Commencement of Distributions/Payments. Vesting shall not be synonymous with the term “payable” or any other term describing a right to receive the amount that vests. A teacher may have a vested right to an amount that is not payable at the time of vesting.
Commencement of Distributions/Payments a. Subject to any limitations described herein, vested Retirement Severance Benefits of a retiring teacher shall generally be contributed and/or otherwise be available for distribution within sixty (60) days following the end of the school year in which the teacher retires or within a reasonably practicable time thereafter.
Commencement of Distributions/Payments. Vesting shall not be synonymous with the term "payable" or any other term describing a right to receive the amount that vests. A bargaining unit member may have a vested right to an amount that is not payable at the time of vesting.
