Common use of Early Payout Clause in Contracts

Early Payout. Upon application, certificated employees retiring from the teaching profession 44 shall receive the balance of their salary payments on the June payday during the year in 45 which they leave. The District may elect to pay off any other certificated employee(s) at the 46 time he/she leaves the District. All deductions due for the remainder of the year for which 47 this salary is paid shall be made at this time and appropriately transmitted by the District, 48 along with fringe benefits due for this time period. At the request of the employee, the 49 District shall continue to deduct insurance contributions due for the months of June, July and 50 August, and shall make its normal contribution for those months in the normal manner.

Early Payout. Upon application, certificated employees retiring from the teaching profession 44 25 shall receive the balance of their salary payments on the June payday during the year in 45 which they leave. The District may elect to pay off any other certificated employee(s) at the 46 27 time he/she leaves the District. All deductions due for the remainder of the year for which 47 28 this salary is paid shall be made at this time and appropriately transmitted by the District, 48 29 along with fringe benefits due for this time period. At the request of the employee, the 49 30 District shall continue to deduct insurance contributions due for the months of June, July and 50 31 August, and shall make its normal contribution for those months in the normal manner.

Early Payout. Upon application, certificated employees retiring from the teaching profession 44 shall receive the balance of their salary payments on the June payday during the year in 45 which they leave. The District may elect to pay off any other certificated employee(s) at the 46 time he/she leaves the District. All deductions due for the remainder of the year for which 47 this salary is paid shall be made at this time and appropriately transmitted by the District, 48 along with fringe benefits due for this time period. At the request of the employee, the 49 District shall continue to deduct insurance contributions due for the months of June, July and 50 August, and shall make its normal contribution for those months in the normal manner.

Early Payout. Upon application, certificated employees retiring from the teaching profession 44 50 shall receive the balance of their salary payments on the June payday during the year in 45 which 51 they leave. The District may elect to pay off any other certificated employee(s) at the 46 time 1 he/she leaves the District. All deductions due for the remainder of the year for which 47 this 2 salary is paid shall be made at this time and appropriately transmitted by the District, 48 along 3 with fringe benefits due for this time period. At the request of the employee, the 49 District 4 shall continue to deduct insurance contributions due for the months of June, July and 50 August, 5 and shall make its normal contribution for those months in the normal manner. Employees 6 should consult a tax accountant to review possible tax implications regarding this section.