Common use of LONGEVITY BENEFITS Clause in Contracts

LONGEVITY BENEFITS. Section 1. All members who have been employed with the City on a regular, continuous basis in a budgeted position for a minimum of five years or have completed their fifth year of employment by the end of the calendar year and who are employed on December 1 are eligible to receive the 1% Longevity Pay Bonus. The 1% Longevity Pay Bonus is a one-time payment each year at the rate of 1% of December 1 annual base salary. Any member not in pay status on December 1 will receive the benefit upon returning to pay status.

LONGEVITY BENEFITS. Section 1. : All members who have been employed with the City on a regular, continuous basis in a budgeted position for a minimum of five years or have completed their fifth year of employment by the end of the calendar year and who are employed on December 1 are eligible to receive the 1% Longevity Pay Bonus. The 1% Longevity Pay Bonus is a one-time payment each year at the rate of 1% of December 1 annual base salary. Any member not in pay status on December 1 will receive the benefit upon returning to pay status.