The District of Columbia Long Term Incentive Program for Senior Management is a comprehensive rewards system designed to attract, retain, and motivate top executives within the District government. This program aims to align the long-term interests of senior management with the overall success and performance of the District. Through this program, senior management employees are eligible to receive various incentives based on their accomplishments, contributions, and longevity within their respective positions. The program is structured to provide rewards over an extended period, ensuring that senior executives are continuously motivated to perform at their best and drive positive results. Key components of the District of Columbia Long Term Incentive Program for Senior Management include performance-based bonuses, stock options, grants, and deferred compensation. These incentives serve as a means of acknowledging and rewarding senior executives for achieving pre-established performance goals, meeting or exceeding key performance indicators, and exhibiting exceptional leadership qualities. The performance-based bonuses are directly linked to the individual's ability to meet specific target objectives, such as improving the financial health of the District, enhancing operational efficiency, implementing innovative strategies, or fostering collaboration among teams. These bonuses provide a financial incentive for senior management to go above and beyond in their roles. Stock options and grants offer senior executives the opportunity to acquire or own shares in the organization, providing them with a tangible stake in the District's success. This not only aligns their interests with those of shareholders but also encourages long-term commitment and dedication to achieving sustainable growth. In addition to immediate rewards, the District of Columbia Long Term Incentive Program for Senior Management incorporates deferred compensation, allowing executives to accumulate a portion of their earnings to be paid out at a later date in the form of retirement benefits or a lump sum payment. This offers financial security and further motivates senior management to remain with the District for an extended period, providing continuity and stability to the government. While there are not specifically named types of the District of Columbia Long Term Incentive Program for Senior Management, the program is designed to be flexible, adaptable, and reflective of the unique needs and goals of the District. It may be tailored to different departments or agencies within the government to meet their specific objectives and challenges. Overall, the program aims to attract top talent, incentivize exceptional performance, and ensure a strong leadership team for the long-term success of the District of Columbia.
District of Columbia Long Term Incentive Program for Senior Management
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Civil Service Retirement System AgeYears of ServiceType of Retirement625 or MoreVoluntaryAny Age5 or MoreDisability*5020Early Out*Any Age25Early Out2 more rows
Benefits-eligible employees include: All full-time permanent employees. Part-time permanent employees who generally work at least 30 hours per week. Employees with temporary full-time appointments of at least 13 months who are employed by agencies under authority of the Mayor.
The federal government uses incentive awards and quality step increases (QSI) to encourage employees to improve their work performance and, consequently, government operations, by recognizing work exceeding normal performance requirements.
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.
Plan, Benefits and Contact 401(a) Retirement Plan: After one year of creditable service, the District government will contribute an amount equal to 5 percent of annual base salary, 5.5 percent for Corrections Officers, to a pension account in the employee's name. For more information, call (202) 727-6055.
Management Supervisory Service | DCHR.
FERS Retirement Eligibility Types of RetirementAgeYears of ServiceOptional (Voluntary)MRA 60 6230 20 5Early Out (Voluntary)50 Any20 25Discontinued Service (Involuntary)50 Any20 25DisabilityAny18 months
401(a) Retirement Plan: After one year of creditable service, the District government will contribute an amount equal to 5 percent of annual base salary, 5.5 percent for Corrections Officers, to a pension account in the employee's name. For more information, call (202) 727-6055.