Budget Shortfall Mitigation (BSM) Bonus Program Sample Clauses

Budget Shortfall Mitigation (BSM) Bonus Program. In each fiscal year of this Agreement, all active or on-leave bargaining unit employees with a time base as of May 1 of the applicable fiscal year shall receive a Budget Shortfall Mitigation Bonus. The amount of the BSM Bonus shall be the same amount for each full-time employee and a pro-rated amount, based on time base, for each part-time employee. The amount of each year’s bonus will be determined by dividing the remaining bonus/stipend funds by the number of eligible full-time equivalent bargaining unit employees. The remaining funds are the funds in the pool of $1,112,709, inclusive of benefits (established pursuant to the parties’ 2000-2003 Agreement) less the funds paid for that fiscal year’s Long-Term Service Bonuses and Educational Achievement Stipends. Should the BSM Bonus be less than $100.00 per full-time equivalent bargaining unit employee, the bonus will not be paid and the pool available for the BSM Bonus will be rolled over to the next fiscal year’s funds available for BSM Bonuses. BSM Bonuses for 2003/04 will be paid no later than December 1, 2005. BSM Bonuses for 2004/05 will be paid no later than February 1, 2006. If the BSM Bonus for 2004/05 can be paid by December 1, 2005, the parties may agree to consolidate the bonuses for 2003/04 and 2004/05. BSM Bonuses for subsequent fiscal years will be paid no later than November 1 immediately following each fiscal year.
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Budget Shortfall Mitigation (BSM) Bonus Program. In each fiscal year of this Agreement, all active or on-leave bargaining unit employees with a time base as of May 1 of the applicable fiscal year shall receive a Budget Shortfall Mitigation Bonus. The amount of the BSM Bonus shall be the same amount for each full-time employee and a pro-rated amount, based on time base, for each part-time employee. The amount of each year’s bonus will be determined by dividing the remaining bonus/stipend funds by the number of eligible full-time equivalent bargaining unit employees. The remaining funds are the funds in the pool of $1,112,709, inclusive of benefits (established pursuant to the parties’ 2000-2003 Agreement) less the funds paid for that fiscal year’s Long-Term Service Bonuses and Educational Achievement Stipends. Should the BSM Bonus be less than $100.00 per full-time equivalent bargaining unit employee, the bonus will not be paid and the pool available for the BSM Bonus will be rolled over to the next fiscal year’s funds available for BSM Bonuses. BSM Bonuses will be paid no later than November 1 immediately following each fiscal year.
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Related to Budget Shortfall Mitigation (BSM) Bonus Program

  • State Employee Group Insurance Program (SEGIP) During the life of this Agreement, the Employer agrees to offer a Group Insurance Program that includes health, dental, life, and disability coverages equivalent to existing coverages, subject to the provisions of this Article. All insurance eligible employees will be provided with a Summary Plan Description (SPD) called “Your Employee Benefits”. Such SPD shall be provided no less than biennially and prior to the beginning of the insurance year. New insurance eligible employees shall receive a SPD within thirty (30) days of their date of eligibility.

  • Deferred Compensation Program ‌ Unit members shall continue to be eligible to join the County’s Deferred Compensation Plan. Said employees will be bound by the same Plan, rules and participation agreements as are generally applicable to other County employees. DSA acknowledges that County retains the right to alter, amend, or repeal the current plan, rules, and participation agreements, at any time. The County shall not charge an administrative fee to participating employees.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Sick Leave Incentive Program MSUAASF and Minnesota State may develop a sick leave incentive program through the establishment of a joint committee.

  • Treatment of Passthru Payments and Gross Proceeds The Parties are committed to work together, along with Partner Jurisdictions, to develop a practical and effective alternative approach to achieve the policy objectives of foreign passthru payment and gross proceeds withholding that minimizes burden.

  • DEPENDENT CARE REIMBURSEMENT ACCOUNT During the term of this MOU, Management agrees to maintain a Dependent Care Reimbursement Account (DCRA), qualified under Section 129 of the Internal Revenue Code, for active employees who are members of LACERS, provided that sufficient enrollment is maintained to continue to make the account available. Enrollment in the DCRA is at the discretion of each employee. All contributions into the DCRA and related administrative fees shall be paid by employees who are enrolled in the plan. As a qualified Section 129 Plan, the DCRA shall be administered according to the rules and regulations specified for such plans by the Internal Revenue Service.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Sick Leave Donation Program A Labor Management Committee will be established for the purpose of proposing rules and procedures for a new, program. The LMC will be to develop consistent, transparent and equitable proposals for processes across all departments within the City. The LMC shall also explore proposals to lower the minimum leave bank required to donate sick leave and permit donation of sick leave upon separation from the City. The LMC must consult with the Office of Civil Rights to ensure compliance with the City’s Race and Social Justice Initiative. Once the LMC has developed its list of proposals, the City and Coalition of City Unions agrees to reopen each contract on this subject.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

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