Parity Compensation definition

Parity Compensation. If during the duration of this contract, the Board of Trustees approves an across- the-board salary increase or lump sum payment for another bargaining unit or a broad class of non- bargaining unit staff within a fiscal year that is greater than the amount the members received during the same fiscal year, the members’ pay will be adjusted so that they receive parity for that fiscal year. This parity obligation does not apply to adjustments to starting pay; market salary adjustments; job reclassifications; departmental reorganizations; adjustments to increase the compensation of employees who fall within the lower tiers of overall compensation for employees of the College; increases imposed by external agencies or adjudicators; or increases provided by individual contracts or grants. This provision also does not apply to individual merit increases or bonuses. Effective the first pay period that includes July 1, 2021, the minimum wage rate will be as follows: Environmental Services Technician: $16.48, or 3%, whichever is greater.
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Examples of Parity Compensation in a sentence

  • Parity Compensation is defined as 70% of the contract/regular salary schedule, steps 4 through 9 of Columns 1 and 2.

  • Parity Compensation is defined as seventy (70) percent of the contract/regular salary schedule, steps 4 through 9 of Columns 1 and 2.

  • Pay Parity • Parity Compensation: If the Board of Trustees approve an across-the-board lump sum payment or base salary increase for another bargaining unit or broad class of non-bargaining unit staff, the bargaining unit members are eligible for parity compensation as outlined below: o Effective July 1, 2018, any employee who does not receive a base salary market adjustment is eligible for parity compensation under this Section.

  • During the remainder of this Agreement, consistent with the Parity Compensation (“Me Too”) clause, base wages for all members will increase as noted below in the recently ratified AAUP bargaining agreement: Effective on the first day of academic year 2024-2025, the base salary of all unit members shall be increased by three percent (3%).

  • Consistent with the Parity Compensation (“Me Too”) clause in the collective bargaining agreement for the period October 12, 2021 – October 11, 2023, eligible unit members received a 5.33% increase to base wages due to compounding of increases of 1%, followed by an additional 1%, and 3.25%.