Maine Annual Incentive Compensation Plan

State:
Multi-State
Control #:
US-CC-20-302
Format:
Word; 
Rich Text
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This sample form, a detailed Annual Incentive Compensation Plan document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.
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FAQ

For example, if an employee has 19 years and 3 months service, the payment would be 3.25% rather than 2.25%. If the employee is reinstated, the balance of the longevity payment shall be made upon completion of additional service totaling 12 months since the last full longevity payment.

Confidential employees with twenty (20) years of State service are eligible to receive an annual longevity payment of $832.00. Confidential employees with twenty-five (25) years of State service are eligible to receive an annual longevity payment of $1,040.00.

Average State of Maine hourly pay ranges from approximately $15.88 per hour for Research Assistant to $75.00 per hour for Sonographer. The average State of Maine salary ranges from approximately $42,500 per year for Security Officer to $129,456 per year for Operations Associate.

Budget Links Maine Governor Janet Mills signed the state's current services budget for fiscal 2024-2025 into law on March 31 to ensure continued operations of state government, providing for $9.8 billion in general fund spending.

Longevity pay amounts are computed by multiplying the employee's annual base salary rate as of the eligibility date by the appropriate percentage rounded to the nearest dollar in ance with the following table.

Confidential employees with twenty (20) years of State service are eligible to receive an annual longevity payment of $832.00.

Longevity pay is an entitlement based on total state service. It is paid each month in addition to base salary. Longevity was first authorized as an employee entitlement on Sept. 1, 1979.

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Maine Annual Incentive Compensation Plan