Common use of Amount of Retirement Entitlement Clause in Contracts

Amount of Retirement Entitlement. A. The amount of money and other benefits received related to retirement will be determined by the unit member’s average full time equivalency (FTE) over the last 10 years of the unit member’s licensed, active service with the North Clackamas School District (see table above). B. In the event at the time of retirement a member’s FTE has been involuntarily reduced (i.e. due to reduction in force), the rate of benefits received shall be determined by the member’s FTE prior to the involuntary reduction. C. A unit member seeking the retirement stipend must submit a Separation of Employment form requesting the retirement stipend to a Human Resources administrator as soon as possible, and no later than 60 calendar days prior to the retirement date if during the school year, or April 1 if at the end of the school year, unless an exception is made by the Board. After retirement, a retiree will remain eligible for substitute employment with the district. A member who retires during a school year may apply to complete the year for him/herself. Reappointment to the member’s former position is at the discretion of the district. D. This retirement stipend expires 10 days prior to the expiration of this agreement. If the district is considering discontinuing the retirement stipend, it shall notify the Association six months prior to expiration of this agreement. X. The member’s account balance will not accrue interest for the member.

Amount of Retirement Entitlement. A. The amount of money and other benefits received related to retirement will be determined by the unit member’s average full time equivalency (FTE) over the last 10 years of the unit member’s licensed, active service with the North Clackamas School District (see table above). B. In the event at the time of retirement a member’s FTE has been involuntarily reduced (i.e. due to reduction in force), the rate of benefits received shall be determined by the member’s FTE prior to the involuntary reduction. C. A unit member seeking the retirement stipend must submit a Separation of Employment form requesting the retirement stipend to a Human Resources administrator as soon as possible, and no later than 60 calendar days prior to the retirement date if during the school year, or April 1 if at the end of the school year, unless an exception is made by the Board. After retirement, a retiree will remain eligible for substitute employment with the district. A member who retires during a school year may apply to complete the year for him/herself. Reappointment to the member’s former position is at the discretion of the district. D. This retirement stipend expires 10 days prior to the expiration of this agreement. If the district is considering discontinuing the retirement stipend, it shall notify the Association six months prior to expiration of this agreement. X. E. The member’s account balance will not accrue interest for the member.

Amount of Retirement Entitlement. A. The amount of money and other benefits received related to retirement will be determined by the unit member’s average full time equivalency (FTE) over the last 10 years of the unit member’s licensed, active service with the North Clackamas School District (see table above). B. In the event at the time of retirement a member’s FTE has been involuntarily reduced (i.e. due to reduction in force), the rate of benefits received shall be determined by the member’s FTE prior to the involuntary reduction. C. A unit member seeking the retirement stipend must submit a Separation of Employment form requesting the retirement stipend to a Human Resources administrator as soon as possible, and no later than 60 calendar days prior to the retirement date if during the school year, or April 1 if at the end of the school year, unless an exception is made by the Board. After retirement, a retiree will remain eligible for substitute employment with the district. A member who retires during a school year may apply to complete the year for him/herselfthemselves. Reappointment to the member’s former position is at the discretion of the district. D. This retirement stipend expires 10 days prior to the expiration of this agreement. If the district is considering discontinuing the retirement stipend, it shall notify the Association six months prior to expiration of this agreement. X. The member’s account balance will not accrue interest for the member.