Longevity Increase. Each year, each employee who reaches his/her 20th through 24th anniversary of employment shall on their anniversary date receive a lump sum longevity bonus payment equivalent to a one (1) percent annual base salary increase; those reaching their 25th or greater anniversary, a similar lump sum longevity bonus payment the equivalent of two (2) percent annual base salary increase.
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement