Wage Floor Adjustment. Effective February 1, 2019, the Employer shall establish a minimum monthly wage of two thousand six hundred ($2,600) dollars per month. Any salary step that is below this minimum wage shall be removed from the compensation plans. The two thousand six hundred ($2,600) dollar wage floor shall be determined within the range option ‘P’ compensation plan. Employees whose current rate is below the first (1st) step of the new range shall be moved to the first (1st) step of the truncated range. Employees will maintain their current salary eligibility date. The Wage floor adjustment shall be implemented after the PERS swap is implemented.
Appears in 9 contracts
Samples: Letter of Agreement, Letter of Agreement, Letter of Agreement
Wage Floor Adjustment. Effective February 1, 2019, the Employer shall establish a minimum monthly wage of two thousand six hundred ($2,600) dollars per month. Any salary step that is below this minimum wage shall be removed from the compensation plans. The two thousand six hundred ($2,600) dollar wage floor shall be determined within the range option ‘P’ compensation plan. Employees whose current rate is below the first (1st) step of the new range shall be moved to the first (1st) step of the truncated range. Employees will maintain their current salary eligibility date. The Wage floor adjustment shall be implemented after the PERS swap is implemented.. REV: 2015, 2017
Appears in 1 contract
Samples: Letter of Agreement
