Rate of Longevity Pay Sample Clauses

Rate of Longevity Pay. During the first five (5) years of employment, an Employee accrues service time for determining future payments of longevity. After completion of the fifth year and ending with the tenth year of continuous service, an Employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity
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Rate of Longevity Pay. During the first five (5) years of employment, an employee accrues service time for determining future payments of longevity. After completion of the fifth year and ending with the tenth year of continuous service, an employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 5 yr. 1 mo. = 61 months x $2.00 = $122.00 After completion of the tenth year and ending with the fifteenth year of continuous service, an employee shall be paid $2.50 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 12 yr. 4 mo. = 148 months x $2.50 = $370.00 After completion of fifteenth year and ending with the twentieth year of continuous service, an employee shall be paid $3.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 16 yr. 6 mo. = 198 months x $3.00 = $594.00 After completion of twentieth year and ending with the twenty-fifth year of continuous service, an employee shall be paid $3.50 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 23 yr. 8 mo. = 284 months x $3.50 = $994.00 After completion of twenty-fifth year of continuous service, an employee shall be paid $4.00 per month for each year of service. Maximum years of service for purposes of longevity is twenty-five (25) years. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 25 yr. = 300 months x $4.00 = $1,200.00
Sample 1Sample 2
Rate of Longevity Pay. During the first five (5) years of employment, an Employee accrues service time for determining future payments of longevity. After completion of the fifth year and ending with the tenth year of continuous service, an Employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 5 yr. 1 mo. = 61 months x $2.00 = $122.00 After completion of the tenth year and ending with the fifteenth year of continuous service, an Employee shall be paid $2.50 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 12 yr. 4 mo. = 148 months x $2.50 = $370.00 After completion of fifteenth year and ending with the twentieth year of continuous service, an Employee shall be paid $3.00 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 16 yr. 6 mo. = 198 months x $3.00 = $594.00 After completion of twentieth year and ending with the twenty-fifth year of continuous service, an Employee shall be paid $3.50 per month for each year of service. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 23 yr. 8 mo. = 284 months x $3.50 = $994.00 After completion of twenty-fifth year of continuous service, an Employee shall be paid $4.00 per month for each year of service. Maximum years of service for purposes of longevity is twenty-five
Sample 1Sample 2
Rate of Longevity Pay. During first five (5) years of employment, an employee accrues service time for determining future payments of longevity. After completion of the fifth year and ending with the tenth year of continuous service, an employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Total Service Time Total Months Monthly Rate Longevity 5 yr. 1 mo. = 61 months x $2.00 = $122.00 After completion of the tenth year and ending with the fifteenth year of continuous service, an employee shall be paid $2.50 per month for each year of service. After completion of fifteenth year and ending with the twentieth year of continuous service, an employee shall be paid $3.00 per month for each year of service. After completion of twentieth year and ending with the twenty-fifth year of continuous service, an employee shall be paid $3.50 per month for each year of service. After completion of twenty-fifth year of continuous service, an employee shall be paid $4.00 per month for each year of service. Maximum years of service for purposes of longevity are twenty-five (25) years. (See attached Exhibit B)
Sample 1
Rate of Longevity Pay. During first five (5) years of employment, an employee accrues service time for determining future payments of longevity. After completion of the fifth year and ending with the tenth year of continuous service, an employee shall be paid $2.00 per month for each year of service. EXAMPLE: Total Total Service Time Total Months Monthly Rate Longevity 5 yr. 1 mo. = 61 months x $2.00 = $122.00 After completion of the tenth year and ending with the fifteenth year of continuous service, an employee shall be paid $2.50 per month for each year of service. EXAMPLE: Total Total Service Time Total Months Monthly Rate Longevity 12 yr. 4 mo. = 148 months x $2.50 = $370.00 After completion of fifteenth year and ending with the twentieth year of continuous service, an employee shall be paid $3.00 per month for each year of service. EXAMPLE: Total Total Service Time Total Months Monthly Rate Longevity 16 yr. 6 mo. = 198 months x $3.00 = $594.00 After completion of twentieth year and ending with the twenty-fifth year of continuous service, an employee shall be paid $3.50 per month for each year of service. EXAMPLE: Total Total Service Time Total Months Monthly Rate Longevity 23 yr. 8 mo. = 284 months x $3.50 = $994.00 After completion of twenty-fifth year of continuous service, an employee shall be paid $4.00 per month for each year of service. Maximum years of service for purposes of longevity is twenty-five (25) years. EXAMPLE: Total Service Time Total Months Monthly Rate Longevity 25 years = 300 months x $4.00 = $1,200.00 This policy is reflected in the schedule attached as Exhibit B.
Sample 1

Related to Rate of Longevity Pay

  • RATE OF VACATION PAY Compensation during vacation shall be at the rate of compensation as set forth for each classification in Appendix "A" which such employee would have been entitled to receive, including premium pay, while in active service during such vacation period.

