Common use of Longevity Premium Pay Clause in Contracts

Longevity Premium Pay. Unit employees, who accrue ten (10) consecutive years of service, shall receive a premium pay of three percent (3%) of their base wage. Unit employees, who accrue fifteen (15) consecutive years of service, shall receive a premium pay totaling six percent (6%) of their base wage. Unit employees, who accrue twenty (20) consecutive years of service, shall receive a premium pay totaling nine percent (9%) of their base wage. Consecutive service years include service time worked as a Per Diem, temporary, part-time, or full-time employee as long as there was no break in service greater than four (4) pay periods. Time while on protected leave(s) is considered for service credit. Per Diem, temporary, and part-time service time will not be pro-rated based on hours. The Longevity premium pay will be reported in accordance with PERS regulations section 571A. Eligible employees are required to complete and submit the required form to their respective Human Resources Department at least two (2) weeks prior to the employee’s eligible date to ensure that the premium pay is processed in a timely manner. Retroactive payments will not be processed for those forms submitted late.