Common use of Amount of Longevity Pay Clause in Contracts

Amount of Longevity Pay. The annual longevity pay shall be at the rate of one-half of one percent (0.5%) of base salary multiplied by the number of years of service with the City up to a maximum of ten percent (10%). The actual calculation is as follows: Base Salary x Number of Months Employed x 0.5% 12

Amount of Longevity Pay. The annual Employees shall earn longevity pay shall be at the rate of one-one half of one percent (0.5%) of annual base salary multiplied by the number of years of service with the City up to a maximum of ten percent (10%), or six thousand dollars ($6,000.00) per year whichever is the lesser amount. The actual calculation used in an example is as follows: Base Salary x Number of Months Employed x 0.5% .005 12

Amount of Longevity Pay. The annual longevity pay shall be at the rate of one-half of one percent (0.5%) of annual base salary multiplied by the number of years of service with the City up to a maximum of ten percent (10%), or five thousand dollars ($5,000), whichever is the lesser amount. All employees hired after December 20, 1993, may earn longevity pay in accordance with the above requirement up to a maximum of two thousand five hundred (2,500) per year. Effective the first full pay period following July 1, 2016, the twenty five hundred dollars ($2,500) maximum will be increased to three thousand dollars ($23,5000 per year. The actual calculation used in an example is as follows: Base Salary x X Number of Months Employed x 0.5% X .005 12