  • Rate of Pay a. An Employee who is employed as a teacher teaching on call shall be paid 1/189 of his/her category classification and experience, to a maximum of the rate at Category 5 Step 7, for each full day worked.

  • Rate of Accrual All full-time employees shall be credited with five (5) hours of paid sick leave per pay period.

  • Rate of Compensation In lieu of direct compensation for all overtime, shift work and standby (as defined in Articles 16, 17 and 18 of this Agreement), regular full-time employees shall receive a special compensation of 7% of their basic salary earned for each calendar year. This special compensation shall not be considered part of the employee's basic salary for the purpose of calculating any benefits or other premium entitlements.

  • Longevity Pay If an employee leaves State Classified employment and later is rehired, he/she shall receive no longevity pay. However, once such a rehired employee has been in pay status for five (5) years, all previous service time shall be credited for longevity pay. The only exception shall be for employees rehired who repay severance pay received. (See Article 22, Section Q.)

  • Rate of Accumulation Full-time employees shall earn cumulative sick leave at the rate of 1.25 days per month during each calendar year to a maximum of seventy-five (75) days in total. Regular part-time employees will earn sick leave on a prorated basis.

  • Mileage Rates The mileage rate shall be the maximum allowed by the Internal Revenue Service. If the IRS rate should change during the term of the contract, the contract rate shall change also on the date specified by the IRS.

  • CAISO Monthly Billed Fuel Cost [for Geysers Main only] The CAISO Monthly Billed Fuel Cost is given by Equation C2-1. CAISO Monthly Billed Fuel Cost Equation C2-1 = Billable MWh ◆ Steam Price ($/MWh) Where: • Steam Price is $16.34/MWh. • For purposes of Equation C2-1, Billable MWh is all Billable MWh Delivered after cumulative Hourly Metered Total Net Generation during the Contract Year from all Units exceeds the Minimum Annual Generation given by Equation C2-2. Equation C2-2 Minimum Annual Generation = (Annual Average Field Capacity ◆ 8760 hours ◆ 0.4) - (A+B+C) Where: • Annual Average Field Capacity is the arithmetic average of the two Field Capacities in MW for each Contract Year, determined as described below. Field Capacity shall be determined for each six-month period from July 1 through December 31 of the preceding calendar year and January 1 through June 30 of the Contract Year. Field Capacity shall be the average of the five highest amounts of net generation (in MWh) simultaneously achieved by all Units during eight-hour periods within the six-month period. The capacity simultaneously achieved by all Units during each eight-hour period shall be the sum of Hourly Metered Total Net Generation for all Units during such eight-hour period, divided by eight hours. Such eight-hour periods shall not overlap or be counted more than once but may be consecutive. Within 30 days after the end of each six-month period, Owner shall provide CAISO and the Responsible Utility with its determination of Field Capacity, including all information necessary to validate that determination. • A is the amount of Energy that cannot be produced (as defined below) due to the curtailment of a Unit during a test of the Facility, a Unit or the steam field agreed to by CAISO and Owner. • B is the amount of Energy that cannot be produced (as defined below) due to the retirement of a Unit or due to a Unit’s Availability remaining at zero after a period of ten Months during which the Unit’s Availability has been zero. • C is the amount of Energy that cannot be produced (as defined below) because a Force Majeure Event reduces a Unit’s Availability to zero for at least thirty (30) days or because a Force Majeure Event reduces a Unit’s Availability for at least one hundred eighty (180) days to a level below the Unit Availability Limit immediately prior to the Force Majeure Event. • The amount of Energy that cannot be produced is the sum, for each Settlement Period during which the condition applicable to A, B or C above exists, of the difference between the Unit Availability Limit immediately prior to the condition and the Unit Availability Limit during the condition.

  • Rate of Payment F9.16 While an employee is on a period of purchased leave the employee will be paid at the rate of pay used to calculate the employee’s deduction.

  • BASE PAY RATE The employee's basic hourly rate exclusive of overtime premium, shift premium, stability or any other special allowances.

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