(a) Full-time and part-time employees of the Village are entitled to receive longevity pay in accordance with the following schedule:
Years of Consecutive Service | Amount |
3 years of service | 2% of annual compensation |
5 years of service | 3% of annual compensation |
7 years of service | 4% of annual compensation |
10 years of service | 5% of annual compensation |
(b) Longevity is paid in one lump sum with the first pay period of December earnings, and is in addition to regular compensation for eligible full and part-time Village employees. Employees are eligible for longevity pay at the percentages listed above after having completed the service requirements as listed above.
(c) Prior service with another political subdivision is not accepted as credit for the purpose of calculating longevity pay. Village employees must be employed with the Village to receive longevity pay.
(Ord. 2003-27. Passed 12-17-03.)