Common use of DISTRICT RETIREMENT BENEFIT Clause in Contracts

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.

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.only).‌

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.)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.