Common use of Application Timeline Clause in Contracts

Application Timeline. a) On or about October 1 of each fiscal year, the College will issue a call out to faculty members interested in voluntarily applying as described in a “letter of interest” sent to eligible employees. A faculty member who wishes to be considered for a retirement incentive shall do so in keeping with the procedures and dates described in the College's "letter of interest" sent to eligible faculty members. Applications received from eligible employees will be considered a standing application for the following 12 month period. b) After November 15th, applications will be processed and ranked jointly by the Parties using the criteria and calculations set out in 22.4.2 below. c) By or on December 15th, a total of five (5) FTE Retirement Incentive offers will be made to qualified applicants in rank-order. d) By or about January 15th, faculty members must either accept or decline Retirement incentive offers. A faculty member has the right to accept or decline a retirement incentive offer made by the College within the 30 days of the offer being proposed unless that period is extended or reduced by mutual agreement. No response from a faculty member offered an incentive by the deadline set out in the offer will be deemed to be a decline. e) Should the quantity of initial Incentives accepted fall below five (5) FTEs, then in rank order, subsequent offers shall be made to those qualified applicants who did not previously receive an offer to the total maximum of five (5) FTE offers. Such subsequent offers must be accepted or declined within five (5) duty days. No response to an offer within the five (5) duty days will be deemed to be a decline. f) Faculty members accepting an offer will retire on March 31st, the end of the fiscal year. All earned vacation entitlements shall be utilized prior to the date of retirement. In extenuating circumstances, a faculty member’s retirement date may be altered to a date mutually agreed upon between the faculty member and the College. g) Confirmation of the individual retirement incentive agreement shall be in writing and shall specify the retirement date, the specific dollar amount of the incentive and the payment date. The Association shall be copied on all such correspondence.