Creditable Earnings Limitations and Changes in a Teacher’s Retirement Plan Sample Clauses

Creditable Earnings Limitations and Changes in a Teacher’s Retirement Plan. If a teacher participating in the Plan resigns prior to the date originally approved for their retirement for any reason other than death or physical or mental disability which permanently renders the teacher unable to perform their duties, the Board shall have no obligation to pay the remaining retirement enhancements which would otherwise have been due under the Plan. Additionally, the teacher shall repay to the Board all amounts of creditable earnings necessary to avoid the Board being subject to TRS penalties. Repayment shall be made by salary withholding to the extent possible, but in any event, the teacher shall make full repayment within thirty (30) days after the date of the teacher’s resignation or, if later, after the Board’s receipt of notice of penalties from TRS. If the teacher fails to make repayment when due and the Board incurs attorney’s fees to collect such repayment, through litigation or other collection efforts, the teacher shall reimburse the Board for its reasonable attorney’s fees and other costs and expenses of collection. Upon repayment, an amended creditable earnings report shall be made by the Board to TRS. If a teacher is within four years of eligibility for TRS retirement but is not ready or eligible to participate in the Plan (See Section 13.3), the teacher may avoid the limitation set forth in the last paragraph of this section
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