Annual salaries determined in accordance with the provisions of this collective agreement shall be paid on the basis of one-twelfth (1/12th) of the annual salary payable for each month, September to August.
It is understood and agreed upon by the parties to this agreement that the July and August salary payments shall be deemed to have been earned in the immediately preceding school year.
Salaries shall be paid by direct deposit in the teacher’s personal account at the financial institution of his/her choice on the last teaching day of the month or last business day in the case of July and August, including the year of resignation as of June 30th. Adjustments in salary shall be made in accordance with the following clauses.
The salary of a teacher commencing employment or returning to employment following an unpaid leave of absence other than on the first teaching day of the school year shall be calculated as follows:
a) In the first calendar month of employment, the salary to be paid shall be such fraction of the salary for the whole school year as the number of teaching days employed in that month is of the number of teaching days prescribed by the Minister for that school year.
b) Thereafter, the monthly installments shall be such fraction of the salary for the whole school year as the number of teaching days employed for the balance of the school year is of the number of teaching days prescribed by the Minister for the school year, divided by the number of months remaining to August 31st, next, or the termination of the teacher’s individual contract, whichever comes first. If a teacher is hired or returns to work after January 1st, the monthly installments shall be such fraction of the salary for the whole school year as the number of teaching days employed for the balance of the school year is of the number of teaching days prescribed by the Minister for the school year, divided by the number of months remaining to June 30th.
c) Thereafter, the teacher shall be paid in accordance with Article 10 - Payment of Salary.
If a teacher's contract shall be terminated as provided therein or if a teacher shall retire or if a teacher commences a leave of absence without pay before the end of a school year, the final salary payment shall be so adjusted that the teacher shall receive, for the part of the year taught, such fraction of the salary for the whole year as the number of days taught is of the total number of days in the current school year as prescribed by the Minister. All remaining salary as yet unpaid shall be paid to such a teacher within twenty (20) business days of the termination of employment or commencement of leave of absence.
Adjustments in salary resulting from a change in a teacher's salary entitlement pursuant to this Agreement, excluding Article 6.04, shall be calculated and paid as follows:
a) Number of teaching days in the current school year to the date of adjustment as a fraction of the total number of days in the current school year, as prescribed by the Minister, times the annual salary rate in effect for that period of time; plus
b) Number of teaching days remaining in the current school year from the date of adjustment as a fraction of the total number of days in the school year, as prescribed by the Minister, times the annual salary rate in effect for that period of time; less
c) The salary paid to the teacher from the beginning of the current school year to the date of adjustment.
d) The balance of salary payable shall be paid based on the new salary or assignment in accordance with the salary schedule in Article 7 in approximate equal monthly installments on the last teaching day, or business day in the case of July and August, for the number of months remaining to August 31st next from the date of the change with any required adjustment being made during the month of change.
e) Thereafter, the teacher shall be paid in accordance with Article 10 - Payment of Salary.
The Division shall pay to members of the Association interest on any retroactive pay which may be paid to such members, on condition that the interest shall be paid for the period of time between the date one of the parties applies for interest arbitration and the date on which any payment is subsequently paid and, in addition, will be paid only on such amounts as would have been outstanding from time to time until such time as payment is finally made.
The interest paid to each full time teacher shall be calculated on the "average net retroactive pay" determined as hereinafter provided. Such interest shall be computed at the average rate at which the Division borrows funds during the twelve (12) month period preceding the calculation date or at nine percent (9%), whichever is the lesser. Part-time teachers shall be paid interest on a prorated basis.
The "average net retroactive pay" shall be determined in accordance with the following formula:
A x B = C ÷ D = E
Where:
A = 55%, being the agreed upon percentage of net retroactive pay to gross retroactive pay.
B = total gross retroactive pay.
C = net retroactive pay.
D = number of full-time-equivalent (F.T.E.) teachers receiving retroactive pay.
E = average net retroactive pay per F.T.E. teacher.