Retention Pay. Section 1. When an employee has completed five (5) years of continuous service in the County as of December 1 of the current year, he/she shall be eligible to receive two and one-half (2 1/2) percent of his/her annual salary for the current calendar year based on his/her current base rate of pay. For each additional year of continuous service after five, the employee shall qualify for an additional one-half (1/2) of one (1) percent up to and including his/her tenth year. For all continuous service after ten (10) years, the stability payment shall continue at the rate established for the tenth year of five (5) percent. At the discretion of the EMPLOYER, time on authorized leave of absence for education may be included in computing stability compensation.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
Retention Pay. Section 1. When an employee has completed five (5) years of continuous service in the County as of December 1 of the current year, he/she they shall be eligible to receive two and one-half (2 1/2) percent of his/her their annual salary for the current calendar year based on his/her their current base rate of pay. For each additional year of continuous service after five, the employee shall qualify for an additional one-half (1/2) of one (1) percent up to and including his/her their tenth year. For all continuous service after ten (10) years, the stability payment shall continue at the rate established for the tenth year of five (5) percent. At the discretion of the EMPLOYER, time on authorized leave of absence for education may be included in computing stability compensation.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
Retention Pay. β
Section 1. When an employee has completed five (5) years of continuous service in the County as of December 1 of the current year, he/she shall be eligible to receive two and one-half (2 1/2) percent of his/her annual salary for the current calendar year based on his/her current base rate of pay. For each additional year of continuous service after five, the employee shall qualify for an additional one-half (1/2) of one (1) percent up to and including his/her tenth year. For all continuous service after ten (10) years, the stability payment shall continue at the rate established for the tenth year of five (5) percent. At the discretion of the EMPLOYER, time on authorized leave of absence for education may be included in computing stability compensation.
Appears in 1 contract
Samples: Collective Bargaining Agreement