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

Creditable Earnings Limitations and Changes in a Teacher’s Retirement Plans. If a teacher participating in the Benefit resigns prior to the date originally approved for his/her retirement for any reason other than physical or mental disability which permanently renders the teacher unable to perform his/her duties, the Board will have no obligation to pay the remaining retirement enhancements which would otherwise have been due under the Benefit. Additionally, the teacher will repay to the Board all amounts of creditable earnings necessary to avoid, or which would have avoided, the Board being subject to TRS penalties. Repayment will be made by salary withholding to the extent possible, but in any event, the teacher will 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 will reimburse the Board for its reasonable attorney’s fees and other costs and expenses of collection. Upon repayment, an amended creditable earnings report will be made by the Board to TRS. Finally, the Board will pay to the teacher before retirement one dollar ($1.00) for each of the sick leave days provided for in subparagraph D. above that was not used, which days will then not be reported to TRS and for which the teacher will not seek service credit from TRS. If a teacher participating in the Benefit or a member of the teacher’s immediate family becomes ill or injured, resulting in the teacher’s use of sick leave which then subjects the teacher to a discounted pension, the teacher may request, and the Board, in its sole discretion, may grant an extension of the retirement date by a minimum of one (1) school term. If a teacher participating in the Benefit begins to receive the Benefit and a catastrophic life event (such as the death or serious illness of a spouse) causes the teacher to request to continue teaching in the District and the Board, in its sole discretion, accepts such request, the Board will not be obligated to continue payment of the Benefit. The teacher will then repay the entire amount of the Benefit paid to date. Such repayment may either be made in one lump sum or through a series of deductions from the teacher’s salary, with final repayment to be made by the date which reflects the length of time the teacher received the retirement enhancement (i.e., a teacher who r...
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Related to Creditable Earnings Limitations and Changes in a Teacher’s Retirement Plans

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Public Employees Retirement System “PERS”) Members.

  • Probation for Newly Hired Employees (a) The Employer may reject a probationary employee for just cause. A rejection during probation shall not be considered a dismissal for the purpose of Article 11.2

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION [Not applicable in School District No. 62 (Sooke)]

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

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