Rate Range and Discretionary Salary Increases Sample Clauses

Rate Range and Discretionary Salary Increases. The Company will establish and 2 fully distribute salary adjustment funds in accordance with the dates set forth below. No increase 3 adjustments to base pay will exceed the established Base Rate Range maximum. Employees at rate 4 maximums may receive lump sums in lieu of base salary increases. These lump sum increases will 5 charge to the salary adjustment fund. Review Period Fund Computation Date First Full Pay period Following Increase Percentage* 1 4/1/2020 7/1/2020 Market +0.5% 2 4/1/2021 7/1/2021 Market 3 4/1/2022 7/1/2022 Market 4 4/1/2023 7/1/2023 Market +0.5% 5 4/1/2024 7/1/2024 Market 6 4/1/2025 7/1/2025 Market * Minimum of $750 for any employee under comparatio of 1.00 and with hire dates six months or more prior to the Fund Computation Date 6 8 9 10 11 12 13 14 15 16 17 18 19 20
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Rate Range and Discretionary Salary Increases. The Company will establish and fully 12 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 13 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 14 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary 15 adjustment fund. 17 In February of 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, and 2020 a review of market increases 18 will be conducted. If survey data indicates a market adjustment has occurred, a Selective Salary 19 Adjustment Fund (“Fund”) will be generated, with selective salary adjustments made no later than the 20 first pay period following July 1 of that year. The following process shall be followed in calculating the 21 Fund. 23 • The SIRS High Technology Composite Salary Budgets Report (“Report”) will be used. 24 Should the SIRS report be discontinued or its methodology significantly changed, a similar 25 report will be used. No geographical adjustment shall be made to this Report. 26 27 • Three groupings in the Report shall be used in calculating a Fund amount: 28 o Exempt 29 o Non-Exempt – Office Clerical 30 o Non-Exempt – Technical Support 31 o Below is an example of how the Fund Percentage shall be calculated each year. Only 32 for the purpose of illustrating this calculation, assume there were 1100 exempt 33 employees and the SIRS report projected a 2.8% increase for exempt employees, 1 there were 100 non-exempt office clerical employees and the SIRS Report projected
Sample 1
Rate Range and Discretionary Salary Increases. The Company will establish and fully 14 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 15 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 16 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary 17 adjustment fund. 18 TABLE I 20 21 SELECTIVE SALARY ADJUSTMENT FUND 22 COMPUTATION DATES, EFFECTIVE DATES, 23 AND INCREASE PERCENTAGES 24 Review Period Fund Computation Date Increase Effective Date From Date Of Close Increase Percentage Minimum Increase 1 10 months 12 months 3.5% $750 2 22 months 24 months 3.5% $750 3 34 months 36 months 3.5% $750 4 46 months 48 months 3.5% $750 5 58 months 60 months 3.5% $750 25 26 27 28 29 30 31 32 33 34 35 36 37
Sample 1
Rate Range and Discretionary Salary Increases. The Company will establish and fully 2 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 3 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 4 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary 5 adjustment fund. 6 7 TABLE I 8 9 SELECTIVE SALARY ADJUSTMENT FUND 10 COMPUTATION DATES, EFFECTIVE DATES, 11 AND INCREASE PERCENTAGES 12 13 Fund Increase 14 Review Computation Effective Date Increase Minimum 15 Period Date From Date Percentage Increase 16 Of Close 18 1 10 months 12 months 3.5% $750 19 2 22 months 24 months 3.5% $750 20 3 34 months 36 months 3.5% $750 21 4 46 months 48 months 3.5% $750 22 5 48 months 60 months 3.5% $750 23 In February of 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, and 2020 a review of market increases 24 will be conducted. If survey data indicates a market adjustment has occurred, a Selective Salary 25 Adjustment Fund (“Fund”) will be generated, with selective salary adjustments made no later than the 26 first pay period following July 1 of that year. The following process shall be followed in calculating the 27 Fund. 28 29 • The SIRS High Technology Composite Salary Budgets Report (“Report”) will be used.
Sample 1
Rate Range and Discretionary Salary Increases. The Company will establish and fully 31 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 32 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 1 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary
Sample 1

Related to Rate Range and Discretionary Salary Increases

  • Salary Increases During the period of employment as provided in Paragraph 1(b) hereof, the base salary of the Executive shall be reviewed no less frequently than annually by the Board or the Compensation Committee of the Board to determine whether or not the same should be increased in light of the duties and responsibilities of the Executive and the performance thereof, and if it is determined that an increase is merited, such increase shall be promptly put into effect and the base salary of the Executive as so increased shall constitute the base salary of the Executive for purposes of Paragraph 3(a).

