Application and Payment. 1. This retirement severance payment and the first opportunity retirement incentive payment shall be paid in one installment(s) to any teacher eligible by reason of retirement. The payment shall be made during the first month of January following the teacher’s effective date of retirement. Requests for retirement severance pay shall be made in writing to the Treasurer of the Board at the time of retirement. Prior to making such payment the Treasurer shall have evidence that the teacher to receive payment is in a status of retirement. Payment of retirement severance pay shall be considered to eliminate all sick leave credit accrued by the teacher at the time of retirement. In the event of the death of an eligible employee, severance pay as outlined in “A” above shall be issued with the final payment of accrued wages.
Appears in 4 contracts
Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
