Common use of Opting-Out of Compensation Credits Clause in Contracts

Opting-Out of Compensation Credits. Starting with the fiscal year 2014 employees hired before January 1, 2014, may make a one-time, permanent election to opt-out of compensation credits provided in section 8 of this article, in return for the higher salary provided in section 9 of this article. Once enrolled in this program, an employee may not return to receiving compensation credits and pay at the lower salary schedule. Employees may exercise the opt-out by giving notice by May 31 each year to be effective the first full pay period after July 1 of the same year.

Opting-Out of Compensation Credits. Starting with the fiscal year 2014 employees hired before January 1, 2014, may make a one-time, permanent election to opt-out of compensation credits provided in section Section 8 of this article, in return for the higher salary provided in section Section 9 of this article. Once enrolled in this program, an employee may not return to receiving compensation credits and pay at the lower salary schedule. Employees may exercise the opt-out by giving notice by May 31 each year to be effective the first full pay period after July 1 of the same year.