STABILITY ADJUSTMENTS Sample Clauses

STABILITY ADJUSTMENTS. 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. The maximum annual salary on which stability pay will be computed shall be in accordance with the following schedule: Maximum Base Salary On Which Years of Service StabilityPay Will Be Computed Less than eleven (11) years of continuous service $16,000 Eleven (11) years but less than twelve (12) years of continuous service $17,000 Twelve (12) years but less than thirteen (13) years of continuous service $18,000 Thirteen (13) years but less than fourteen (14) years of continuous service $19,000 Fourteen (14) years but less than fifteen (15) years of continuous service $20,000 Fifteen (15) years but less than sixteen (16) years of continuous service $21,000 Sixteen (16) years but less than seventeen (17) years of continuous service $22,000 Seventeen (17) years but less than eighteen (18) years of continuous service $23,000 Eighteen (18) or more years of continuous service. $24,000 Such stability payment shall be paid in a lump sum on a December payroll.
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STABILITY ADJUSTMENTS. Section 1. When an employee has completed five (5) years of continuous service with the EMPLOYER 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
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STABILITY ADJUSTMENTS. 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.‌‌ Years of Employment‌‌ Retention Pay 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.‌
Sample 1
STABILITY ADJUSTMENTS. 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. The maximum annual salary on which stability pay will be computed shall be in accordance with the following schedule: Maximum Base Salary On Which
Sample 1
STABILITY ADJUSTMENTS. 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. Years of Employment Retention Pay 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.
Sample 1

Related to STABILITY ADJUSTMENTS

  • EQUITY ADJUSTMENTS The parties subscribe to the principle of equal pay for work of equal value. The parties will continue to move towards the mutual goal of the Community Social Services Sector achieving the objectives set out in Sections A(1), (2) and (3) above, as follows:

  • Budget Adjustments The Grantee shall submit the Budget Adjustment Request [TJJD-FIS-304] to the Department for any adjustment to the original budget. The Grantee must receive written or electronic approval from the Department prior to expending the funds.

  • Workplace adjustment An employer wishing to employ a person under the provisions of this clause shall take reasonable steps to make changes in the workplace to enhance the employee’s capacity to do the job. Changes may involve re-design of job duties, working time arrangements and work organisation in consultation with other employees in the area.

  • Pay Adjustments (1) Where the rate of pay of a position or job is adjusted upwards, the employee shall be placed on the lowest step of the new pay range which will give him/her a monthly increase and the increment anniversary shall be that date.

  • Market Adjustments 22. Neither this Article nor any other in this Collective Agreement prevents the Employer from using other funds to increase a Member’s salary in response to offers received from other employers or to accommodate other market forces.

  • Wage Adjustments If the funding available to be used for wages provided by Government in any fiscal year increases, the Employer shall pass on such increases to employees consistent with the funding increase adjusted for any additional deficits that this contract incurs. This will be the case whether the funding increase is for the entire year or simply a portion of it, and wage increases shall be effective upon the effective date of the increased funding. Should there be no increase provided by Government, wages will be maintained at their present levels. Should there be a decrease in funding, then the Employer will maintain wages at present levels. The Employer will promptly provide the Union with any information it receives from the Government regarding funding available for wages, and the parties will meet as required to work towards cooperative resolution of any issues arising from this Government information.

  • Cost Adjustments Both parties agree that contracted prices shall be fixed for the first 12 months of this Contract. Contractor must submit to District any proposed cost adjustments at least 60 days before the proposed effective date of such increases with a detailed explanation for each adjustment. District alone reserves the right to reject any changes to this Contract it deems unacceptable.

  • Price Adjustments 17.1 Prices for Goods/Services supplied in terms of this Agreement shall be subject to review as indicated in the Schedule of Requirements/Works Order annexed hereto.

  • Salary Adjustments At any time during the term of this Contract, the Board may, in its discretion, review and adjust the salary of the Superintendent, but in no event shall the Superintendent be paid less than the salary set forth in Section 3.1 of this Contract except by mutual agreement of the two parties. Such adjustments, if any, shall be made pursuant to a lawful Board resolution. In such event, the parties agree to provide their best efforts and reasonable cooperation to execute a new contract incorporating the adjusted salary.

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