The District of Columbia (D.C.) Executive Bonus Plan is a comprehensive incentivized compensation program designed for high-level executives working within the District's government. This strategic approach aims to motivate and retain skilled professionals who play a critical role in the successful implementation of government policies and programs. The plan encourages optimal performance, fostering accountability, and driving innovation among top executives. Keywords: 1. District of Columbia Executive Bonus Plan 2. Incentivized compensation program 3. High-level executives 4. Motivation and retention 5. Skilled professionals 6. Government policies and programs 7. Optimal performance 8. Accountability 9. Innovation The District of Columbia Executive Bonus Plan comprises various types, each catering to specific executive roles and responsibilities, ensuring that the right individuals are rewarded appropriately. Here are a few notable variations: 1. Leadership Excellence Bonus: This bonus plan targets executives who consistently demonstrate exceptional leadership skills and excellence in their decision-making. It aims to reward those who go above and beyond regular expectations, driving positive change within their respective departments and the overall government setting. 2. Performance-Based Bonus: Emphasizing measurable performance criteria and objectives, this plan awards executives based on their ability to achieve predefined targets within specified time frames. These targets can be related to budget management, successful project implementations, or innovative solutions that yield significant benefits to the government and its constituents. 3. Recruitment and Retention Incentives: To attract and retain highly skilled executives, this specific bonus plan offers competitive incentives to individuals joining the District's government or those staying for an extended period. By offering enticing compensation packages, the District ensures that talented executives see the value and rewards of dedicating their expertise and leadership to public service within the region. 4. Divisional/Departmental Performance Bonus: This bonus plan focuses on rewarding executives who excel in their respective divisions or departments by achieving exceptional outcomes specific to their areas of responsibility. By recognizing outstanding performance within a structured hierarchy, this plan promotes healthy competition among executives and drives overall organizational success. 5. Long-Term Incentive Plan: As a means to encourage executive commitment to the District's long-term vision and goals, this plan includes incentives designed to reward longevity and sustained performance over an extended period. These incentives can be in the form of stock options, deferred compensation, or similar arrangements, aligning the executives' interests with the long-term growth and success of the District of Columbia. In conclusion, the District of Columbia Executive Bonus Plan is a multifaceted compensation program aimed at motivating, rewarding, and retaining high-level executives within the District's government. Through various types of bonus plans, this comprehensive strategy recognizes exceptional leadership, performance, recruitment, and long-term commitment to drive continuous improvement and success in government operations.
District of Columbia Executive Bonus Plan
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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.
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.
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.
Under the plan, you make contributions to the plan by agreeing to defer a dollar or percentage amount from your salary. Your deferrals can be made on a pre-tax basis, and all earnings are tax deferred until benefits are distributed to you. You also have the opportunity to make after-tax Roth deferrals.
For additional information, call 202-442-9700 or send an email to verifications.dchr@dc.gov.
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.