Re: Pay Raise
Author: Dr Zarkoff
Date: 09-19-2022 - 13:10
> The proposed new contract has a 24% raise over 5 years. The last contract expired 3 years? ago.
> Will the employees receive back pay based on the raise put forth for the first year of the new contract?
"Back pay" applies to the period of time spent working under the old contract after it had expired.
> Will the retro-active back pay be paid out in a lump sum payment and how long after ratification would the payment be made?
"Retro-active back pay" is a redundancy in terms. Details of the payment process can be found in the "new" agreement.
> Finally, not being specific, what would be a ballpark figure of the amount of back pay one might receive,
The amount of back pay is based on an employee's earnings during the time period in question, which means the amount will vary from employee to employee.
> if they had enough years in to retire as soon as the back pay were put forth?