Longevity Pay Premium Sample Clauses
The Longevity Pay Premium clause establishes 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 premium pay awarded at certain service milestones. Its core practical function is to reward employee loyalty and incentivize long-term retention by providing financial recognition for continued service.
Longevity Pay Premium. An employee who has completed five (5) years of continuous service at the maximum salary step in his/her classification shall be paid a premium of twenty- four dollars ($24.00) per pay period. An employee who voluntarily moves to another classification shall not be eligible for longevity pay until he/she has served five (5) years of continuous service at the maximum salary step in the new classification.
Longevity Pay Premium. The longevity pay premium shall be added based on the driver’s date of initial employment with MTA.
Longevity Pay Premium. Commencing with the pay period that includes July 1, 2024, the City will establish a Longevity Pay Premium for all represented classifications. All sworn employees that have at least five (5) years of sworn work experience under Penal Code section 830.1 shall receive an additional five percent (5%) of base pay and all miscellaneous employees that have at least five (5) years of work experience in their current job classification series (i.e., Communications Officer/Dispatch professionals or Community Service Officers) shall receive an additional five (5%) of base pay. This premium will be paid for all hours in paid status similar to other Special Assignment Pay premiums. Years of prior works experience in the job classifications series from other public agencies shall be included in the calculation of five (5) years of work experience.
Longevity Pay Premium. Employees who have been with the Catholic Charities for more then ten (10) years of service and who are no longer eligible for step increases shall receive a one-time additional $1.00 an hour.
Longevity Pay Premium. Employees will receive a longevity pay premium after ten (10) years of service of ninety cents ($0.90) per hour.
Longevity Pay Premium