Longevity Pay Plan Clause Samples
The Longevity Pay Plan clause establishes a system of additional compensation for employees based on their length of service with an organization. Typically, this clause outlines eligibility criteria, such as a minimum number of years worked, and specifies the amount or percentage of extra pay awarded at certain service milestones. By rewarding long-term employees, the clause incentivizes retention and recognizes loyalty, helping to reduce turnover and maintain institutional knowledge within the organization.
Longevity Pay Plan. Employees who have completed ten (10) years of service for the County shall receive a 2.5% longevity differential. For purposes of determining ten (10) years of service for this differential, the records utilized for service award purposes will control.
Longevity Pay Plan. Longevity pay will be two (2) percent of base salary beginning with the ninth year of service in the district; three (3) percent of base pay beginning with the sixteenth year of service in the district; four (4) percent of base pay beginning with the twenty-first year of service in the district; and five (5) percent of base salary beginning with twenty-sixth year of service with the district. The salary adjustment will be made on July 1 or January 1 and shall be retroactive to the anniversary date of the employee where the service requirement has been satisfied during the previous six-month period.
Longevity Pay Plan