Early Retirement. An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.
Early Retirement. A regular employee who is age 55 years or older and is entitled to receive a pension under the Public Service Pension Plan Rules, as of the effective date of layoff, and who has opted for and is entitled to severance pay pursuant to this article shall, upon application, be entitled to purchase all or part of any eligible service for which no contributions were made, as permitted by the Public Service Pension Plan Rules.
Early Retirement. If the Employee-Owner voluntarily retires prior to age __________ years, or if the Employee-Owner has not given the Company at least five (5) years' prior written notice of his or her intention to leave the Company's employ, the Purchase Price shall be reduced by 0.00 percent from the amount otherwise determined in Article II below.
Early Retirement. A fulltime faculty member, in order to facilitate gradual retirement, may, upon reaching the age of fifty-five (55), apply for status as a continuing part-time employee, with the percentage of work load to be mutually acceptable to the College and the employee, but not less than fifty percent (50%). Salary and benefits shall be prorated in accordance with the percentage of workload.
Early Retirement. Early retirement is considered to be retirement before the normal retirement date as set out in the pension plan where the member has either attained age 55 or completed 30 years of service or where the member’s age plus years of service equals at least 80.
Early Retirement. A regular Employee who is age fifty- five (55) years or older and has completed ten (10) years of pensionable service as of the effective date of layoff may opt for early retirement and shall be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d), as determined by the Superannuation Commissioner. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s maximum retirement age.
Early Retirement. Paragraph 1: The Board will continue to provide a voluntary early retirement program for members of the teachers bargaining unit employed prior to July 1, 1996. The substance and procedures of the program, and any changes thereto, are in each instance to be determined by the Board. Alterations shall not be applied retroactively to affect any retired teacher receiving benefits from the program. For the duration of this agreement and pending any legislative action, the Early Retirement structure and level of benefits shall continue at no less than the same level in place on the effective date of this agreement.
Early Retirement x 1. Not applicable.
Early Retirement. In the case of a faculty assignment which is to be made under the jurisdiction of a different department, the affected faculty member will be considered for rank in another department under the current criteria in that department or for assignment to another position with the University for which the faculty member is qualified. If the faculty member does not meet the current criteria for rank, the faculty member will be so informed in writing. To provide for equity, the affected faculty member will be given a reasonable probationary period in which to qualify for rank in the new department. The faculty member will be informed in writing of the additional conditions the faculty member has yet to fulfill in order to qualify for rank in the new department.
7.11 The primary criterion to be used in the implementation of layoffs will be the worth of the faculty member (including, for purposes of this paragraph only, part-time teaching personnel) to the particular program and department. The ability of the department to perform satisfactorily the teaching responsibilities assigned to it must be affected as little as possible. Once this programmatic criterion has been met, termination shall take place in the following order:
a. Part-time teaching personnel
b. Special Instructor
c. Instructors without tenure
d. Assistant Professors without tenure
e. Associate Professors without tenure
f. Professors without tenure g. Instructors with tenure h. Assistant Professors with tenure i. Associate Professors with tenure
Early Retirement. Any Member of the Bargaining Unit hired before 2009 and qualified for early retirement by June 30, 2021, who has completed at least ten (10) years of consecutive employment with the Winner School District as a full-time certified teacher as of June 30 of the year, and the sum of whose age plus the number of years of credited service equals at least eighty-five (85) as of June 30, may elect early retirement. As used in the preceding sentence, the ‘number of years of credited service’ shall be the number of years that the Member has taught full-time as a certified teacher in any accredited school system. A Member of the Bargaining Unit who is qualified for early retirement and who elects to take early retirement must notify the Superintendent thereof in writing prior to May 5 of the year which precedes the school year at the end of which such early retirement will occur. The final notification date is May 5, 2020. However, the Board may excuse lack of sufficient notice and may authorize a Member’s early retirement if it determines that extraordinary circumstances exist which were not foreseeable at the time when notice was otherwise due, so long as the Member’s early retirement will not cause undue harm or hardship to the District. Starting with the 2010/2011 contract year, if a Member of the Bargaining unit withdraws his/her letter of intent more than one time, he/she will waive his/her right to retirement benefits. Members of the bargaining unit who wish to retire and receive the retirement benefits at the end of that current year, will submit a written resignation prior to the first day of second semester. Upon such early retirement, the Member shall be entitled to receive a cash payment that is equal to seventy-five percent (75%) of the Member’s last effective contracted annual salary, exclusive of extra duty pay. The cash payments shall be payable in four equal payments to be paid as follows: one fourth of the lump sum to be paid on the June 30th immediately following retirement and one fourth on each subsequent June 20th until paid in full. In the event the Member of the Bargaining Unit dies while all or any part of these early retirement benefits remain unpaid, such benefits shall be paid to the designated beneficiary of the Member or to the Member’s estate. This provision is separate from, in addition to, and is not in any way connected with any provision of or benefits available under the South Dakota Retirement System. South Dakota law defines and ...
