[Ord. No. 138 §§ 1—4; Ord. No. 314 § 1]
The full-time employees of the Borough shall receive a longevity
increment in addition to their base salary or compensation to the
extent that they qualify under the terms and conditions of the longevity
plan hereinafter set forth.
a. Longevity shall accrue at the rate of one-half of one (.005%) percent
of current base salary per service year. This longevity increment
shall be on an annual basis beginning on January 1st in the year after
the employees' service anniversary occurs. However, no such increment
shall be paid until the employee shall have accrued five years of
longevity; as of January 1st following the employee's fifth anniversary
a longevity increment equal to two and one-half (2 1/2%) percent
of annual base salary shall be paid to the employee as an addition
to salary.
b. No longevity shall accrue after the employee's twentieth (20th)
service anniversary.
c. All longevity increments computed under this plan shall be rounded
off to the nearest dollar. If the fraction is exactly 50/100, the
higher dollar shall be used.
d. Only full-time employees of the Borough shall receive a longevity
increment in addition to their base salary or compensation to the
extent that they qualify under the terms and conditions of the longevity
plan hereinafter set forth.