Determination of Daily Rate. The teacher’s daily rate of pay will be the daily rate at the time of retirement, as provided in the salary schedule for the school year, and will not include any additional compensation for extracurricular activities, extended employment or other extra compensation.
Determination of Daily Rate. In applying these provisions, a teacher's daily rate of pay will be the basic daily rate at the time of retirement, as provided in the basic salary schedule for the basic school year, and will not include any additional compensation for extracurricular activities, extended employment or other extra compensation. Subd. 5. Payment Schedule 50-54: A teacher who retires at age 50-54 will receive their retirement incentive pay on July 20th if their birth date is between January 1st and June 30th in the year, they reach age 55. If their birth date is between July 1st and December 31st, they will receive their incentive pay on January 20th of the following year.
Determination of Daily Rate. In applying these provisions, an employee’s daily rate of pay will be the basic daily rate at the time of retirement, as provided in the basic salary schedule for the basic school year, and will not include any additional compensation. Subd. 5. Payment Schedule 50-54: An employee who retires at age 50-54 will receive their incentive pay on July 20 if their birth date is between January 1 and June 30 in the year they reach age 55. If their birth date is between July 1 and December 31, they will receive their incentive pay on January 20 of the following year.
Determination of Daily Rate. In applying these provisions, the daily rate of pay shall be based upon the total annual compensation at the time of retirement. Subd. 5. Payment Schedule 50-54: A Principal who retires at age fifty to fifty-four (50-54) will receive the retirement incentive pay on July 20th if their birth date is between January 1st and June 30th in the year they reach age fifty-five (55). If their birth date is between July 1st and December 31st, they will receive their retirement incentive pay on January 20th of the following year. Subd. 6. Payment Schedule 55 & Over: Retirement incentive pay for those ages fifty-five (55) or older shall be paid by the District according to the following schedule. Principals who retire between January 1st and June 30th shall receive their retirement incentive pay July 20th of that year. Principals who retire between July 1st and December 31st shall receive their retirement incentive pay on January 20th of the following year. In the event of a Principal's death after having retired from the District, the remaining amount of retirement incentive pay shall be paid to their estate.
Determination of Daily Rate. During each Daily Rate Period, the Bonds shall bear interest at the Daily Rate, which shall be determined by the Remarketing Agent not later than 10:00 a.m., New York time, on each Business Day for such Business Day. The Daily Rate shall be the rate determined by the Remarketing Agent to be the lowest interest rate which would enable the Remarketing Agent to sell such Bonds on the effective date of such rate at a price equal to 100% of the principal amount thereof (without regard to accrued interest); provided, however, that (1) with respect to any day which is not a Business Day, the Daily Rate shall be the Daily Rate determined for the immediately preceding Business Day, and (2) with respect to any other day for which the Remarketing Agent shall not have determined a Daily Rate, the Daily Rate for such day shall be 105% of the most recent TBMA Swap Index. In no event shall the Daily Rate exceed the lesser of 12% per annum or the maximum rate per annum then permitted by applicable law. The Remarketing Agent shall provide the Trustee with immediate telephonic notice by noon New York time (promptly confirmed in writing) of each Daily Rate, as so determined; provided, however that no such notice need be given if the Daily Rate so determined is the same Daily Rate for the immediately preceding day.
Determination of Daily Rate. In applying these provisions, a teacher's daily rate of pay will be the basic daily rate at the time of retirement, as provided in the basic salary schedule for the basic school year, and will not include any additional compensation for extracurricular activities, extended employment or other extra compensation. Subd. 5. Payment Schedule 50-54: A teacher who retires at age 50-54 will receive their retirement incentive pay on July 20th if their birth date is between January 1st and June 30th in the year they reach age 55. If their birth date is between July 1st and December 31st, they will receive their incentive pay on January 20th of the following year. Subd. 6. Payment Schedule 55 & Over: Retirement incentive pay for teachers age 55 or older will be paid by the School District according to the following schedule. Teachers who retire between January 1st and June 30th will receive their retirement incentive pay on July 20th of that year. Teachers who retire between July 1st and December 31st will receive their retirement incentive pay on January 20th of the following year.
Determination of Daily Rate. During each Daily Rate Period, the Bonds shall bear interest at the Daily Rate, determined by the Remarketing Agent on or before each Business Day for such Business Day. The Daily Rate shall be the rate determined by the Remarketing Agent to be the lowest rate which would enable the Remarketing Agent to sell the Bonds for delivery on the effective date of such rate at a price (without regard to accrued interest) equal to 100% of the principal amount thereof. The Remarketing Agent shall provide the Trustee and the Borrower with telephonic or Electronic notice of the Daily Rate determined by 10:30 a.m. (New York City time) on the date of determination. If the Remarketing Agent shall not have determined a Daily Rate for any day by 10:30 a.m. (New York City time) on such day, the Daily Rate shall be the same as the Daily Rate for the immediately
Determination of Daily Rate. During each Daily Rate Period for any Tax-Exempt Series of Bonds, such Bonds shall bear interest at the Daily Rate, which shall be determined by the Remarketing Agent not later than 10:00 a.m., New York time, on each Business Day for such Business Day. The Daily Rate shall be the lowest rate determined by the Remarketing Agent to be the interest rate which would enable the Remarketing Agent to sell such Bonds on the effective date of such rate at a price equal to 100% of the principal amount thereof (without regard to accrued interest); provided,
Determination of Daily Rate. In applying these provisions, the daily rate of pay for Licensed Coordinators will be based upon the total annual compensation at the time of retirement. Subd. 5. Payment Schedule 50-54: A Licensed Coordinator who retires between the ages of fifty-fifty- four (50-54) will receive the retirement incentive pay on July 20th if their birth date is between January 1st and June 30th the year they reach age fifty-five (55). If their birth date is between July 1st and December 31st they will receive their retirement incentive pay on January 20th of the following year. Subd. 6. Payment Schedule 55 & Over: Retirement incentive pay for those age fifty-five (55) or older will be paid by the School District according to the following schedule. Licensed Coordinators who retire between January 1st and June 30th will receive their retirement incentive pay July 20th of that year. Licensed Coordinators who retire between July 1st and December 31st will receive their retirement incentive pay on January 20th of the following year. In the event of a Licensed Coordinator’s death after having retired from the School District, the remaining amount of retirement incentive pay will be paid to their estate.
Determination of Daily Rate. In applying these provisions, daily rate of pay for School Executives shall be based upon his/her total annual compensation at the time of retirement divided by the work days assigned per Article VI, Section 1, Subd. 2. Subd. 5. Payment Schedule 50-54: A School Executive who retires at age fifty to fifty four (50-54) will receive the retirement incentive pay on July 20th if his/her birth date is between January 1st and June 30th in the year they reach age fifty-five (55). If the employee’s birth date is between July 1st and December 31st, he/she will receive their retirement incentive pay on January 20th of the following year. Subd. 6. Payment Schedule 55 & Over: Retirement incentive pay for those age fifty-five (55) or older shall be paid by the School District according to the following schedule. School Executives who retire between January 1st and June 30th shall receive their retirement incentive pay July 20th of that year. School Executives who retire between July 1st and December 31st shall receive their retirement incentive pay on January 20th of the following year. In the event of a School Executive’s death after having retired from the School District, the remaining amount of retirement incentive pay shall be paid to his/her estate.
