20-162L 20-162L . . . Long Term Incentive Program For Senior Management under which Compensation Committee may award (a) stock appreciation rights and (b) performance share units. Performance share units entitle holder to receive cash payment equal to (i) average market price of one share of corporation common stock during December ("Measuring Month") in third calendar year following year in which award is made, plus (ii) aggregate dividends with respect to one share of corporation common stock from January 1 of year in which award is made until last day of Measuring Month. At maturity, number of units initially awarded shall be (i) multiplied by fraction that corresponds to average annual percentage increase or decrease in book value per share of corporation common stock over four year period prior to maturity, and (ii) then further adjusted based on ratio of market value of corporation common stock to its book value as compared to that of comparable electric utility companies
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.