District of Columbia Director Incentive Compensation Plan

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US-CC-18-276
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18-276 18-276 . . . Director Incentive Compensation Plan under which eligible directors are granted automatic, nondiscretionary annual awards of 100 shares of common stock to each eligible director at no cost to director upon election or re-election by stockholders. The Board may amend award formula to no greater than 500 shares per year per director

The District of Columbia Director Incentive Compensation Plan is an organized framework designed to attract and retain highly skilled individuals to serve as directors of various departments and agencies within the District of Columbia government. This plan aims to incentivize directors by providing them with performance-based compensation. Under the District of Columbia Director Incentive Compensation Plan, directors are offered competitive salary packages, which include a baseline salary and the opportunity to earn additional compensation through performance incentives. The performance incentives are directly tied to the achievement of predetermined goals and objectives that align with the strategic priorities of the department or agency. There are different types of District of Columbia Director Incentive Compensation Plans, tailored to specific departments and agencies within the District. The names of these plans may vary depending on the department or agency, but they all share a common goal of rewarding directors for their exceptional performance. Some examples of specific District of Columbia Director Incentive Compensation Plans include: 1. District of Columbia Department of Education Director Incentive Compensation Plan: This plan is designed to incentivize directors of education programs to improve student achievement, increase graduation rates, and implement effective teaching strategies. 2. District of Columbia Department of Health Director Incentive Compensation Plan: This plan aims to reward directors in the healthcare field for improving health outcomes, reducing healthcare costs, and enhancing access to quality healthcare services for residents of the District. 3. District of Columbia Department of Transportation Director Incentive Compensation Plan: This plan focuses on motivating directors in the transportation sector to improve infrastructure, enhance public transportation systems, and ensure safe and efficient transportation options for residents and visitors. 4. District of Columbia Department of Economic Development Director Incentive Compensation Plan: This plan encourages directors in the economic development field to attract businesses, increase job opportunities, and foster sustainable economic growth within the District. Each of these District of Columbia Director Incentive Compensation Plans is carefully designed to align the performance of directors with the overall goals and objectives of their respective departments or agencies. By offering attractive compensation packages and linking compensation to performance, the District of Columbia aims to ensure the recruitment and retention of highly qualified individuals who can drive positive change and innovation within the government.

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Quality salary increases are awarded in addition to regular within-grade increases. A quality salary increase may be authorized only once within a 12-month period. A quality salary increase shall not impact an employee's waiting period for a regular within-grade increase.

Since this percentage is above the 3% cap applicable to police officers and firefighters hired on or after November 10, 1996, and their survivors, their COLA effective March 1, 2023 is 3.0%.

Each paycheck shows your most recent LEI. LEI shows when you received your most recent Within Grade Increase (WGI); WGIs occur every year for Steps 1-5 and every two years for Steps 6-10.

News for 2024 GS Pay Scale: NEW: White House Formalizes 2024 Federal Pay Raise - The across-the-board base pay increase will be 4.7 percent and locality pay increases will average 0.5 percent, resulting in an overall average increase of 5.2 percent more?

For additional information, call 202-442-9700 or send an email to verifications.dchr@dc.gov.

100 percent employer funded: 5 percent of the base salary (5.5 percent for Corrections Officers) beginning the first pay period after one year of service. Must have one year of continuous service to participate; fully vested in the Defined Contribution Pension Plan after five years of continuous service.

The legislation, approved by DC Council on July 12, authorizes a retroactive cost of living increase of 1.5% for Fiscal Year 2022, a 3.5% one-time, retroactive bonus for Fiscal Year 2022, and a 2.5% cost of living increase for Fiscal Year 2023.

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District of Columbia Director Incentive Compensation Plan