Early Notification of Retirement Incentive Sample Clauses

Early Notification of Retirement Incentive. Should an Administrator submit written notification to the District on or before March 15th of the current school year, of their retirement at the end of the same school year, the retiring Administrator shall be eligible for a $1,000 incentive payment.
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Early Notification of Retirement Incentive. A one thousand dollar ($1,000) stipend will be paid to employees who are eligible for STRS retirement and who provide written notification to the Board on or before March 1 of any year that they intend to retire on June 1 or later in that same calendar year. The stipend will be paid by the second payroll following the Board’s acceptance of the employee’s resignation.
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Early Notification of Retirement Incentive. Teachers will receive an incentive if they meet the 675 qualifications for KPERS retirement and notify the superintendent/XXX in writing on or before the BOE 676 meeting as listed below of the retirement year. One must begin his/her KPERS withdrawals following the 677 current contract year to receive the incentive as follows: November BOE Meeting: $1,500.00 December BOE Meeting: $1,250.00 January BOE Meeting: $1,000.00 678 3. Incentive pay for early notification of Retirement will be included in the last district paycheck of the 679 contract year for the employee.
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Early Notification of Retirement Incentive. 40.1 A teacher who has completed at least twenty (20) years of service, as of the date of retirement, as a teacher in the Hingham Public Schools and who has given the School District proper and irrevocable notice by June 1, 2000 or June 1 of any succeeding year of this contract that he/she will retire will be eligible for an early notification of retirement incentive payment. For purposes of this section, the term "early notification of retirement" shall mean retirement at the end of the next school year following the one in which notice is given. In order to be eligible for this incentive, a teacher must furnish evidence from the Teachers Retirement Board that he/she will be eligible for retirement and must not be eligible to participate in any other early retirement program, including a program established pursuant to the Education Reform Act of 1993. Notice of intention to retire is final and irrevocable and a teacher electing early retirement must leave the employ of the Hingham Public Schools effective on the date specified in the written notice. The early notification of retirement incentive payment will be paid in a lump sum on the first pay date after July 1 of the retirement year.
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Early Notification of Retirement Incentive. 24. 14 Entire Agreement .......................................................26. 15 Evaluation ..................................................................5. 2
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Related to Early Notification of Retirement Incentive

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • EARLY RETIREMENT INCENTIVE PLAN 1. The Board will pay an allowance to continuing contract teachers who retire from teaching in the District under the Teachers' Pension Plan, before reaching age sixty (60), subject to the following conditions: The teacher must:

  • Notice of Retirement (a) If an Employee gives the Board an irrevocable notice of retirement by October 1st three (3) years prior to the year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of any other increases in compensation for each of his/her remaining three years of service.

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement at the beginning of the following school year. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year of the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the year of submission, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the year of submission. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly.

  • RETIREMENT INCENTIVE PROGRAM A. A Retirement Incentive Program will be provided by the District based upon the conditions stipulated below:

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.

  • 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.

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