YEAR EMPLOYEES. Regular, full-time employees who have thirty (30) years or more of regular County service and are no longer subject to retirement deductions, shall be paid a four percent (4%) retirement incentive on a biweekly basis. This incentive shall be taxable and not be considered part of the employee's base salary. Payments made under the provisions of this Section shall be calculated at the salary rate in effect at the time such payment is made. Effective July 6, 2014, in conjunction with the one-time offset increases described in Section 501-3, the foregoing shall become inoperative.
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Samples: Memorandum of Agreement, Memorandum of Agreement, Memorandum of Agreement
YEAR EMPLOYEES. Regular, full-time employees who have thirty (30) years or more of regular County service and are no longer subject to retirement deductions, shall be paid a four percent (4%) retirement incentive on a biweekly basis. This incentive shall be taxable and not be considered part of the employee's base salary. Payments made under the provisions of this Section shall be calculated at the salary rate in effect at the time such payment is made. Effective July 6, 2014, in conjunction with the one-time offset increases described in Section 501-3, the foregoing shall become inoperative.
Appears in 2 contracts
