(a) A longevity pay premium is hereby established for all full-time employees of the Municipality so that the employees shall have an incentive for remaining in such employment.
(b) The following are the eligibility requirements for such longevity pay premium:
(1) All full-time employees who regularly work all of the working hours required by the Municipality as normal working hours for such employees.
(2) The anniversary date of the last continuous employment in such Municipal work shall be the date used in determining eligibility for longevity pay.
(3) All service, regardless of the departments involved, rendered for or on behalf of the Municipality shall be used in arriving at the eligibility.
(4) The employee must have a minimum of five years of continuous full-time service to be eligible.
(c) The longevity pay premiums are as follows:
Minimum of five years continuous service $ 250.00
Each year after five years, per year additional 75.00
Maximum, after twenty years continuous service 1,375.00
(d) In no event will the longevity pay premium of any employee exceed ten percent of his or her annual rate of compensation. The anniversary date shall be used for determining the rate of premium. Any interruption in the service of an employee, except for allowed vacation, holidays, sick leave, disciplinary suspension and/or an authorized leave of absence, shall be deemed a termination of such employee’s tenure in office for the purpose of determining his or her eligibility for longevity pay. The longevity payment shall be made as of the date of the first regular pay period in December of each year. An employee whose employment with the Village ends prior to their anniversary date is not entitled to longevity pay for that year. An employee that leaves Village employment on or after their anniversary date but before the first regular pay period in December for the year shall be remitted their earned longevity payment at the time of the first regular pay period after their separation from Village employment.
(Ord. 1994-75. Passed 12-14-94; Ord. 2000-84. Passed 8-9-00; Ord. 2005-65. Passed 12-14-05; Ord. 2015-97. Passed 12-30-15.)