20-221D 20-221D . . . Stock Bonus Plan Board of Directors has authority to determine which key employees shall be awarded stock bonuses, amounts of bonuses, number of shares of common stock to be awarded, and all other terms and provisions of each bonus. Bonus awards are based on attainment of specified types and combinations of performance measurement criteria, which may differ as to various employees
Virginia Executive Bonus Plan
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Multi-State
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US-CC-20-221D
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The bonus will be paid in two equal installments, the first in October 2023 to employees continuously employed since July 1, 2023, and the second in April 2024 to employees continuously employed since October 1, 2023.
Out of 111,704 state employees and 221 agencies, the median salary for a state employee was $62,038. Ronald Schmitz, a chief investment officer with the Virginia Retirement System, was the state's highest paid employee in 2022, earning $1,014,140.
$54.6 million from the General Fund to give teachers and other school staff a 2% raise starting on January 1, 2024. This is on top of the 10% raise for teachers that the Governor proposed last year.
The budget also includes a 2% pay raise for teachers and state employees, including state-supported positions, adjunct faculty and teaching assistants at public colleges and universities. The raise comes on top of the 5% raise lawmakers approved in each year of the current two-year budget that ends June 30, 2024.
1., V., and W., up to $66,517,107 the first year from the general fund shall be used to provide a one-time bonus payment of $1,000 on December 1, 2022 to all classified employees of the Executive Branch and other full-time employees of the Commonwealth, except elected officials, who were employed on or before August 10 ...
The cost of such increases for wage employees shall be borne by existing funds appropriated to each agency. eligible for the five percent salary increase. (Statewide and NOVA) by five percent on June 10, 2023.
School districts must match the 2% increase to access the funds for the raises. It also includes $115 million for 2% pay raises for state employees, including university workers, adjunct faculty, teaching assistants, state-supported local employees and Standards of Quality funded positions.
