Crediting of Guaranteed Annual Income Credit Units. (a) An Employee who is on the Active Employment Rolls in the Bargaining Unit and if hired prior to September 24, 2012 has at least three (3) years of Seniority, if hired on or after September 24, 2012 has at least five (5) years of Seniority, on a Guarantee Date (as defined in section 3.07 of this article) shall be credited as of the day following such Guarantee Date with the number of Guaranteed Annual Income Credit Units (as defined in section 3.08 of this article), if any, determined by (i) and (ii) below:
(i) For Employees hired prior to January 1, 2010: subtracting from fifty-two (52) [one hundred and four (104) in the case of an Employee who has ten (10) or more years of Seniority] or in the case of an Employee who is at work on or after November 17, 2002: fifty-six (56) if the Employee has seven (7) but less than eight (8) Years of Seniority; sixty (60) if the Employee has eight (8) but less than nine (9) Years of Seniority; and sixty-four (64) if the Employee has nine (9) but less than ten (10) Years of Seniority the number of credit units to his/her credit on the Guarantee Date; For Employees hired on or after January 1, 2010, but before September 24, 2012: subtracting from fifty-two (52) [one hundred and four (104) in the case of an Employee who has twenty (20) or more years of Seniority; seventy-eight (78) in the case of an Employee who has ten (10) but less than twenty (20) years of Seniority] the number of credit units to his/her credit on the Guarantee Date; For Employees hired on or after September 24, 2012: subtracting from twenty-six (26) [one hundred and four (104) in the case of an Employee who has twenty (20) or more years of Seniority; seventy-eight
Crediting of Guaranteed Annual Income Credit Units. (a) An Employee who is on the Active Employment Rolls in the Bargaining Unit and has at least one year of Seniority on a Guarantee Date (as defined in section 3.07 of this article) shall be credited as of the day following such Guarantee Date with the number of Guaranteed Annual Income Credit Units (as defined in section 3.08 of this article), if any, determined by:
(i) subtracting from fifty-two (52) [one hundred and four (104) in the case of an Employee who has ten (10) or more years of Seniority] or in the case of an Employee who is at work on or after November 17, 2002: fifty-six (56) if the Employee has seven (7) but less than eight (8) Years of Seniority; sixty (60) if the Employee has eight (8) but less than nine (9) Years of Seniority; and sixty- four (64) if the Employee has nine (9) but less than ten (10) Years of Seniority the number of credit units to his/her credit on the Guarantee Date; and
(ii) multiplying the resulting number by the applicable percentage set forth in the following table: Years of Seniority on Applicable the Guarantee Date Percentage 1 but less than 1.5 12.5%
Crediting of Guaranteed Annual Income Credit Units. (a) An Employee who is on the Active Employment Roll, is in the Bargaining Unit, and has at least one Year of Seniority (three Years of Seniority if hired on or after September 17, 2008 and prior to October 1, 2012; six Years of Seniority if hired on or after October 1, 2012) on a Guarantee Date shall be credited as of the Guarantee Date with the number of Guaranteed Annual Income Credit Units, if any, determined by:
(1) subtracting from the sub credits in the following schedule the number of Credit Units to the Employee’s credit on the Guarantee Date; and Hired on or After June 8, 2009 and Prior to October 1, 2012 Hired Prior to June 8, 2009
(2) multiplying the resulting number by the applicable percentage set forth in the following table (rounding the product thereof to the nearest hundredth): Years of Seniority on the Guarantee Date Applicable Percentage Years of Seniority on the Guarantee Date Applicable Percentage For Employees Hired On or After October 1, 2012 Years of Seniority on the Guarantee Date Applicable Percentage
(b) If Guaranteed Annual Income Credit Units were not credited to an Employee on a Guarantee Date solely because the Employee did not then have at least one Year of Seniority (three Years of Seniority if hired on or after September 17, 2008 and prior to October 1, 2012; six Years of Seniority if hired on or after October 1, 2012) was not then on the Active Employment Roll, or was not then in the Bargaining Unit, but on any day within the 52 Pay Periods following such Guarantee Date such Employee has at least one Year of Seniority (three Years of Seniority if hired on or after September 17, 2008 and prior to October 1, 2012; six Years of Seniority if hired on or after October 1, 2012) is then on the Active Employment Roll, and is then in the Bargaining Unit, the Employee shall be entitled to be credited with Guaranteed Annual Income Credit Units as of the day following the end of the first Pay Period in which the Employee meets such requirements.
(1) subtracting from the sub credits in the following schedule the number of Pay Periods between the preceding Guarantee Date and the last day of such Pay Period; and Hired on or After June 8, 2009 and Prior to October 1, 2012 Hired Prior to June 8, 2009
(2) subtracting from the resulting number the number of Credit Units to the Employee's credit on such last day; and
(3) multiplying that resulting number by the percentage in the Table in subsection (a)(2) of this Section, applicable to the ...
