Common use of Compensation Increases Clause in Contracts

Compensation Increases. Severance Agreements The Government Severance Pay Act (GSPA), 5 ILCS 415/10, added by P.A. 100-895, requires the following contract provisions: 1. Arestriction to an amount not exceeding 20 weeks of compensation; and 2. Aprohibition for anyseverance if the Superintendent is fired for misconduct bythe Board. See the Severance Pay row under the Changes to the Superintendent’s Employment Contract subhead below for a definition of what misconduct means in the context of this law. Teachers Retirement System How does the Board want to address: 1. Pension contributions (TRS-THIS)?

Compensation Increases. Severance Agreements The Government Severance Pay Act (GSPA), 5 ILCS 415/10, added by P.A. 100-895, requires the following contract provisions: 1. Arestriction to an amount not exceeding 20 weeks of compensation; and 2. Aprohibition for anyseverance if the Superintendent is fired for misconduct bythe Board. See the Severance Pay row under the Changes to the Superintendent’s Employment Contract subhead below for a definition of what misconduct means in the context of this law. Teachers Retirement System How does the Board want to address: 1. Pension contributions (TRS-THIS)?: