Date Increment Due Increments shall accrue and become due and payable on the next day following completion of required service as an employee in the class, unless otherwise provided herein.
Increment Date (a) Full-time Employees shall be eligible for increments annually from their date of employment.
Increment Date for Salary Grid Placement Upon achieving one (1) year of experience, an increment shall be awarded on the first of the month following the month in which the experience accumulation is earned.
ANNUAL INCREMENT (1) Staff shall be entitled to an annual increment which shall be negotiated with the Union annually.
Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:
Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range:
Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will:
Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:
FUNDING INCREASE 1. The Commonwealth shall notify the Grantee in writing of any funding increases under this Agreement.
Step Increase Employees shall move to the next step of the salary schedule, only when agreed to specifically by parties in contract negotiations. If a step increase is provided, it shall be granted to those employees who receive an overall performance evaluation rating of “Effective” or higher. An employee who receives an overall performance evaluation of less than “Effective” shall not be eligible for the Board approved step increase; however, if the affected employee receives an overall performance evaluation of “Effective” or higher for the succeeding year he/she shall be granted the withheld step but not on a retroactive basis.