Common use of FY2017 Merit Pay Adjustments Clause in Contracts

FY2017 Merit Pay Adjustments. Merit Pay Adjustment: Effective July 1, 2016, a Merit Pay Adjustment of 2.5% shall be added to the base pay of each employee who has achieved “meets standards” or better on his/her last performance rating. If the merit adjustment would cause an employee’s pay rate to exceed the maximum pay rate for the employee’s pay grade range, the employee’s pay rate will be adjusted to the maximum of the pay range and the remainder of the merit adjustment shall be provided in the form of a one-time, lump sum payment which shall not be included in the employee’s base pay.

FY2017 Merit Pay Adjustments. Merit Pay Adjustment: Effective July 1, 2016, a Merit Pay Adjustment of 2.5% shall be added to the base pay of each employee who has achieved “meets standardseffective” or better on his/her last performance rating. If the merit adjustment would cause an employee’s pay rate to exceed the maximum pay rate for the employee’s pay grade range, the employee’s pay rate will be adjusted to the maximum of the pay range and the remainder of the merit adjustment shall be provided in the form of a one-time, lump sum payment which shall not be included in the employee’s base pay. The lump sum shall be paid as soon as practical following July 1, 2016.

FY2017 Merit Pay Adjustments. Merit Pay Adjustment: Effective July 1, 2016, a Merit Pay Adjustment of 2.5% shall be added to the base pay of each employee who has achieved “meets standards” or better on his/her last performance rating. If the merit adjustment would cause an employee’s pay rate to exceed the maximum pay rate for the employee’s pay grade range, the employee’s pay rate will be adjusted to the maximum of the pay range and the remainder of the merit adjustment shall be provided in the form of a one-time, lump sum payment which shall not be included in the employee’s base pay. The lump sum shall be paid as soon as practical following July 1, 2016.