Common use of EARLY NOTIFICATION PAYMENT Clause in Contracts

EARLY NOTIFICATION PAYMENT. An administrator or professional staff member who is retiring may be eligible for an early notification payment if all of the following eligibility requirements are met. To be eligible, the administrator or professional staff member (1) must have been an administrator or professional staff member with the CH-UH School District for five full years or more; (2) must be retiring for the first time from SERS or STRS; (3) must notify the District in writing by February 1st; (4) must be in an administrative or professional staff member position in the contract year during which the notification occurs; and (5) must retire at the conclusion of the contract year during which the notification occurs. If all of these requirements are met, the administrator or professional staff member will receive 2 equal lump sums of $12,000, one on July 1 of the calendar year of retirement and the second on the following July 1.