documents which are provided for in the Special Conditions: ➢ an interim technical report in accordance with the instructions laid down in Xxxxx X; ➢ the relevant invoices indicating the reference number of the Contract and of the order or specific contract to which they refer;

  • MINIMUM MONTHLY PAYMENT We will mail you a statement every month if your account has a balance. You agree that you will pay each month not less than the minimum monthly payment by the payment due date. The minimum monthly payment will be 3.0% for Classic accounts or 2% for Platinum accounts of your outstanding balance (“New Balance”) or $25.00, whichever is greater. If your outstanding balance is $25.00 or less, you agree to pay the balance in full. You may pay in full for all your purchases and cash advances each month, or you may repay in monthly installments. We can accept late payments or partial payments, or checks, drafts, or money orders marked “payment in full” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. A credit posting from a merchant or reversal of fees do not constitute a minimum payment. The minimum monthly payment may be allocated at the Credit Union’s discretion to pay off lower rate balances, such as promotional offers, before higher rate balances, such as cash advances or purchases. Payments in excess of the minimum monthly payment will be allocated first to higher rate balances, as applicable. From time to time, we may allow you to skip your minimum monthly payment due. If you choose to skip that payment, Finance Charges will continue to accrue in accordance with this Agreement. Payments received at: Rogue Credit Union, XX Xxx 0000, Xxxxxxx, XX 00000 on or before 5:00 PM Pacific Time on any business day will be credited to your Account as of that date; payments received by mail at that address after 5:00 PM Pacific Time or on a weekend will be posted to your Account as of the next business day. Payment crediting to your Account may be delayed up to five days if your payment is received by mail at any other address or not accompanied by the remittance portion of your Account statement.

  • Longevity Bonus Effective 2005, twenty (20) years of continuous service, an employee will receive a longevity bonus of seven hundred dollars ($700.00) per year, payable in one lump sum by the second pay period following the employee's anniversary date.

  • Minimum Payment Due Your Minimum Payment Due is listed on your Statement and equals the lesser of: • the amount of your New Balance, or • the greater of: • $30, or • 3% of the amount you owe, or • the sum of Finance Charges accrued since the last Billing Cycle (including Interest Charges and Transaction Fees), plus any Penalty Fees, Annual Fees (if applicable), and one-time fees that have been posted to your Account, plus 1% of the amount you owe. Making only the Minimum Payment Due will increase the amount of interest you pay and the time it takes to repay your balance.

  • Minimum Payment (a) Overtime worked on a Saturday or Sunday will be paid for at the rate of double Ordinary Rates. Employees required to work on a Saturday or Sunday will be afforded a minimum 4 hours work, or be paid as if for 4 hours at the aforementioned overtime rates.

  • Annual Allowance The Corporation shall pay to the Executive, in cash, in a lump sum, on the Payment Date an amount equal to two times the annual allowance to which the Executive is entitled as of the date of the Date of Termination (or, if higher, as of immediately prior to the Effective Date).

Time is Money Join Law Insider Premium to draft better contracts faster.