Late Career Retention Bonus for LPNs. Effective date of ratification, the Employer will provide a retention bonus to eligible L.P.N.s who agree to remain employed for the following twelve (12) months. The retention bonus shall be equal to 2% of the gross annual base earnings (exclusive of any premiums). To be eligible a L.P.N. must be eligible to retire with an unreduced pension under the terms of the Employer’s pension plan. The L.P.N. must apply in writing to participate in the retention bonus program following eligibility. A L.P.N. may apply for and participate in a second and subsequent years.
Appears in 5 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
