Montana Proposal to Approve Directors' Compensation Plan with copy of plan

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Multi-State
Control #:
US-CC-14-175M
Format:
Word; 
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Description

This is a detailed model Directors' Deferred Compensation Plan under which common stock is issued to each outside director in payment of one-half of director's annual retainer fee. Adapt to fit your specific facts and circumstances. Don't reinvent the wheel, save time and money.
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  • Preview Proposal to Approve Directors' Compensation Plan with copy of plan
  • Preview Proposal to Approve Directors' Compensation Plan with copy of plan

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FAQ

The pay plan calls for either $1.50-an-hour or 4% raises, whichever is greater, for state and Montana University System employees this year and next, effective July 1 of each year.

"2-18-303. (3) Effective on the first day of the first complete pay period that includes November 15, 2022 July 1, 2023, the base salary of each employee must be increased by 55 cents $1.50 an hour or by 4%, whichever is greater.

A break in service (termination of employment greater than five consecutive days) ends longevity pay and restarts the accrual process. State of Montana payroll is processed on a bi-weekly cycle. Pay periods end every other Friday, with each payday 12 days later on the second Wednesday following the end of a pay period.

A BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING LAWS GOVERNING STATE EMPLOYEE COMPENSATION; APPROPRIATING FUNDS TO IMPLEMENT PAY REVISIONS AND PER DIEM ADJUSTMENTS; REVISING STATE EMPLOYEE PER DIEM RATES; PROVIDING THAT STATE EXECUTIVE BRANCH OFFICES ARE OPEN ON STATE GENERAL ELECTION DAYS; ELIMINATING STATE ...

All parties are pleased to have bargained a pay plan proposal which promises to deliver for the State of Montana's workforce. The agreement includes a $1.50 per hour or 4% raise?whichever is greater?on July 1 each year of the upcoming biennium.

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Montana Proposal to Approve Directors' Compensation Plan with copy of plan