After updating one or more rates in a salary schedule, you must run a process to update the salaries for those people affected. To do so, use the Annual Salary Updates section in the Fiscal menu. Use the Quick Search or Advanced Search to find the select people and then click on the Simple Current Salary Update.
(TIP: If you have only changed one salary schedule, use the Advanced Search and select just that salary schedule in the Job/Contracts area to find the people affected by the change.)