(a) Full-time employees shall be awarded annual longevity pay upon completion of the following period of employment through the end of 2011.
First full calendar year of employment | $480.00 |
2 years | 600.00 |
3 years | 720.00 |
4 years | 840.00 |
5 years | 960.00 |
6 years | 1,080.00 |
7 years | 1,200.00 |
8 years | 1,320.00 |
9 years | 1,440.00 |
10 years | 1,560.00 |
11 years | 1,680.00 |
12 years and beyond | 1,800.00 |
Following 2011, the top annual service supplement shall be as follows:
2012 | 11 Years | 1,680 |
2013 | 10 Years | 1,560 |
2014 | 9 Years | 1,440 |
2015 | 8 Years | 1,320 |
2016 | 7 Years | 1,200 |
2017 | 6 Years | 1,080 |
2018 | 5 Years | 960 |
2019 | 4 Years | 840 |
2020 | 3 Years | 720 |
2021 | 2 Years | 600 |
2022 | 1 Year | 480 |
And after 2022, this supplemental pay shall be discontinued. Any portion of longevity pay due to an employee who is eligible to participate in the City of Loveland Cafeteria Plan (the "Cafeteria Plan") may be designated as a contribution in to the Plan.
(b) For 2012 only, up to forty (40) hours of vacation or compensable leave time only may be converted into cash.
(c) Medical reimbursement and dependent care reimbursement will be paid monthly upon submission of properly documented expenses according to City administrative policy. Eligible medical and dependent care expenses are those allowed by the I.R.S. as described in the City of Loveland Cafeteria Plan Summary Plan Description.
(d) Before the first day of each year, the employee must irrevocably notify the Finance Director in writing how much of his or her longevity pay, compensable leave time and/or other compensation shall be contributed to the Cafeteria Plan or otherwise converted to cash for the coming year. Contributions to the Cafeteria Plan must be used in the coming year as fully described in the City of Loveland Cafeteria Plan Summary Plan Description.
(Ord. 2011-80. Passed 10-11-11.)