(a) (1) Pay rates in the Standard Pay Plan may be set by:
(i) a series of pay grades and steps within each grade;
(ii) fixed rates; or
(iii) minimum and maximum amounts.
(2) Pay rates in the Executive Pay Plan may be set by:
(i) a series of executive pay grades and steps within each grade;
(ii) fixed rates; or
(iii) minimum and maximum amounts.
(b) In setting or amending a pay rate, the Secretary shall consider:
(1) the prevailing pay rates for comparable services in private and public employment;
(2) experience;
(3) living costs;
(4) benefits; and
(5) the financial condition and policies of this State.
(c) A pay rate in either pay plan is subject to any limitations included in the State budget.
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