Alternative Longevity Plan Sample Clauses

Alternative Longevity Plan. An employee who has completed 15 total years of service in the Braintree Public Schools may elect longevity payments of $2,000 per year for the three full consecutive years of employment that follow acceptance under this provision. Part-time employees shall receive this payment on a pro-rata basis. The appropriate amount will be added to the employee’s regular compensation, apportioned equally over the number of paychecks in the full work year. The option to elect this benefit is available only once during an employee’s career in Braintree. In order to qualify for this benefit, the employee must provide written notice of election of this benefit to the Superintendent of Schools by November 1 of the school year prior to the school year in which it will take effect (or by February 1, 2005 if the benefit is to begin in September, 2004 or September, 2005). All payments made pursuant to this provision are subject to all deductions required by state and/or federal laws during the three years in which it is paid. Said payments are not permanently thereafter part of an employee’s base salary, which shall revert to the employee’s customary place on the salary schedule following the three-year period during which the benefit was paid. Once an employee has elected this benefit and begun to receive the payments provided above, said election may not be rescinded or revoked for any reason. Further, said employee will no longer be eligible for benefits under #5 (Career Award) and #6 (Longevity) of Appendix A. A total of 60 employees may participate in this benefit: 20 in the 2004-05 school year, and an additional 20 in each the 2005-06 school year and 2006-07 school year, for a total of 60 in the 2006-07 school year and for each subsequent year thereafter. Available slots will be filled from among those applying according to total years of service and lottery number. In the event that the number of employees who apply for this benefit exceeds the number of slots available for any particular contract year, then a waiting list shall be established. Employees will be listed in descending order according to total years of service and lottery number and will receive the benefit as slots become available. A wait-listed employee will have the opportunity to withdraw her/his application for the benefit prior to being placed in an open slot. DIRECTORS AND ASSISTANT PRINCIPALS SALARY SCHEDULE 1% 2%+Adj 3% 4% Position 2004-2005 2005-2006 2006-2007 2007-2008 Directors Dir. of Elem. ...
AutoNDA by SimpleDocs

Related to Alternative Longevity Plan

  • Group Life Insurance Plan Section 1 - Eligibility Regular full-time and regular part-time employees who are on staff January 1, 1979 or who join the staff following this date shall, upon completion of the three-month probationary period, become members of the Group Life Insurance Plan as a condition of employment.

  • Staffing Plan 8.l The Board and the Association agree that optimum class size is an important aspect of the effective educational program. The Polk County School Staffing Plan shall be constructed each year according to the procedures set forth in Board Policy and, upon adoption, shall become Board Policy.

  • Management Plan The Management Plan is the description and definition of the phasing, sequencing and timing of the major Individual Project activities for design, construction procurement, construction and occupancy as described in the IPPA.

  • Service Plan 2.1 The Customer shall use the following applicable Service Plan and services during the Term:

  • Group Insurance Plan The carriers, coverage, and terms and conditions of participation under the District’s Group Insurance Plan are subject to change in accordance with the applicable provisions of Title I, Division 4, Chapter 10 of the California Government Code (Section 3500 et seq.) (Xxxxxx‐Milias‐Brown Act).

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Compensation Plan The Compensation Plan adopted by the City Council shall provide for salary schedules, rates, ranges, steps and any other special circumstances or items related to the total compensation paid employees. Each position within the classified services shall be allocated to its appropriate class in the classification plan on the basis of duties and responsibilities. Each class shall be assigned a salary range or a rate established in the salary plan. All persons entering the classified service shall be compensated in accordance with the salary plan then in effect.

  • 401K Plan The Company presently offers its employees a 401k plan with a Company match to be determined annually by the Compensation Committee of the Board of Directors. You may elect to contribute pre-tax deferrals through payroll deduction pursuant to the terms of the 401k plan.

  • Long Term Care The City may offer an option for employees to purchase a new long-term care benefit for themselves and certain family members.

  • EPP command RTT Refers to “EPP session-­‐command RTT”, “EPP query-­‐command RTT” or “EPP transform-­‐command RTT”.

Time is Money Join Law Insider Premium to draft better contracts faster.