Processing Sequence for Simultaneous Transactions. Subject to the University’s obligation to adhere to the mandates of the Maryland Legislature and the Chancellor’s salary guidelines in sequencing pay increases, whenever two or more salary transactions are effective on the same date for an employee they shall be processed in the following sequence: (1) Salary adjustment of the employee’s classification (For example adjusting the employee’s current grade to a higher grade; (2) Cost of Living Adjustment (COLA) and then merit increase in accordance with Article 20 (WAGES); and (3) All other transactions including, but not limited to, promotion, reclassification and demotion.
Appears in 4 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
