Common use of Modified Benefit Option Wage Differential Clause in Contracts

Modified Benefit Option Wage Differential. ‌ Employees who select the MBO shall receive a differential of $2.00/hour above the base rate of pay. The differential shall be paid on all paid hours (e.g., REG, PTO, etc.). The differential shall be considered as part of the base hourly rate when calculating the following: the County contribution to the employee’s Retirement Medical Trust (RMT) account, sick leave cash-outs (if any) pursuant to the RMT Article, and leave cash-outs. Provided below is an example of how the County’s contribution to the RMT would be calculated: EX: A nurse with 11 years of continuous County service and an 80-hour per pay period schedule selects the MBO. The employee’s base hourly rate is $40 per hour. This employee is eligible for a County contribution to the RMT equal to 1.00% of the employee base bi-weekly salary. The County contribution to the RMT is calculated as follows: • 80 hours X ($40.00 per hour + $2 MBO Differential) = $3,360 base bi-weekly salary for purposes of County contribution to the RMT • $3,360 X 1.00% Contribution Rate = $33.60 • The County will contribute $33.60 to the RMT on behalf of the employee that pay period.

Modified Benefit Option Wage Differential. ‌ Employees who select the MBO shall receive a differential of $2.00/hour above the base rate of pay. The differential shall be paid on all paid hours (e.g., REG, PTO, etc.). The differential shall be considered as part of the base hourly rate when calculating the following: the County contribution to the employee’s Retirement Medical Trust (RMT) account, sick leave cash-outs (if any) pursuant to the RMT Article, and leave cash-outs. Provided below is an example of how the County’s contribution to the RMT would be calculated: : EX: A nurse with 11 years of continuous County service and an 80-hour per pay period schedule selects the MBO. The employee’s base hourly rate is $40 per hour. This employee is eligible for a County contribution to the RMT equal to 1.00% of the employee base bi-weekly salary. The County contribution to the RMT is calculated as follows: • 80 hours X ($40.00 per hour + $2 MBO Differential) = $3,360 base bi-weekly salary for purposes of County contribution to the RMT • $3,360 X 1.00% Contribution Rate = $33.60 • The County will contribute $33.60 to the RMT on behalf of the employee that pay period.