Common use of Service Benefit Clause in Contracts

Service Benefit. Upon qualified separation from employment with the City, employees shall be paid the sum of the following in recognition of years of service to the City of ▇▇▇▇▇▇ Island: A. $17,412.63 plus; B. The applicable amount from the following table: Years of Service Amount for 2025 Up through 14 years $0 15 - 19 years $4,487.82 20 - 24 years $6,736.46 25 - 29 years $10,105.08 30 years and above $12,347.62 The amounts set forth in Parts A and B shall be adjusted upwards annually in an amount equal to 100% of the cost of living. The cost-of-living index in Article 5.1 of the Agreement shall be used.

Service Benefit. Upon qualified separation from employment with the City, employees shall be paid the sum of the following in recognition of years of service to the City of ▇▇▇▇▇▇ Island: A. $17,412.63 $ plus; B. The applicable amount from the following table: Years of Service Amount for 2025 Up through 14 years $0 15 - 19 years $4,487.82 $ 20 - 24 years $6,736.46 $ 25 - 29 years $10,105.08 $ 30 years and above $12,347.62 $ The amounts set forth in Parts A and B shall be adjusted upwards annually in an amount equal to 100% of the cost of living. The cost-of-living index in Article 5.1 of the Agreement shall be used.

Service Benefit. Upon qualified separation from employment with the City, employees shall be paid the sum of the following in recognition of years of service to the City of ▇▇▇▇▇▇ Island: A. $17,412.63 13,789.17 plus; B. The applicable amount from the following table: Years of Service Amount for 2025 Up through 14 years $0 15 - 19 years $4,487.82 3,553.93 20 - 24 years $6,736.46 5,334.12 25 - 29 years $10,105.08 8,002.27 30 years and above $12,347.62 9,778.15 The amounts set forth in Parts A and B shall be adjusted upwards annually in an amount equal to 100% of the cost of living. The cost-of-living index in Article 5.1 of the Agreement shall be used.