  • SALARY STEP INCREASES a. Increases to steps above the entry step shall be based on performance and length of service. The employee must have earned the equivalent of at least twenty-six

  • Salary Increase 46.01 Effective July 1, 2020 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2021 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2022 an increase equal to 1% will be added to the job rates and to the salaries of all employees.

  • Salary Increments The Employer, may grant an increment for meritorious service after an employee has served for a period of twelve (12) months following the first day of the month established in Article 35.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 35.04, 35.05, or 35.06.

  • General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.

  • Basic Salary Schedule The basic salaries of teachers shall be according to the following schedules: Effective the first day of the Fall Term, 2018 – 1.6% increase. Years of Experience Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 0 39,299 43,274 47,673 57,023 60,877 64,356 68,282 1 40,913 45,521 50,103 60,155 64,118 67,767 71,750 2 42,536 47,767 52,535 63,281 67,356 71,175 75,215 3 44,152 50,014 54,971 66,414 70,596 74,585 78,682 4 45,772 52,258 57,401 69,546 73,833 77,994 82,149 5 47,390 54,503 59,834 72,674 77,076 81,405 85,616 6 49,008 56,750 62,271 75,805 80,314 84,816 89,084 7 50,684 58,996 64,700 78,937 83,550 88,224 92,548 8 67,170 82,068 86,792 91,636 96,017 9 85,197 90,032 95,045 99,483 10 88,328 93,271 98,452 102,949 Effective the first day of the Fall Term, 2019 – 1.4% increase. Years of Experience Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 0 39,849 43,880 48,340 57,821 61,729 65,257 69,238 1 41,486 46,158 50,804 60,998 65,015 68,716 72,754 2 43,131 48,436 53,271 64,166 68,299 72,171 76,269 3 44,770 50,714 55,740 67,344 71,584 75,629 79,784 4 46,413 52,990 58,205 70,520 74,866 79,086 83,299 5 48,054 55,266 60,672 73,692 78,155 82,545 86,815 6 49,694 57,544 63,142 76,866 81,438 86,003 90,331 7 51,394 59,822 65,606 80,042 84,719 89,460 93,844 8 68,110 83,217 88,007 92,919 97,361 9 86,389 91,292 96,375 100,875 10 89,565 94,577 99,831 104,391 Effective the first day of the Fall Term, 2020 – 0.5% increase. Years of Experience Class 1 Class 2 Class 3 Class 4 Class 5 Class 6 Class 7 0 40,048 44,100 48,582 58,110 62,038 65,584 69,584 1 41,694 46,389 51,058 61,302 65,340 69,060 73,118 2 43,347 48,678 53,537 64,487 68,640 72,532 76,650 3 44,994 50,967 56,019 67,680 71,942 76,007 80,183 4 46,645 53,255 58,496 70,872 75,241 79,482 83,715 5 48,294 55,543 60,975 74,060 78,546 82,957 87,249 6 49,942 57,832 63,458 77,250 81,845 86,433 90,783 7 51,651 60,121 65,934 80,442 85,143 89,907 94,313 8 68,451 83,633 88,447 93,384 97,848 9 86,821 91,749 96,857 101,380 10 90,012 95,050 100,330 104,912 Effective the first day of the Fall Term, 2021 – COLA**. **COLA will be determined as follows: In January 2022, or as soon as possible thereafter, when the 12 month (January to December 2021) average annual Statistics Canada Consumer Price Index for Manitoba – All items, change is made known, the increase will be applied retroactively to September 1, 2021.

  • Salary Step Advancement No period of unpaid leave shall be counted toward time served for purposes of salary step advancement. Completion of at least 75% of the assigned work year for the employee in a paid status is a prerequisite to salary advancement.

  • Salary Schedule Advancement The base salaries in each cluster within a step may be increased through COLA, turnover savings, increments, and additional educational attainment. Once placed in a cluster within a step, faculty do not move from cluster to cluster except as described in B.3.B below.

  • Submission of Salary Increases Recommendations for salary increases must be made to be effective on the first day of the month and must be submitted prior to the proposed effective date. However, retroactive six (6) month and annual salary increases to correct errors or oversights and retroactive payments resulting from grievance settlements shall be authorized. The proposed effective date for retroactive six (6) month and annual salary increases must be the first day of the month no more than twelve (12) months prior to the time of submitting the correcting recommendation.

  • UNPAID DISCRETIONARY LEAVE 1. a. An employee shall be entitled to a minimum of three (3) days of unpaid discretionary leave each year.

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