Longevity Compensation Policy Clause Samples
Longevity Compensation Policy. The Macomb Intermediate School District Board of Education hereby established a policy of payment of additional compensation to those employees having a record of long continued employment and service with the MISD as recognition of the value of experience gained by such length of service and to encourage same. All employees included in the bargaining unit shall be included in said policy.
A. Basis of longevity compensation is as follows:
1. Eligibility of an employee shall initially commence when such employee shall have completed five (5) full years continuous employment on or before October 31st of any year.
2. Credit shall be given retroactively for continuous employment years of service by MISD employees’ existent as of the effective date of this longevity policy.
3. Continuous employment for the purposes of this policy shall not be considered as interrupted when absences arise as paid vacations, sick leave or leave of absence authorized by the Employer provided such leave of absence periods shall not be considered in the computations of years of service for longevity compensation.
4. Employee longevity shall be paid as per the following schedule provided such employee qualifies as to length of service as per item 1.
5. After having met the initial time requirements to be eligible for longevity pay, either full or half longevity payments will be paid in accordance with the following: To receive a full longevity payment, an employee must have been physically on the job a minimum of ninety (90) days during the eligible longevity period. To receive one-half longevity payment, an employee must have been physically on the job a minimum of forty-five (45) days during the eligible longevity period. Step Continuous years service on or before October 31st of each year Amount
Longevity Compensation Policy. The Macomb Intermediate School District Board of Education hereby establishes a policy of payment of additional compensation to those employees having a record of long continued employment.
A. Basis of longevity compensation is as follows:
1. Eligibility of an employee shall initially commence when such employee shall have completed five (5) full years continuous employment by his/her fifth anniversary date.
2. Continuous employment will not be interrupted except for discharge, resignation or other termination.
3. Unpaid leaves such as Parental Leave, Educational Leave, etc. shall not count towards the five full years.
4. No employee shall be eligible to receive any longevity payment for any eligibility year during which the employee was not physically on the job at least 90 working days.
5. Employee longevity shall be paid as per the following schedule, provided such employee qualifies as to length of service. 1 5 thru 9 $650 $750 2 10 thru 14 $850 $950 3 15 thru 19 $1050 $1200 4 20 thru 24 $1250 $1350 5 25 thru 29 $1450 $1600 6 30 and over $1650 $2000
6. It is understood that in the event of an employee’s death, longevity payment under the Longevity Compensation Policy (Article IV, Section 8) is payable to estate/beneficiary.
B. Longevity compensation shall be a separate and distinct annual payment to those eligible employees but shall be considered a part of the regular compensation and as such, subject to withholding tax, social security, retirement deductions and all other deductions required by federal and state law and the regulations and ordinances of the County of Macomb.
C. Payments to employees eligible on April 30th of any year shall be paid no later than June 10th following. The annual period covered in computation of longevity shall be from May 1st of each year through and including April 30th of the following year.
D. Payments to employees eligible on October 31st of any year shall be paid no later than December 10th following. The annual period covered in computation of longevity shall be from November 1st of each year through and including October 31st of the following year.
E. This section shall apply only to bargaining unit members who terminate employment by retirement directly into the Michigan Public School Employees Retirement System (MPSERS). In such cases, and only in such cases, eligibility for the final longevity payment will be prorated based on the first full month after the anniversary date through the last full month worked. ...
Longevity Compensation Policy. A. Employee must be physically on the job to receive longevity; however it is not necessary for the employee to be continuously working in order to be eligible for anniversary credit. Employees will be paid according to the schedule in the appendix.
B. The employee will receive longevity payment in full if his/her anniversary (hire) date falls between July 1st through September 30th and if the employee notifies the Human Resources Department of his/her intent to retire onto the Michigan Public School Employees Retirement System by May 1st. In all other cases, if the employee terminates employment with the District prior to his/her anniversary date, longevity payment will be prorated.
Longevity Compensation Policy. The Macomb Intermediate School District Board of Education hereby establishes a policy of payment of additional compensation to those employees having a record of long continued employment and service with the MISD as recognition of the value of experience gained by such length of service and to encourage same. All employees included in this bargaining unit shall be included in said policy.
Longevity Compensation Policy. The Macomb Intermediate School District Board of Education hereby establishes a policy of payment of additional compensation to those employees having a record of long continued employment and service with the MISD as recognition of the value of experience gained by such length of service and to encourage same. All employees included in this bargaining unit shall be included in said policy.
A. Employee longevity shall be paid as per the following schedule, provided such employee qualifies as to length of service as per item 1:
1. Employees hired after 7/1/11 will not be eligible for Longevity Compensation.
2. Eligibility of an employee shall initially commence when such employee shall have completed five (5) full years continuous employment on or before October 31st of any year.