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ORDINANCE NO. 2011-20 Page 15 Longevity Payment of For Not Less Than But Less Than 5 years 6 years $ 1,075.00 6 years 7 years $ 1,125.00 7 years 8 years $ 1,175.00 8 years 9 years $ 1,225.00 9 years 10 years $ 1,275.00 10 years 11 years $ 1,325.00 11 years 12 years $ 1,375.00 12 years 13 years $ 1,425.00 13 years 14 years $ 1,475.00 14 years 15 years $ 1,525.00 15 years 16 years $ 1,575.00 16 years 17 years $ 1,625.00 17 years 18 years $ 1,675.00 18 years 19 years $ 1,725.00 19 years 20 years $ 1,775.00 20 years 21 years $ 1,825.00 21 years 22 years $ 1,875.00 22 years 23 years $ 1,925.00 23 years 24 years $ 1,975.00 24 years 25 years $ 2,025.00 25 years or more $ 2,075.00 (d) All part-time employees of the Municipality who become full-time employees shall retain, for the purpose of computing their longevity pay, the years of service credited to their employment with the Municipality, as it currently appears on the personnel and payroll records of the Village. (e) Longevity payments will be issued once a year. Payments will be made after December 1St of each year but no later than the first paycheck in December. (f) If an employee terminates before December, his or her longevity payment will be prorated and paid with his or her final payment. 153.17 EDUCATIONAL BENEFIT. (a) All permanent full-time employees who have earned an Associate Degree relating to the field of their employment shall be entitled to additional compensation equal to two percent (2%) of their 2010 base pay. All full-time employees who have earned a Bachelor's Degree related to their field of employment shall receive additional compensation equal to four percent (4%) of their 2010 base pay. All full-time employees who have earned a Master's degree relating to the field of their employment shall be entitled to additional compensation equal to six percent (6%) of their 2010 base pay. Upon termination, an employee shall receive a