Page 173 - 2016-2021-OSU
P. 173

Each additional year of service will result in a $600 increase per year to a

        maximum  of  $15,000.  However,  employees  in  the  following categories

        will receive the amount specified if that amount exceeds that which would
        be otherwise payable:


           One year of service, but                        4 Weeks of Base Pay

           less than three years of
           service.


           Three years of service, but                     6 Weeks of Base Pay

           less than five years of
           service.


           Five years of service, but                      8 Weeks of Base Pay

           less than ten years of
           service.


           Ten years of service, but                       10 Weeks of Base Pay

           less than fifteen years of
           service.



           Fifteen years of service, but                   12 Weeks of Base Pay
           less than twenty years of
           service.



           Twenty or more years                            14 Weeks of Base Pay
           of service.


           b. Affected employees 50 years of age or over may choose the schedule

        in (a) above or the following at their option:
           •  employees with 10 years of service, but less than 15 are eligible to

        receive 20 percent of base annual salary;

           •  employees with 15 years of service, but less than 20 are eligible to
        receive 30 percent of base annual salary;

           •  employees with 20 years of service, but less than 25 are eligible to
        receive 40 percent of base annual salary;




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