LONGEVITY LOYALTY RETENTION STIPEND Sample Clauses

LONGEVITY LOYALTY RETENTION STIPEND. In recognition of their commitment to the students, parents and patrons of the Grandview School District, employees who have completed sixteen (16) to twenty (20) years of continuous certificated service with the District shall receive a longevity loyalty retention stipend of five hundred dollars ($500.00) at the completion of the year as a lump sum payment in their June paycheck. Employees shall receive this stipend each year thereafter that they are employed by the District. Employees who are employed by the District for twenty-one (21) to twenty-five (25) years of continuous certificated service with the District shall receive a longevity loyalty retention stipend of seven hundred fifty dollars ($750.00) at the completion of the year as a lump sum payment in their June paycheck. Employees who are employed by the District for twenty-six (26) or more years of continuous certificated service with the District shall receive a longevity loyalty retention stipend of one thousand dollars ($1000.00) at the completion of the year as a lump sum payment in their June paycheck. Employees shall receive this stipend each year thereafter that they are employed by the District. In regard to “continuous service”, if an employee works more than ninety (90) days in a school year, it shall be counted as one (1) year; in the case of approved unpaid leaves of absence of greater than ninety (90) days, the year would not count toward a year of service, but employment status remains as continuous when the employee returns to work. In the event that the limitation of this benefit on the basis of in-District years of experience is declared invalid by a court of law, the District’s obligation to continue to provide the stipend will be immediately suspended.
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Related to LONGEVITY LOYALTY RETENTION STIPEND

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