BAY de NOC COMMUNITY COLLEGE PERSONNEL POLICIES AND PROCEDURES

BAY de NOC COMMUNITY COLLEGE PERSONNEL POLICIES AND PROCEDURES

Originator: Board of Trustees

Revision Date:

Subject: Benefits

512 LONGEVITY CASH BONUS POLICY

It shall be the policy of the Bay de Noc Community College Board of Trustees to recognize employee loyalty and years of service by providing a longevity cash bonus annually to hourly employees.

PROCEDURE:

512.1 Longevity cash bonus shall be paid to hourly employees on the first payday of December each year.

512.2 Longevity cash bonuses shall be determined based upon the number of regular hours worked per year, excluding overtime, times the hourly wage to determine gross pay for the year.

512.3 Cash bonuses shall be calculated according to the following percentages:

a. After 5 years, one percent of calculated gross pay.

b. After 10 years, two percent of calculated gross pay.

c. After 15 years, three percent of calculated gross pay.

d. After 20 years, four percent of calculated gross pay.

512.4 Longevity cash bonuses shall not exceed $750 per employee.

512.5 Longevity cash bonuses shall be provided to part-time employees exceeding five years of service and 1040 hours of work each year and prorated according to the number of hours employed annually.

512.6 According to the economic condition of the college, the Board of Trustees may elect at any time to withhold or delay payment of longevity cash bonuses until such time as it is economically feasible to re-institute payment.