Common use of Payment Guidelines Clause in Contracts

Payment Guidelines. All SIP cash payments will be made following the employee’s retirement date from City service. If an employee is approved to take advantage of the SIP, he/she will receive two cash payments. The first SIP payment will be in the gross amount of ten thousand dollars ($10,000). This payment shall be made no later than eight weeks after an employee’s actual retirement date from City service. The second SIP payment will be in the gross amount of the remainder of the total amount of cash to which the SIP participant is entitled pursuant to the calculated total as discussed in item 1 (Separation Incentive Program Description) of this Letter of Agreement. For example, if an employee is entitled to an $80,000 SIP payment, the second SIP payment would be in the gross amount of $70,000 ($80,000 minus $10,000). This second SIP payment will be paid to the employee twelve months after the employee’s retirement date. 06/19/2020 Separation Incentive Plan LOA (SEIU) Payments shall be in compliance with all required tax withholdings calculated by the Controller’s Office. The CAO does not have any role in calculating or determining tax requirements of the lump-sum SIP payments. Employees who participate in the SIP are solely liable for all tax consequences. A tax consultant should be consulted if an employee has related questions.

Payment Guidelines. All SIP cash payments will be made following the employee’s 's retirement date from City service. If an employee is approved to take advantage of the SIP, he/she will receive two cash payments. The first SIP payment will be in the gross amount of ten thousand dollars ($10,000). This payment shall be made no later than eight weeks after an employee’s actual retirement date from City service. The second SIP payment will be in the gross amount of the remainder of the total amount of cash to which the SIP participant is entitled pursuant to the calculated total as discussed in item 1 (Separation Incentive Program Description) of this Letter of Agreement. For example, if an employee is entitled to an $80,000 SIP payment, the second SIP payment would be in the gross amount of $70,000 ($80,000 minus $10,000). This second SIP payment will be paid to the employee twelve months after the employee’s retirement date. 06/19/2020 Separation Incentive Plan LOA (SEIUOperating Engineers) Payments shall be in compliance with all required tax withholdings calculated by the Controller’s Office. The CAO does not have any role in calculating or determining tax requirements of the lump-sum SIP payments. Employees who participate in the SIP are solely liable for all tax consequences. A tax consultant should be consulted if an employee has related questions.

Payment Guidelines. All SIP cash payments will be made following the employee’s retirement date from City service. If an employee is approved to take advantage of the SIP, he/she will receive two cash payments. The first SIP payment will be in the gross amount of ten thousand dollars ($10,000). This payment shall be made no later than eight weeks after an employee’s actual retirement date from City service. The second SIP payment will be in the gross amount of the remainder of the total amount of cash to which the SIP participant is entitled pursuant to the calculated total as discussed in item 1 (Separation Incentive Program Description) of this Letter of Agreement. For example, if an employee is entitled to an $80,000 SIP payment, the second SIP payment would be in the gross amount of $70,000 ($80,000 minus $10,000). This second SIP payment will be paid to the employee twelve months after the employee’s retirement date. 06/19/2020 Separation Incentive Plan LOA (SEIUFPPA) Payments shall be in compliance with all required tax withholdings calculated by the Controller’s Office. The CAO does not have any role in calculating or determining tax requirements of the lump-sum SIP payments. Employees who participate in the SIP are solely liable for all tax consequences. A tax consultant should be consulted if an employee has related questions.

Payment Guidelines. All SIP cash payments will be made following the employee’s 's retirement date from City service. If an employee is approved to take advantage of the SIP, he/she will receive two cash payments. The first SIP payment will be in the gross amount of ten thousand dollars ($10,000). This payment shall be made no later than eight weeks after an employee’s actual retirement date from City service. The second SIP payment will be in the gross amount of the remainder of the total amount of cash to which the SIP participant is entitled pursuant to the calculated total as discussed in item 1 (Separation Incentive incentive Program Description) of this Letter of Agreement. For example, if an employee is entitled to an $80,000 SIP payment, the second SIP payment would be in the gross amount of $70,000 ($80,000 minus $10,000). This second SIP payment will be paid to the employee twelve months after the employee’s 's retirement date. 06/19/2020 Separation Incentive Plan LOA (SEIUBuilding Trades) Payments shall be in compliance with all required tax withholdings calculated by the Controller’s 's Office. The CAO does not have any role in calculating or determining tax requirements of the lump-sum SIP payments. Employees who participate in the SIP are solely liable for all tax consequences. A tax consultant should be consulted if an employee has related questions.

Payment Guidelines. All SIP cash payments will be made following the employee’s retirement date from City service. If an employee is approved to take advantage of the SIP, he/she will receive two cash payments. The first SIP payment will be in the gross amount of ten thousand dollars ($10,000). This payment shall be made no later than eight weeks after an employee’s actual retirement date from City service. The second SIP payment will be in the gross amount of the remainder of the total amount of cash to which the SIP participant is entitled pursuant to the calculated total as discussed in item 1 (Separation Incentive Program Description) of this Letter of Agreement. For example, if an employee is entitled to an $80,000 SIP payment, the second SIP payment would be in the gross amount of $70,000 ($80,000 minus $10,000). This second SIP payment will be paid to the employee twelve months after the employee’s 's retirement date. 06/19/2020 Separation Incentive Plan LOA (SEIUManagement Attorneys) Payments shall be in compliance with all required tax withholdings calculated by the Controller’s 's Office. The CAO does not have any role in calculating or determining tax requirements of the lump-sum SIP payments. Employees who participate in the SIP are solely liable for all tax consequences. A tax consultant should be consulted if an employee has related questions.

Payment Guidelines. All SIP cash payments will be made following the employee’s retirement date from City service. If an employee is approved to take advantage of the SIP, he/she will receive two cash payments. The first SIP payment will be in the gross amount of ten thousand dollars ($10,000). This payment shall be made no later than eight weeks after an employee’s actual retirement date from City service. The second SIP payment will be in the gross amount of the remainder of the total amount of cash to which the SIP participant is entitled pursuant to the calculated total as discussed in item 1 (Separation Incentive Program Description) of this Letter of Agreement. For example, if an employee is entitled to an $80,000 SIP payment, the second SIP payment would be in the gross amount of $70,000 ($80,000 minus $10,000). This second SIP payment will be paid to the employee twelve months after the employee’s retirement date. 06/19/2020 Separation Incentive Plan LOA (SEIULIUNA) Payments shall be in compliance with all required tax withholdings calculated by the Controller’s Office. The CAO does not have any role in calculating or determining tax requirements of the lump-sum SIP payments. Employees who participate in the SIP are solely liable for all tax consequences. A tax consultant should be consulted if an employee has related questions.