Pay Rates and Cost of Living Adjustments Clause Samples
The 'Pay Rates and Cost of Living Adjustments' clause establishes how employee compensation will be determined and periodically updated to reflect changes in the cost of living. Typically, this clause outlines the base pay rates for specific roles and describes the mechanism for adjusting these rates, such as annual reviews tied to inflation indices or government-published cost of living data. Its core function is to ensure that employee wages remain fair and competitive over time, protecting both parties from the effects of inflation and maintaining workforce satisfaction.
Pay Rates and Cost of Living Adjustments. (a) The minimum salary will be the Salary Reference Table minimum values as established by the Company, for each Salaried Job Classification identified in Appendix B.
Pay Rates and Cost of Living Adjustments. The minimum salary will be the Salary Reference Table minimum values as established
Pay Rates and Cost of Living Adjustments. (a) The minimum salary will be the Salary Reference Table minimum values as established by the Company for each Salaried Job Classification identified in Appendix B.
11.1 (b) The Company will establish seven salary review adjustment funds in accordance with the dates set forth in Table 1: TABLE 1 Review Period Fund Computation Date Increase Effective Date Salary Adjustment Fund Percentage Lump Sum Percentage
Pay Rates and Cost of Living Adjustments. (a) The minimum salary will be the Salary Reference Table minimum values as established by the Company, for each Salaried Job Classification identified in Appendix B.
(b) The Company will establish four salary review adjustment funds in accordance with the dates set forth in Table I: TABLE I 1 1/30/09 2/27/09 5.0% 2.0% 2 1/29/10 2/26/10 5.0% 2.0% 3 1/28/11 2/25/11 5.0% 2.0% 4 1/27/12 2/24/12 5.0% 2.0% 11.1(b)(1) Base salaries of eligible employees will be increased from a fund computed by multiplying the Salary Adjustment Fund by the total salaries of eligible employees. All eligible employees will participate in the salary review with minimum increases given as indicated in Table I. All increases will be effective on the Increase Effective Date of the review period. Eligible employees are defined as follows: • Hired before November 1st of each year, and • Classified in the bargaining unit on both the Fund Computation Date and the Increase Effective Date. Employees on leave of absence for less than 180 days as of the Fund Computation Date are included in the Salary Review exercise. For salary review adjustment fund computation purposes described in Section 11.1(b), the units defined in Section 1.1 will be treated as a single unit. For any Review Period identified in Table I, the Company may, at its discretion, increase the Salary Adjustment Fund, resulting in an equal decrease to the Salary Adjustment Fund of a subsequent Review Period.
Pay Rates and Cost of Living Adjustments. (a) The minimum salary will be the Salary Reference Table minimum values as established by the Company, for each Salaried Job Classification identified in Appendix B. 11.1(b)(1) Except as outlined in Article 11.1(b)(2), for the salary increase scheduled for March 4, 2016, the Company will apply the Salary Adjustment Fund and Minimum Increase Percentage and computation methodology referenced in the Parties’ October 7, 2012 collective bargaining agreement. The specific rates are referred to in Table 1 below. TABLE 1 Review Period Fund Computation Date Increase Effective Date Salary Adjustment Fund Percentage Minimum increase percentage
Pay Rates and Cost of Living Adjustments. 8
(a) The minimum salary will be the Salary Reference Table minimum values as established by the 10
(b) The Company will establish four salary review adjustment funds in accordance with the dates 13 TABLE I 16 SALARY REVIEW ADJUSTMENT FUND PERIODS 17
11.1 (b)(1) Base salaries of eligible employees will be increased from a fund computed by 29 multiplying the Salary Adjustment Fund by the total salaries of eligible employees. All eligible 30 employees will participate in the salary review with minimum increases given as indicated in Table 31
I. All increases will be effective on the Increase Effective Date of the review period. Eligible 32 employees are defined as follows: 33 • Hired before November 1st of each year, and 35 36 • Classified in the bargaining unit on both the Fund Computation Date and the Increase 37 Effective Date. 38 39 Employees on leave of absence for less than 180 days as of the Fund Computation Date are 40 included in the Salary Review exercise. 41 42 For salary review adjustment fund computation purposes described in Section 11.1(b), the units 43 defined in Section 1.1 will be treated as a single unit. 44 45 For any Review Period identified in Table I, the Company may, at its discretion, increase the 46 Salary Adjustment Fund, resulting in an equal decrease to the Salary Adjustment Fund of 47 a subsequent Review Period. 48 49