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<br />6 <br /> <br /> <br />Effective August 26, 2024, there will be a three percent (3%) cost of living <br />adjustment for all classifications represented by the bargaining unit. An employee <br />must be in full paid status for the entire applicable pay period in which the <br />adjustment is implemented to be eligible to receive the retroactive payment. <br /> <br />Eligible employees will receive the following retention incentives: <br />x $5,000 effective the second full pay period in February 2025 <br />x $5,000 effective the second full pay period in February 2026 <br />An employee must be in full paid status for the entire applicable pay period listed <br />above to be eligible for the retention incentive. <br /> <br />The lump sum payments will not be treated as pensionable compensation. The City <br />will withhold taxes from lump sum payments in accordance with federal and state <br />requirements. <br /> <br />Effective August 25, 2025, there will be a three percent (3%) cost of living <br />adjustment for all classifications represented by the bargaining unit. <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 />Lump Sum Ratification Payments <br />On July 14, 2023, the City will pay each full time employee in the bargaining unit <br />who is in full paid status as of the date of payment, a lump sum amount equal to <br />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; <br />B. A one and one-half percent (1.5%) equity adjustment between August <br />30, 2021 and February 26, 2023, based on actual hours worked for each individual <br />employee, including overtime; and <br />C. A three percent (3%) cost of living adjustment between September 11, <br />2022 and February 26, 2023, based on actual hours worked for each individual <br />employee, including overtime; <br /> <br />In addition to the above, on July 14, 2023, each full time employee in the <br />bargaining unit who is in full paid status as of the date of payment will receive a <br />lump sum amount equal to four thousand, six hundred, ninety-six dollars and <br />twenty-four cents ($4,696.24). <br /> <br />The lump sum payments are a non-discretionary incentive to ratify the one-year <br />MOU extension. 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 compensation <br />for hours of employment or longevity pay. The lump sum payment will not be <br />included in overtime/regular rate of pay calculations, will not be treated as <br />pensionable compensation, and there will be no roll up effect of the lump sum <br />payment. The City will withhold taxes from lump sum payments in accordance <br />with federal and state requirements. The lump sum payments will be paid by <br />separate check. <br /> <br />6.H. - Page 14 of 72 <br />356