"Signing Bonus Individual Agreement Form" - Colorado

Signing Bonus Individual Agreement Form is a legal document that was released by the Colorado Department of Military and Veterans Affairs - a government authority operating within Colorado.

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Download "Signing Bonus Individual Agreement Form" - Colorado

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Department of Military & Veterans Affairs
Policy Statement
Policy Title:
Signing Bonus Pay Differential
Source:
Human Resources
Effective Date:
January 1, 2008
Approved By:
William Robinson, Deputy Director
Replaces:
None
Applies to:
All State Personnel and Supervisors of State Personnel
A. Introduction
B. Definition
A signing bonus is a non-base building lump sum that may be used to attract new employees to
the Department of Military & Veterans Affairs to fill positions in critical occupations where
there is a documented shortage in the labor market and recruitment or retention difficulty in the
agency that jeopardizes its mission; or the applicant possesses a unique, critical skill in relation
to the job market.
C. Policy
DMVA will limit signing bonuses to a maximum of $1,000 and will be non-base building.
Payment of signing bonuses will be made in two separate payments. Fifty percent of the signing
bonus will be paid in the first pay period of employment. The other half will be paid upon
certification of the employee (one year). Employees receiving a signing bonus must sign a
written agreement that specifies no PERA contribution will be made on the signing bonus, that
the signing bonus cannot be used for computing overtime pay, and allows for forfeit or
repayment if the employee leaves prior to completion of one year of service.
D. Procedures
 Determine if position qualifies for a Signing Bonus Pay Differential.
 Prepare a memorandum to your Division Head with justification for a Signing Bonus Pay
Differential, possible impacts on current departmental employees, and explanation of
where and how this differential will be funded.
 Complete the Signing Bonus Individual Agreement, refraining from acquiring the
employee’s signature until all approval signatures have been received.
Department of Military & Veterans Affairs
Policy Statement
Policy Title:
Signing Bonus Pay Differential
Source:
Human Resources
Effective Date:
January 1, 2008
Approved By:
William Robinson, Deputy Director
Replaces:
None
Applies to:
All State Personnel and Supervisors of State Personnel
A. Introduction
B. Definition
A signing bonus is a non-base building lump sum that may be used to attract new employees to
the Department of Military & Veterans Affairs to fill positions in critical occupations where
there is a documented shortage in the labor market and recruitment or retention difficulty in the
agency that jeopardizes its mission; or the applicant possesses a unique, critical skill in relation
to the job market.
C. Policy
DMVA will limit signing bonuses to a maximum of $1,000 and will be non-base building.
Payment of signing bonuses will be made in two separate payments. Fifty percent of the signing
bonus will be paid in the first pay period of employment. The other half will be paid upon
certification of the employee (one year). Employees receiving a signing bonus must sign a
written agreement that specifies no PERA contribution will be made on the signing bonus, that
the signing bonus cannot be used for computing overtime pay, and allows for forfeit or
repayment if the employee leaves prior to completion of one year of service.
D. Procedures
 Determine if position qualifies for a Signing Bonus Pay Differential.
 Prepare a memorandum to your Division Head with justification for a Signing Bonus Pay
Differential, possible impacts on current departmental employees, and explanation of
where and how this differential will be funded.
 Complete the Signing Bonus Individual Agreement, refraining from acquiring the
employee’s signature until all approval signatures have been received.
 Submit all documentation to the Human Resource Director for presentation to the
Appointing Authority.
 Upon approval and signatures from the Appointing Authority, discuss the compensation
package as well as the Signing Bonus terms and conditions with the potential employee,
and obtain candidate’s signature. Return all documents to Human Resources for
processing.
 Human Resources will file the original agreement in employee’s personnel file.
E. Compliance
Department of Military & Veterans Affairs
Signing Bonus Individual Agreement
The Department of Military & Veterans Affairs agrees to pay a signing bonus to the employee
listed below for accepting the position as indicated. This bonus shall be made to the employee in
two equal payments. The first within the first month of hire, and the second after successful
completion of the probationary period. Regular personnel rules and procedures apply. The
employee understands that the bonus is not part of base pay and will be paid through regular
payroll, and is not included in salary calculations for retirement (PERA) and overtime purposes,
if non-exempt. It is further understood that the signing bonus, in combination with base pay,
cannot exceed the statutory lid which may necessitate paying the bonus in monthly installments.
The second payment is forfeited if the employee fails to report to work, is no longer in the
position to which hired, or performance is not satisfactory.
It is understood that no aspect of this bonus is grievable or appealable, except for discrimination.
Employee Name: _______________________________________________________________
Employee Position Title: _____________________________________ Position Number: _____
Department: ___________________________________________________________________
The entire bonus is: $____________________________________________________________
The signing bonus will be paid in two equal payments:
 $__________(50%) of the bonus will be paid on _________________________(the first
regularly scheduled pay date after employment begins); and
 $__________(50%) of the bonus will be paid upon successful completion of the
employee’s probationary period (minimum of one year).
The Signing Bonus shall be paid out of account: ______________________________________
The terms and conditions have been discussed with the employee. The employee understands
and agrees to these terms and conditions.
____________________________ ________
___________________________ ________
Supervisor Signature
Date
Controller’s Signature
Date
____________________________ ________
___________________________ ________
Division Administrator Signature
Date
Appointing Authority Signature
Date
____________________________ ________
___________________________ ________
Budget Administrator Signature
Date
Candidate Signature
Date
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