Additional Options for Retirement Clause Samples
The "Additional Options for Retirement" clause outlines supplementary choices or benefits available to an employee upon retirement beyond the standard retirement provisions. This may include options such as phased retirement, extended healthcare coverage, or the ability to convert unused leave into retirement benefits. By providing these additional options, the clause offers flexibility to retiring employees, helping them tailor their transition and benefits to better suit their individual needs and circumstances.
Additional Options for Retirement. The District will offer the following options to no more than three (3) Unit Members a year. However, the District reserves the right to offer the Retirement Options to more than three Unit Members per year based on the fiscal condition of the District. Acceptance into a retirement option program is contingent upon approval by the Board of Trustees. Retiring Unit Members may choose and participate in only one of the three programs. Unit Members wishing to participate must apply in writing no later than March 1st. Priority will be given, based on earliest notification to the District, to participate in one of the following retirement options:
1. The Retirement with Consultancy Program