Common use of Incentive Pool Clause in Contracts

Incentive Pool. There shall be an incentive for all bargaining unit members in each year of this agreement, as follows: A group incentive pool and should not be confused with individual merit. Recognizing the need for the entire district to perform better, this 1% pool will be for all bargaining unit members and paid as either a lump sum or in tax-sheltered annuity. The 1% will be divided into eight (8) categories based on the district targets for improvement. Each target will be weighted at .125%. If the district hits all targets the sum will be 1% of the individual’s salary (for example: A teacher making $55,000 would receive $550). If the district hits a percentage of the targets the bonus will be prorated (for example, Seven targets achieved means 7/8 or .875%). This incentive pool will reset on an annual basis, based upon the targets achieved by the district in that year. In any year that bonuses are awarded, each individual bargaining unit member shall elect to receive his or her bonus as a lump sum or a payment to a tax-sheltered annuity. Payment shall be made no later than September 1 of the following school year in which the district target(s) was reached. Any teacher who leaves the District due to resignation or retirement at the end of the school year when the district target(s) was reached remains eligible to receive this payment. (See Appendix D)

Incentive Pool. There shall be an incentive for all bargaining unit members in each year of this agreement, as follows: A group incentive pool and should not be confused with individual merit. Recognizing the need for the entire district to perform better, this 1% pool will be for all bargaining unit members and paid as either a lump sum sun or in a tax-sheltered annuity. The 1% will be divided into eight (8) categories based on the district targets for improvement. Each target will be weighted at .125%. If the district hits has hit all targets the sum will be 1% of the individual’s salary (for example: A teacher nurse making $55,000 would receive $550). If the district hits a percentage of the targets targets, the bonus will be prorated (for example, Seven : seven (7) targets achieved means 7/8 or .875%). This incentive pool will reset on an annual basis, based upon the targets achieved by the district in that year. In any year that bonuses are awarded, each individual bargaining unit member shall elect to receive his or his/her bonus as a lump sum or a payment to a tax-sheltered annuity. Payment shall be made no later than September 1 of the following school year in which the district target(s) was reached. Any teacher nurse who leaves the District due to resignation or retirement at the end of the school year when the district target(s) was reached remains eligible to receive this payment. (See Appendix D).