Common use of Retention Pay Clause in Contracts

Retention Pay. 117. Employees who have completed twenty-three (23) years or more of service as a sworn member of the Department or Airport Bureau shall receive 2% retention pay. Retention pay shall be included for purposes of retirement benefit calculations and contributions. Further, it is the parties’ understanding that this benefit is part of the salary attached to all ranks for employees who have completed twenty-three (23) years or more of sworn service covered by this Agreement.

Retention Pay. 117248. Employees who have completed twenty-three (23) years or more of service as a sworn member of the Department or Airport Bureau shall receive 2% retention pay. Retention pay shall be included for purposes of retirement benefit calculations and contributions. Further, it is the parties’ understanding that this benefit is part of the salary attached to all ranks for employees who have completed twenty-three (23) years or more of sworn service covered by this Agreement.

Retention Pay. 117125. Employees who have completed twenty-three (23) years or more of service as a sworn member of the Department or Airport Bureau shall receive 2% retention pay. Retention pay shall be included for purposes of retirement benefit calculations and contributions. Further, it is the parties’ understanding that this benefit is part of the salary attached to all ranks for employees who have completed twenty-three (23) years or more of sworn service covered by this Agreement.

Retention Pay. 117182. Employees who have completed twenty-three five (2325) years or more of service as a sworn member of the Department or Airport Bureau shall receive 2% retention pay. Retention pay shall be included for purposes of retirement benefit calculations and contributions. Further, it is the parties’ understanding that this benefit is part of the salary attached to all ranks for employees who have completed twenty-three five (2325) years or more of sworn service covered by this Agreement. 183. Effective July 1, 2004, the qualifying years of service under this provision shall be lowered to twenty-three (23) years or more of service as a sworn member of the Department or Airport Bureau.

Retention Pay. 117. Employees who have completed twenty-three (23) years or more of service as a sworn member of the Department or Airport Bureau shall receive 2% retention pay. Retention pay shall be included for purposes of retirement benefit calculations and contributions. Further, it is the parties’ understanding that this benefit is part of the salary attached to all ranks for employees who have completed twenty-three (23) years or more of sworn service covered by this Agreement.