PRAIRIE ROSE TEACHERS' ASSOCIATION

EFFECTIVE PERIOD: 2014/07/01 - 2018/06/30 (EXPIRED)

ARTICLE 9: INTEREST ON BACK PAY

The Division shall pay to members of the Association interest on the net amount of any retroactive pay which may be paid to such members, calculated from the date on which the monies would have been due to the date of actual payment.  The interest shall be computed at the lesser rate of 7% per annum or the average rate of a daily savings account where the Division banks during the twelve (12) month period preceding the date of signing.