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<br />7 <br /> <br />Effective August 24, 2026, there will be a three percent (3%) cost of living <br />adjustment for all classifications represented by the bargaining unit. <br /> <br />Effective February 27, 2023, there will be a three percent (3%) cost of living <br />adjustment for all classifications represented by the bargaining unit. <br /> <br />Effective February 27, 2023, there will be a one and one-half percent (1.5%) <br />equity adjustment for all classifications represented by the bargaining unit. <br /> <br />Effective February 27, 2023, there will be a three percent (3%) cost of living <br />increase for all classifications represented by the bargaining unit. <br /> <br />Effective February 27, 2023, the City will pay each full time employee in <br />the bargaining unit who is in full paid status as of the date of payment, a <br />lump sum amount equal to the equivalent of: <br />A. A three percent (3%) cost of living adjustment between August 30, 2021 <br />and February 26, 2023, based on actual hours worked for each individual <br />employee, including overtime and holiday pay for Juneteenth, 2022; <br />B. A one and one-half percent (1.5%) equity adjustment between August 30, <br />2021 and February 26, 2023, based on actual hours worked for each <br />individual employee, including overtime and holiday pay for Juneteenth, <br />2022; and <br />C. A three percent (3%) cost of living adjustment between September 11, 2022 <br />and February 26, 2023, based on actual hours worked for each individual <br />employee, including overtime; <br /> <br />The lump sum payments are a non-discretionary incentive to ratify the <br />agreement. It is the intent of the parties that the lump sum payment will not <br />be treated as salary or wages, as the payments are not provided as <br />compensation for hours of employment or longevity pay. The lump sum <br />payment will not be included in overtime/regular rate of pay calculations, <br />will not be treated as pensionable compensation, and there will be no roll <br />up effect of the lump sum payment. The City will withhold taxes from lump <br />sum payments in accordance with federal and state requirements. The lump <br />sum payments will be paid by separate check. <br /> <br />7.1.2 Effective the first full pay period in September 2023 2025 (September 8, <br />202511, 2023), employees represented by the Association shall receive an <br />annual market adjustment salary increase as determined byrequired to bring <br />the Police Officers to the mean or the median, whichever is greater, <br />reflected in a total compensation salary survey study conducted by the City. <br /> <br /> For 2023 2025 only, the market adjustment salary increase shall be a <br />minimum of two and one-halfthree percent (3%2.5%) and a maximum of <br />five percent (5%). The total compensation survey shall be prepared as <br />follows, unless otherwise agreed to by the parties: <br /> <br />6.I. - Page 19 of 84 <br />249