Educational Compensation. In addition to the salary set forth in 16.1-A, all administrators who have earned additional educational increments above the Master's Degree will be compensated as follows: Education Additional Compensation Master's + 15 Credits 2.0% of Step 2 of Elementary School Principal Base Salary Master's + 30 Credits 3.5% of Step 2 of Elementary School Principal Base Salary Master's + 45 Credits 5.0% of Step 2 of Elementary School Principal Base Salary Master's + 60 Credits or Ph.D 6.5% of Step 2 of Elementary School Principal Base Salary 16.2 The School District agrees to pay the administrative employee's contribution to the Public Employees Retirement System. /// 16.3 Longevity Increments. 16.3-1 Employee with 15 Years of Service Effective for the 2012-2013 school year a stipend of $800 will be added to the base pay of each employee who has completed fifteen years of eligible service. 16.3-2 Employee with 20 Years of Service Effective for the 2012-2013 school year a stipend of $1700 will be added to the base pay of each employee who has completed twenty years of eligible service. The stipend in section 16.3-2 is not added to the stipend in section 16.3-1. 16.3 3 - Employee with 25 Years of Service A stipend of $2000 will be added to the base pay of each employee who has completed twenty-five years of eligible service. The stipend in section 16.3-3 is not added to the stipend in section 16.3-1 and 16.3-2. The above stipends are payable on or before June 30th.
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