Common use of Retention Incentive Bonus Clause in Contracts

Retention Incentive Bonus. Members of the system whose membership began 18 prior to January 1, 1982, and as of January 1, 2001, are either actively 19 employed or on an approved leave of absence, shall have their final average 20 salary increased by a bonus of 7.5% for each year of pension service credit 21 earned after January 1, 2001. Said bonus shall be credited on a daily basis and 22 the maximum bonus which can be added to an eligible member’s final average 23 salary shall not exceed 25%. This provision shall not apply to a member of the 24 employee’s Retirement System who became a member of the system prior to 25 January 1, 1982, and as of January 1, 2001 is either for a deferred vested 26 benefit under 201.24 (4.5) or is receiving a pension benefit, unless such 27 member returns to active County employment on or after January 1, 2001 and 28 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members of the system System whose membership 19 began 18 prior to January 1, 1982, and as of January 1, 2001, are either actively 19 20 employed or on an approved leave of absence, shall have their final average 20 21 salary increased by a bonus of 7.5% for each year of pension service credit 21 22 earned after January 1, 2001. Said bonus shall be credited on a daily basis 23 and 22 the maximum bonus which can be added to an eligible member’s final 24 average 23 salary shall not exceed 25%. This provision shall not apply to a 25 member of the 24 employeeEmployee’s Retirement System who became a member of 26 the system System prior to 25 January 1, 1982, and as of January 1, 2001 is either 27 eligible for a deferred vested 26 benefit under 201.24 (4.5) or is receiving a 28 pension benefit, unless such 27 member returns to active County employment on or after January 1, 2001 29 and 28 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members of the system System whose membership 8 began 18 prior to January 1, 1982, and as of January 1, 2001, are either actively 19 9 employed or on an approved leave of absence, shall have their final average 20 10 salary increased by a bonus of 7.5% for each year of pension service credit 21 11 earned after January 1, 2001. Said bonus shall be credited on a daily basis 12 and 22 the maximum bonus which can be added to an eligible member’s final 13 average 23 salary shall not exceed 25%. This provision shall not apply to a 14 member of the 24 employeeEmployee’s Retirement System who became a member of 15 the system System prior to 25 January 1, 1982, and as of January 1, 2001 is either 16 eligible for a deferred vested 26 benefit under 201.24 (4.5) or is receiving a 17 pension benefit, unless such 27 member returns to active County employment on or after January 1, 2001 18 and 28 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members of the system System whose 30 membership began 18 prior to January 1, 1982, and as of January 1, 1 2001, are either actively 19 employed or on an approved leave of 2 absence, shall have their final average 20 salary increased by a bonus 3 of 7.5% for each year of pension service credit 21 earned after 4 January 1, 2001. Said bonus shall be credited on a daily basis and 22 5 the maximum bonus which can be added to an eligible member’s 6 final average 23 salary shall not exceed 25%. This provision shall not 7 apply to a member of the 24 employeeEmployee’s Retirement System who 8 became a member of the system System prior to 25 January 1, 1982, and as of 9 January 1, 2001 is either eligible for a deferred vested 26 benefit 10 under 201.24 (4.5) or is receiving a pension benefit, unless such 27 11 member returns to active County employment on or after January 12 1, 2001 2000 and 28 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members Member’s of the system System whose membership 14 began 18 prior to January 1, 1982, and as of January 1, 2001, are either 15 actively 19 employed or on an approved leave of absence, shall have their 16 final average 20 salary increased by a bonus of 7.5% for each year of pension 17 service credit 21 earned after January 1, 2001. Said bonus shall be credited 18 on a daily basis and 22 the maximum bonus which can be added to an eligible 19 member’s final average 23 salary shall not exceed 25%. This provision shall 20 not apply to a member of the 24 employeeEmployee’s Retirement System who became 21 a member of the system System prior to 25 January 1, 1982, and as of January 1, 22 2001 is either eligible for a deferred vested 26 benefit under 201.24 (4.5) or is 23 receiving a pension benefit, unless such 27 member returns to active County 24 employment on or after January 1, 2001 and 28 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members of the system whose membership began 18 16 prior to January 1, 1982, and as of January 1, 2001, are either actively 19 17 employed or on an approved leave of absence, shall have their final average 20 18 salary increased by a bonus of 7.5% for each year of pension service credit 21 19 earned after January 1, 2001. Said bonus shall be credited on a daily basis and 22 20 the maximum bonus which can be added to an eligible member’s final average 23 21 salary shall not exceed 25%. This provision shall not apply to a member of the 24 22 employee’s Retirement System who became a member of the system prior to 25 23 January 1, 1982, and as of January 1, 2001 is either for a deferred vested 26 24 benefit under 201.24 (4.5) or is receiving a pension benefit, unless such 27 25 member returns to active County employment on or after January 1, 2001 and 28 26 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members of the system System whose 21 membership began 18 prior to January 1, 1982, and as of January 1, 2001, 22 are either actively 19 employed or on an approved leave of absence, shall 23 have their final average 20 salary increased by a bonus of 7.5% for each 24 year of pension service credit 21 earned after January 1, 2001. Said 25 bonus shall be credited on a daily basis and 22 the maximum bonus which 26 can be added to an eligible member’s final average 23 salary shall not 27 exceed 25%. This provision shall not apply to a member of the 24 employee28 Employee’s Retirement System who became a member of the system System 29 prior to 25 January 1, 1982, and as of January 1, 2001 is either eligible for 30 a deferred vested 26 benefit under 201.24 (4.5) or is receiving a pension 1 benefit, unless such 27 member returns to active County employment on or after January 1, 2001 and 28 2 is eligible to earn additional pension service credit.

Retention Incentive Bonus. Members of the system System whose 12 membership began 18 prior to January 1, 1982, and as of January 1, 2001, 13 are either actively 19 employed or on an approved leave of absence, shall 14 have their final average 20 salary increased by a bonus of 7.5% for each 15 year of pension service credit 21 earned after January 1, 2001. Said 16 bonus shall be credited on a daily basis and 22 the maximum bonus which 17 can be added to an eligible member’s final average 23 salary shall not 18 exceed 25%. This provision shall not apply to a member of the 24 employee19 Employee’s Retirement System who became a member of the system System 20 prior to 25 January 1, 1982, and as of January 1, 2001 is either eligible for 21 a deferred vested 26 benefit under 201.24 (4.5) or is receiving a pension 22 benefit, unless such 27 member returns to active County employment on or after January 1, 2001 and 28 23 is eligible to earn additional pension service credit.