Bank of Association Hours Sample Clauses

Bank of Association Hours. 1. The College will establish an annual Bank of Association Hours to pay the cost attributable to replacing specified Association Officials for periods of paid release time they are involved in representational activities under the Agreement. Association officials may devote more time to Association business than covered by the Bank, but such time will not be considered hours worked for the College and will not be compensated in any way by the College. 2. At the beginning of the academic year, the College will contribute a “block” of time for use by the Association President (equal to 346 clock hours if the President is a Teaching Faculty member or 430 clock hours if the President is an Academic Professional, or a prorated mix if the President is working as both Teaching Faculty and Academic Professional). The College will simultaneously credit the Bank with another “block” of time determined in the same manner for use by the Grievance Chair. 3. On or before July 15 of each year, the Association may purchase one additional “block” of Bank time for use during the subsequent academic year by the President or by a proxy designated by the President and may purchase one additional “block” of Bank time for use during the subsequent academic year by the Grievance Chair. 4. The Association shall reimburse the College for the cost of each “block” of time it purchases at the appropriate clock hour rate, including costs of FICA, retirement, and other applicable benefits. The clock hour rate to be used for 2016-17 will be $25.55 for Teaching Faculty and $21.10 for Academic Professionals. Rates for subsequent years will increase by 1.5 percent for 2017-18, an additional 1.5 percent for 2018-19, and an additional 1.0 percent for 2019-20.