DISTRICT RETIREMENT BENEFIT Sample Clauses

DISTRICT RETIREMENT BENEFIT. 23.1 Current teachers who have at least ten (10) contract years in Granite School District and retire under the provisions of the Utah State Retirement Act may be eligible for the following additional district retirement benefits, as outlined in the provisions and timelines of Administrative Memorandum 56:
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DISTRICT RETIREMENT BENEFIT. The Board shall recognize the services of those teachers who have rendered creditable service to the District immediately preceding retirement and are eligible to receive pension benefits through the Teachers' Retirement System of the State of Illinois (TRS). A. To be eligible the teacher: 1. Must have rendered at least ten (10) years of service to East Aurora School District 131 prior to receiving the first payment of this benefit. 2. Must be eligible to receive pension benefits through the Teachers' Retirement System of Illinois at the time of retirement from the District, and must actually retire with TRS at the time of retirement from the District. 3. Retirement shall in all instances occur only at the end of the school term.
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DISTRICT RETIREMENT BENEFIT. 23.1 Teachers who retire under the provisions of the Utah School Employees Retirement Act shall be eligible for the following additional district retirement benefits unless dismissed for cause: 23.1.1 Retiring teachers who are eligible for full early retirement benefits shall receive up to 60% of the amount of the retiring teacher’s final full-time contract salary. (See Administrative Memo 56.) 23.1.2 One half of one percent (.005 ) times the final base salary (current teacher’s salary) times the number of years of service (full credit for teaching or administrative work as defined in the current teacher’s salary schedule plus one half year’s credit for a full year of teaching or administrative work in other Utah school districts only). 23.1.3 The District will establish a 403(b) program for the deposit of district sponsored early retirement monies for eligible teachers.
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DISTRICT RETIREMENT BENEFIT. Retirement Eligibility 28 6.2 Retirement Benefits 28 6.3 Carrier Coverage 28
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DISTRICT RETIREMENT BENEFIT. Any teacher who has attained the minimum age of fifty-five (55) on or before June 30 and has been employed by the District for twenty (20) years or more, may elect to retire. Upon such retirement, the District shall provide the teacher retirement benefits consisting of a health benefit in accordance with paragraph 2c (if the teacher is qualified for such benefit under the provisions of Paragraph 2) (the “Health Benefit”) and an IRC §403(b) benefit in accordance with paragraph 3 (the “403(b) Benefit”), such benefits collectively referred to as the “District Retirement Benefit.” The total amount of the District Retirement Benefit shall equal the following percentage of a teacher’s last contract salary, exclusive of extra pay for extra work salary: 20 years of service – 80% of last contract salary 25 years of service – 85% of last contract salary 30 years of service – 90% of last contract salary
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DISTRICT RETIREMENT BENEFIT. The Board offers a retirement incentive plan for eligible teachers who retire no later than June 30, 2026.
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DISTRICT RETIREMENT BENEFIT 
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Related to DISTRICT RETIREMENT BENEFIT

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

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