Common use of CAREER INCENTIVE Clause in Contracts

CAREER INCENTIVE. ‌ All employees covered hereunder who have completed a total of eight (8) years or more of full-time service with the District shall be entitled to annual longevity pay at the rate of .25% (.0025) of the base pay for each year of continuous service with the District up to a maximum payment of 6.25% (.0625) for twenty-five (25) years or more of service. An employee’s eligibility for longevity pay shall be reviewed as of June 1 and December 1 of each year with payment to be effected in equal semiannual installments payable on the first payday of June and December immediately following a determination of eligibility. For qualified employees retiring or resigning before the due date of any semi-annual payment, the amount of payment shall be prorated.

CAREER INCENTIVE. ‌ All employees covered hereunder who have completed a total of eight five (8) 5) years or more of full-time service with the District shall be entitled to annual longevity pay at the rate of .25% one half percent (.0025.50%) of the base pay for each year of continuous service with the District up to a maximum payment of 6.25% ten percent (.062510%) for twenty-five or ten thousand dollars (25) years or more of service$10,000), whichever is less. An employee’s eligibility for longevity pay shall be reviewed as of June 1 1st and December 1 1st of each year with payment to be effected affected in equal semiannual installments payable on the first payday of June and December immediately following a determination of eligibility. For qualified employees retiring or resigning before the due date of any semi-annual payment, the amount of payment shall be prorated.

CAREER INCENTIVE. ‌ All employees covered hereunder who have completed a total of eight (8) years or more of full-time service with the District shall be entitled to annual longevity pay at the rate of .25% (.0025) of the base pay for each year of continuous service with the District up to a maximum payment of 6.25% (.0625) for twenty-five (25) years or more of service. An employee’s eligibility for longevity pay shall be reviewed as of June 1 and December 1 of each year with payment to be effected in equal semiannual installments payable on the first payday of June and December immediately following a determination of eligibility. For qualified employees retiring or resigning before the due date of any semi-annual payment, the amount of payment shall be prorated.

CAREER INCENTIVE. ‌ All employees covered hereunder who have completed a total of eight (8) years or more of full-time service with the District shall be entitled to annual longevity pay at the rate of .25% (.0025) of the base pay for each year of continuous service with the District up to a maximum payment of 6.25% (.0625) for twenty-five (25) years or more of service. An employee’s eligibility for longevity pay shall be reviewed as of June 1 and December 1 of each year with payment to be effected in equal semiannual installments payable on the first payday of June and December immediately following a determination of eligibility. For qualified employees retiring or resigning before the due date of any semi-annual semiannual payment, the amount of payment shall be prorated.

CAREER INCENTIVE. ‌ All employees covered hereunder who have completed a total of eight five (8) 5) years or more of full-time service with the District shall be entitled to annual longevity pay at the rate of .25% one-half percent (.0025.1/2 %) of the base pay for each year of continuous service with the District up to a maximum payment of 6.25% ten percent (.062510%) for twenty-five not to exceed fifteen thousand (25) years or more of service$15,000). An employee’s eligibility for longevity pay shall be reviewed as of June 1 1st and December 1 1st of each year with payment to be effected affected in equal semiannual installments payable on the first payday of June and December immediately following a determination of eligibility. For qualified employees retiring or resigning before the due date of any semi-annual semiannual payment, the amount of payment shall be prorated.

CAREER INCENTIVE. ‌ All employees covered hereunder who have completed a total of eight (8) years or more of full-time service with the District shall be entitled to annual longevity pay at the rate of .25% (.0025) of the base pay for each year of continuous service with the District up to a maximum payment of 6.25% (.0625) for twenty-five (25) years or more of service. An employee’s eligibility for longevity pay shall be reviewed as of June 1 and December 1 of each year with payment to be effected in equal semiannual installments payable on the first payday of June and December immediately following a determination of eligibility. For qualified employees retiring or resigning before the due date of any semi-annual semiannual payment, the amount of payment shall be prorated.