Common use of Vacation Accrual - Continuous service Clause in Contracts

Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours during the first through fourth years of service (cumulative to a total leave balance of 180-hours). This benefit will be accumulated at the rate of 3.08 working hours for each full biweekly pay period of service performed. 2. Employees will accrue and be eligible to receive 120-hours (cumulative to a total leave balance of 260-hours) during the fifth through ninth year of service. The benefits will be accumulated at the rate of 4.62 working hours for each full biweekly pay period of service performed. 3. Employees will accrue and be eligible to receive 160-hours (cumulative to a total leave balance of 340-hours) during the tenth through fourteenth years of service. This benefit will be accumulated at the rate of 6.15 working hours for each full biweekly pay period of service performed. 4. Employees will accrue and be eligible to receive 200-hours (cumulative to a total leave balance of 420-hours) during the fifteenth and succeeding years of service. This benefit will be accumulated at the rate of 7.69 working hours for each full biweekly pay period of service performed. 5. Rounding may extend further decimal places as payroll systems are upgraded. 6. Vacation accrual rate changes will become effective at the beginning of the pay period closest to the actual date which includes the employee anniversary date of benefited status.

Appears in 2 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding

AutoNDA by SimpleDocs

Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours during the first through fourth years of service (cumulative to a total leave balance of 180-hours). This benefit will be accumulated at the rate of 3.08 working hours for each full biweekly pay period of service performed. 2. Employees will accrue and be eligible to receive 120-hours (cumulative to a total leave balance of 260-hours) during the fifth through ninth year of service. The benefits will be accumulated at the rate of 4.62 working hours for each full biweekly pay period of service performed. 3. Employees will accrue and be eligible to receive 160-hours (cumulative to a total leave balance of 340-hours) during the tenth through fourteenth years of service. This benefit will be accumulated at the rate of 6.15 working hours for each full biweekly pay period of service performed. 4. Employees will accrue and be eligible to receive 200-hours (cumulative to a total leave balance of 420-hours) during the fifteenth and succeeding years of service. This benefit will be accumulated at the rate of 7.69 working hours for each full biweekly pay period of service performed. 5. Rounding may extend further decimal places as payroll systems are upgraded. 6. Vacation accrual rate changes will become effective at the beginning of the pay period closest to the actual date which includes the employee anniversary date of benefited status. 7. Vacation sell back – All members of represented classifications who have completed at least five (5) years of service shall have the option of selling up to 60-hours of said vacation back to the City one time per fiscal year. The accumulated vacation balance will be reduced accordingly.

Appears in 2 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding

AutoNDA by SimpleDocs

Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours during the first through fourth years of service (cumulative to a total leave balance of 180-hours). This benefit will be accumulated at the rate of 3.08 working hours for each full biweekly pay period of service performed. 2. Employees will accrue and be eligible to receive 120-hours (cumulative to a total leave balance of 260-hours) during the fifth through ninth year of service. The benefits will be accumulated at the rate of 4.62 working hours for each full biweekly pay period of service performed. 3. Employees will accrue and be eligible to receive 160-hours (cumulative to a total leave balance of 340-hours) during the tenth through fourteenth years of service. This benefit will be accumulated at the rate of 6.15 working hours for each full biweekly pay period of service performed. 4. Employees will accrue and be eligible to receive 200-hours (cumulative to a total leave balance of 420-hours) during the fifteenth and succeeding years of service. This benefit will be accumulated at the rate of 7.69 working hours for each full biweekly pay period of service performed. 5. Rounding may extend further decimal places as payroll systems are upgraded. 6. Vacation accrual rate changes will become effective at the beginning of the pay period closest to the actual date which includes the employee anniversary date of benefited status. 7. Vacation sell back – All members of represented classifications who have completed at least five (5) years of service shall have the option of selling up to 80- hours of said vacation back to the City one time per fiscal year. The accumulated vacation balance will be reduced accordingly.

Appears in 1 contract

Samples: Memorandum of Understanding

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!