(1) A full-time classified employee shall not receive an hourly rate of compensation less than six dollars and twenty-five cents ($6.25) per hour.
(2) No classified employee's hourly rate of compensation shall be reduced as a result of this subchapter.
(3) Beginning July 1, 2003, and each year thereafter, the minimum hourly rate provided in this subchapter shall be increased by a percentage equal to the percentage increase of the consumer price index.