Merit Increases. For Employees at or Above Step 6 On the pay period beginning closest to the employee’s anniversary date or promotional date, employees shall be eligible for a merit increase of a minimum of one-half percent (0.5%) up to a maximum of two and one-half percent (2.5%). In no event shall merit adjustment be granted which exceeds the range for the position.
Merit Increases. The Town's compensation plan has open pay ranges (see Attachment "A"). Employees will be eligible for pay increases based upon performance in each fiscal year. This merit-based increase will be determined based on the attached Attachment "B". This schedule is based upon the Town's general fund revenue as defined in Attachment "C". A portion of this schedule is based upon the Town's assessed value as reported approximately in July of each year to the Town by the Nevada County Auditor- Controller. The Town will calculate, and the Membership verify, the year-to-year percent change in the assessed value (including secured, unsecured and unitary tax rolls per Nevada County) from the immediate prior year. The Town will also utilize sales tax revenue projections provided by the outside consultant, a copy of which will be provided to the General Employee group prior to July 31 of each year. Any employee merit-based pay changes will then be awarded under the appropriate scale beginning July 1 of that year. The award date is based on the employee's annual evaluation date as determined by the Human Resources department. As an example, if the year-to-year percent increase in the Town's budgeted general fund revenue as defined in Attachment "C", is 1.3%, an employee who receives a pay for performance score of 3.87 on his/her evaluation will be eligible for a 1.0% merit increase to his/her base pay. If the year-to-year increase is 2.1%, the employee who receives a 3.87 on his/her evaluation will be eligible to receive a 2.0% merit increase to his/her base pay. Should the year-on-year increase in assessed valuation be above 4.5% and below 5.0%, the Town and the Membership shall meet to determine if a 4% pay for performance pool is feasible for that fiscal year.
Merit Increases. The wage scale as set forth in the Schedule of Wages of this Agreement reflects minimum rates and does not prohibit an employee from receiving a higher wage. The Employer shall notify the Union of any such increases.
Examples of Merit Increases in a sentence
EMPLOYEE shall be entitled to all cost of living and other salary and benefit adjustments implemented by the CITY as applicable to other full time Executive Management employees, to include City’s employee furlough program and eligibility for Merit Increases.
More Definitions of Merit Increases
Merit Increases refers to pay increases that may be awarded to employees based on the merit process developed by a joint labor-management committee and approved by the President.
Merit Increases. All wages set forth herein are minimum contract rates and nothing is to prevent the Employer from paying higher rates where he feels that merit, years of service, and/or exigency warrants. The Employer shall report to the Union office all unit merit increases awarded to the employees in the bargaining unit.