Change to a Lower Grade Sample Clauses

Change to a Lower Grade a. Change due to employer-driven reasons: When an employee’s job classification changes to a lower grade due to an employer-driven reason such as reorganization or restructuring of the position, the employee shall be placed in the new grade at the step closest to, but not more than, the employee’s previous step’s amount, and “frozen” at their current pay amount until such time as the pay scale “catches up to” the “frozen” pay rate. The City may conduct a salary study for any position which has had its pay frozen for two years, after which the employee’s pay rate shall be adjusted to the rate reflected in the salary study.
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Change to a Lower Grade 
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Related to Change to a Lower Grade

  • Annual Valuation The Trust shall annually, at least 30 days prior to the anniversary date of establishment of the Fund, furnish to the Grantor and to the Agency a statement confirming the value of the Trust. Any securities in the Fund shall be valued at market value as of no more than 60 days prior to the anniversary date of establishment of the fund. The failure of the Grantor or the Agency to object in writing to the Trustee within 90 days after the statement has been furnished to the Grantor and the Agency shall constitute a conclusively binding assent by the Grantor, barring the Grantor from asserting any claim or liability against the Trustee with respect to matters disclosed in the statement.

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  • RELIEVING IN HIGHER AND LOWER-RATED POSITIONS 23.01 In the event of an employee relieving in a higher-rated job, the employee shall receive the hourly rate of the position they are relieving for any and all hours relieving.

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