Common use of Buy Out of Prior Agreement’s Retirement Benefits Clause in Contracts

Buy Out of Prior Agreement’s Retirement Benefits. 1. Elimination of Prior Agreement’s Retirement Bridge and Severance Benefit - the Board and the Association specifically reserved the authority to revise or terminate the benefits contained in earlier agreements. Exercising this authority, the Board and the Association now confirm that Section G. Retirement Bridge Program described in same of the prior agreement is terminated and shall not apply to any teacher retiring or severing employment after the first day of the 2004-05 school year, except as otherwise specifically provided in this Section. Those teachers who retired or severed employment before the effective date shall only be entitled to the retirement benefits contained in the prior agreement as of the time of his or her retirement, but may be otherwise revised from time to time.

Buy Out of Prior Agreement’s Retirement Benefits. 1. A. Elimination of Prior Agreement’s Retirement Bridge and Severance Benefit - the The Board and the Association specifically reserved the authority to revise or terminate the benefits contained in earlier agreements. Exercising this authority, the Board and the Association now confirm that Section G. Article X Retirement Bridge Program Benefit described in same of the prior agreement is terminated and shall not apply to any teacher retiring or severing employment having announced his/her retirement after the first 1st day of the January 2004-05 school year, except as otherwise specifically provided in this SectionArticle. Those teachers who retired or severed employment before the effective date shall only be entitled to the retirement benefits contained in the prior agreement as of the time of his or her retirement, but may be otherwise revised from time to time.

Buy Out of Prior Agreement’s Retirement Benefits. 1. Elimination of Prior Agreement’s Retirement Bridge and Severance Benefit - Benefit- the Board and the Association specifically reserved the authority to revise or terminate the benefits contained in earlier agreements. Exercising this authority, the Board and the Association now confirm that Section G. Retirement Bridge Program described in same of the prior agreement is terminated and shall not apply to any teacher retiring or severing employment after the first day of the 2004-2004- 05 school year, except as otherwise specifically provided in this Section. Those teachers who retired or severed employment before the effective date shall only be entitled to the retirement benefits contained in the prior agreement as of the time of his or her retirement, but may be otherwise revised from time to time.

Buy Out of Prior Agreement’s Retirement Benefits. 1. Elimination of Prior Agreement’s Retirement Bridge and Severance Benefit - the Board and the Association specifically reserved the authority to revise or terminate the benefits contained in earlier agreements. Exercising this authority, the Board and the Association now confirm that Section G. Retirement Bridge Program described in same of the prior agreement is terminated and shall not apply to any teacher retiring or severing employment after the first day of the 2004-2004- 05 school year, except as otherwise specifically provided in this Section. Those teachers who retired or severed employment before the effective date shall only be entitled to the retirement benefits contained in the prior agreement as of the time of his or her retirement, but may be otherwise revised from time to time.