Service Increment definition

Service Increment means the amount calculated pursuant to section 4.06 on behalf of a Participant for each completed year of Credited Service accumulated in excess of twenty-five (25) years.

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Service Increment means the amount calculated pursuant to section 4.06 on behalf of a Participant for Aggregate Service in excess of twenty-five (25) years.

Service Increment means the amount determined under Section 4.03 on behalf of a Participant who accumulates completed Years of Credited Service in excess of the number of Years of Credited Service which are required for attainment of Normal Retirement Age.

Examples of Service Increment in a sentence

• Effective April 1, 2008, the Employer will grant paid leave of up to 40 hours per year to a Registered Nurse who is in receipt of the Long Service Increment.

• Long Service Increment pay increases will be effective in the first September payroll.

• Add Long Service Increment at 5.75% of Long Service Increment Base after 20, 25, 30, 35, 40, and 45 years if the teacher is on the 20-year plan and at 3.45% of Long Service Increment Base after 15, 20, 25, 30, 35, 40, and 45 years if the teacher is on the 15-year plan.

• Service Increment increases apply only if employee remained in the same College Accountant level upon conversion.

• For purposes of the Long Service Increment, each current employee (an employee hired before September 1, 2009) will have his/her years of service rounded up (e.g. and employee who has completed 11 years and 1 month on September 1 of the year will be considered to have completed 12 years and will be paid on the 12-16 year pay range).

• Annually, at a time convenient to each college, and upon the submission of the appropriate request form, each employee shall be given a statement of his or her salary, indicating base pay and any supplement such as Service Increment or Longevity Differential.

• Each employee hired on or after September 1, 2009 must have completed a full year increment as of September 1 of each year in order to be eligible for a Long Service Increment increase (e.g. an employee who has completed 11 years and eleven months of service on September 1 of the year will be in the 5-11 year pay range while an employee who has completed 12 years and 1 month will be paid in the 12-16 year pay range).

• Effective April 1, 2013, the Institute shall provide a Long Service Increment that will be effective after the completion of fifteen (15) years of service with the Institute.

• With the recommendation of the Superintendent and approval of the Board of Education, a unit member may rescind their notice of retirement in the event the unit member experiences an unforeseen circumstance or emergency (such as the death of a spouse), without losing their eligibility to receive the Service Increment in the future.

• An Employee who is receiving a Long Service Increment in accordance with Article 13.1.8 on the date of resignation will continue to receive such increment during his/her Phased Retirement.

More Definitions of Service Increment

Service Increment means the amount calculated pursuant to Section 4.04 on behalf of a Participant for each completed year of service in excess of twenty-five

Service Increment means an increment to the Passenger Services as set out in the Appendix (List of Anticipated Service Increments) to Schedule 6.1 (Anticipated Service Increments);