Common use of Retention Pay Clause in Contracts

Retention Pay. ‌ Section 1. Consistent with the HR Rules, regular and unclassified benefit-earning employees with at least five years of continuous employment* as of December 1 of the current year are eligible to receive retention pay in December. 5 $ 400 6 $ 480 7 $ 560 8 $ 640 9 $ 720 10 $ 800 11 $ 850 12 $ 900 13 $ 950 14 $1000 15 $1050 16 $1100 17 $1150 18 and over $1200 *Based on hire date as a regular or unclassified employee (or on hours of eligible service converted to a date in APEX if hired before October 11, 2009). Federal and state taxes, FICA, Medicare and PERA are withheld from retention (stability) pay. At the discretion of the EMPLOYER, time on authorized LEAVE OF ABSENCE for education may be included in computing retention compensation. Such retention payment shall be paid in a lump sum on a December payroll. Section 2. Any employee who by reason of a work related injury receives worker’s compensation benefits, shall receive credit for time spent on such medical leave for purposes of retention pay eligibility. Section 3. Any employee upon retiring from County service may be paid the retention payment as of the date of his/her retirement. Section 4. Retention pay may also be paid to survivors in the case of death while the individual is an employee of the County. Such payment shall be prorated on the number of payroll periods worked during the calendar year in which death occurred.

Retention Pay. ‌ Section 1. Consistent with the HR Rules, regular and unclassified benefit-earning employees with at least five years of continuous employment* as of December 1 of the current year are eligible to receive retention pay in December. 5 $ 400 6 $ 480 7 $ 560 8 $ 640 9 $ 720 10 $ 800 11 $ 850 12 $ 900 13 $ 950 14 $1000 15 $1050 16 $1100 17 $1150 18 and over $1200 *Based on hire date as a regular or unclassified employee (or on hours of eligible service converted to a date in APEX if hired before October 11, 2009). Federal and state taxes, FICA, Medicare and PERA are withheld from retention (stability) pay. At the discretion of the EMPLOYER, time on authorized LEAVE OF ABSENCE for education may be included in computing retention compensation. Such retention payment shall be paid in a lump sum on a December payroll. Section 2. Any employee who by reason of a work related injury receives worker’s compensation benefits, shall receive credit for time spent on such medical leave for purposes of retention pay eligibility. Section 3. Any employee upon retiring from County service may be paid the retention payment as of the date of his/her retirement. Section 4. Retention pay may also be paid to survivors in the case of death while the individual is an employee of the County. Such payment shall be prorated on the number of payroll periods worked during the calendar year in which death occurred.