Salary Increase Due to Elimination of Pension Fund Sample Clauses

Salary Increase Due to Elimination of Pension Fund. The Xxxxx School District pension fund levy for the 2015-16 school year was $496,000. That levy has been eliminated and is now part of the general fund. The district will use 60% of the pension fund levy minus benefits (15%) for salary increase for the 2017-18 school year. $496,000 times 60% equals $297,600. $297,000 times 15% district benefits equals $44,640. $297,000 minus $44,640 equals $252,360 for salary increase for the 2017-18. The $252,360 will be used for salary increase for all teachers covered in the MEA negotiated agreement. The number of teachers in the district will be based on the fall personnel record form. For teachers with no previous teaching experience, the salary will be base pay plus the appropriate cumulative differential for the number of graduate semester hours successfully completed. A teacher entering the school district with previous teaching may bring eighteen (18) years of teaching experience into the district. The superintendent will use a salary/hiring schedule which includes the salaries, years of experience and educational levels of all existing district employees. Teachers entering the district will be paid in alignment with current employees with similar experience and education levels. If it is in the best interest of the district, the superintendent has the discretion in placing a new teacher within the hiring structure using criteria other than years of experience and educational differentials. Any vacancy that remains unfilled after July 1st, or any position that is vacated after July 1st, the Board may offer a one-time signing bonus, not to exceed $2,000, to the successful candidate as an incentive to accept the contract offer. (Note: The signing bonus is a one-time payment and would not be repeated for the same employee in extension of this contract if a new contract is not ratified.)
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Related to Salary Increase Due to Elimination of Pension Fund

  • Salary Increase 46.01 Effective July 1, 2020 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2021 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2022 an increase equal to 1% will be added to the job rates and to the salaries of all employees.

  • Submission of Salary Increases Recommendations for salary increases must be made to be effective on the first day of the month and must be submitted prior to the proposed effective date. However, retroactive six (6) month and annual salary increases to correct errors or oversights and retroactive payments resulting from grievance settlements shall be authorized. The proposed effective date for retroactive six (6) month and annual salary increases must be the first day of the month no more than twelve (12) months prior to the time of submitting the correcting recommendation.

  • SALARY STEP INCREASES a. Increases to steps above the entry step shall be based on performance and length of service. The employee must have earned the equivalent of at least twenty-six

  • Salary Increases During the period of employment as provided in Paragraph 1(b) hereof, the base salary of the Executive shall be reviewed no less frequently than annually by the Board or the Compensation Committee of the Board to determine whether or not the same should be increased in light of the duties and responsibilities of the Executive and the performance thereof, and if it is determined that an increase is merited, such increase shall be promptly put into effect and the base salary of the Executive as so increased shall constitute the base salary of the Executive for purposes of Paragraph 3(a).

  • General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.

  • Salary Increments The Employer, may grant an increment for meritorious service after an employee has served for a period of twelve (12) months following the first day of the month established in Article 35.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 35.04, 35.05, or 35.06.

  • Salary Step Advancement No period of unpaid leave shall be counted toward time served for purposes of salary step advancement. Completion of at least 75% of the assigned work year for the employee in a paid status is a prerequisite to salary advancement.

  • Salary Schedule Advancement The base salaries in each cluster within a step may be increased through COLA, turnover savings, increments, and additional educational attainment. Once placed in a cluster within a step, faculty do not move from cluster to cluster except as described in B.3.B below.

  • Supplementation of Compensation Award ‌ If an employee is prevented from performing the employee's regular work with the City on account of an occupational accident that is recognized by the Workers' Compensation Board as compensable within the meaning of the Workers' Compensation Act, the City will supplement the award made by the Workers' Compensation Board for loss of wages to the employee by such an amount that the award of the Workers' Compensation Board for loss of wages (excluding non- economic loss payment), together with the supplementation by the City, will equal 100% of the employee's regular net wage (gross pay less statutory deductions, union dues and required benefit plan contributions). The said supplementation shall not be payable to any employee entitled to compensation after pension age if such an employee is entitled to an unreduced pension as provided under the Local Authorities Pension Plan or after the full age of 65 years if such an employee is not entitled to a pension. Subject to the foregoing limitation, the procedure to be followed in operating this policy shall be as follows:

  • SUPPLEMENTAL SALARY SCHEDULE 12.01 Every effort shall be made by the Board to post supplemental positions in a timely manner each school year. Teachers in the bargaining unit may apply for the supplemental vacancy within ten (10) working days of each posting. If no qualified bargaining unit member applies for the supplemental position, the Board may fill the vacancy with individuals not in the bargaining unit.

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