Early Retirement Notification Incentive. Bargaining Unit personnel who are fifty-five (55) years old or older on or before June 30 of any school year, and who submit an irrevocable letter of resignation by March 1, of that school year, for the purpose of retirement at the end of that school year, will receive a payment of $7,500. (11/89, 05/10, 2/14) This retirement benefit will be distributed in a lump sum or through a Tax Sheltered Annuity (TSA) with a District-approved TSA provider within 60 days of the unit member’s date of retirement. Said funds will not be counted toward retirement credit.
Early Retirement Notification Incentive. Members who have worked for the Minuteman School District for a minimum of ten (10) years are eligible for an early retirement notification incentive of Six Thousand Dollars ($6,000.00) on condition they provide the District with one (1) year notice and agree to complete the entire school year in which they intend to retire. Written notice of intent to retire must be indicated on the Annual Salary Survey in June of the year preceding the teacher’s final year of employment. Payment will be made on the last paycheck of the Fiscal Year of retirement. If unforeseen circumstances occur after this notice is given which creates a hardship for a teacher, the Superintendent may permit on a non-precedent setting basis, waiving the notice on the Annual Salary Survey. If unforeseen circumstances exist which create a hardship for a teacher who has given notice to retire, the Superintendent may permit on a non-precedent setting basis, waiver of the irrevocability of the retirement.
Early Retirement Notification Incentive. 1. Early retirement may occur under the following conditions:
a. The bargaining unit member must have been a full-time bargaining unit member in the Newport School District for at least 15 years.
b. Be at least fifty-five (55) years of age.
c. Notify the Superintendent of Schools no later than October 1 of the school year prior to the school year in which the bargaining unit member intends to retire. For example, an individual who intends to retire in June of 2011 needs to provide notice on or before October 1, 2009.
2. The bargaining unit member who qualifies for the retirement incentive shall receive $4,000 divided into each pay throughout the school year immediately preceding retirement and a retirement stipend of $4000 within 90 days of the end of the school year in which he/she retires. A bargaining unit member who provides late notice on or before October 1 of the school year in which he/she intends to retire, shall receive only a $3000 stipend within 90 days of the end of the school year in which he/she retires.
Early Retirement Notification Incentive. The Association and the Board recognize that the more notice that teachers provide the District when planning to retire, the more time the District has to find a new hire that will best serve our students. To this end, the District will offer a lump sum incentive, paid in the employee’s last paycheck of their final year, to employees who provide written notification of their intent to retire prior to the dates listed below. This specific benefit will begin paying out for those who retire at the conclusion of the 2021-2022 school year, and is only available to employees who will meet one of the following age and service requirements by June 30 of their final school year:
1. at least 60 years of age with a minimum of 15 years of service in the District;
2. at least 57 years of age with a minimum of 20 years of service in the District;
3. no minimum age limit with a minimum 30 years of service in the District;
4. or no minimum age limit with a minimum of 25 years of service in the District and having purchased, in accordance with Vermont statute and State Teacher Retirement System regulations, the final five years of service time for a total of 30 years of service. To be eligible for a retirement notification incentive, a teacher shall provide written notice of his/her intent to retire from the Hartford School District according to the following dates and incentive amounts:
1. Prior to June 1st of the school year preceding the school year in which the employee plans to retire: 2% of final year annual contract amount.
2. Prior to January 15th of the school year in which the employee retires: 1% of final year annual contract amount. A notice of intent to retire submitted by a teacher may be revoked by the teacher prior to the issuance of contracts during the school year in which that teacher had indicated was their final year. Any teacher who revokes their notice of intent to retire becomes ineligible for this incentive in the future. Exceptions to this policy can be made at the sole discretion of the Superintendent.
Early Retirement Notification Incentive. 39 40 A unit member who notifies the District HR Department in writing no later than March 15th 41 that he/she will retire through CAL PERS shall receive an incentive bonus added to his/her 42 June pay warrant. Bonus amounts will be adjusted by months/hours worked per single highest 43 contract at retirement 44 12 Month Employee- (8 hours a day)- $1500.00 45 9 -11 Month Employee- (8 hours a day) – $1000.00 1 9 - 10 Month Employee – (6 + hours per day) – $500.00 2 9 - 10 Month Employee – $250.00
Early Retirement Notification Incentive. Members who have worked for the Minuteman School District for a minimum of ten (10) years are eligible for an early retirement notification incentive of Six Thousand Dollars ($6,000.00) on condition they provide the District with one (1) year notice and agree to complete the entire school year in which they intend to retire. Written notice of intent to retire must be indicated on the Annual Salary Survey in June of the year preceding the teacher's final year of employment. Payment will be made on the last paycheck of the Fiscal Year of retirement. Effective July 1, 2025, members will be required to provide two (2) years’ notice and written notice of intent to retire must be indicated on the Annual Salary Survey in June two (2) years preceding the teacher’s date of retirement. Members may withdraw the retirement notification at any time with no penalty. Payment will be made on the last paycheck of the Fiscal Year of retirement.
Early Retirement Notification Incentive member who notifies the district HR department in writing no later than March 15th that 13 he/she will retire through CAL PERS shall receive an incentive bonus added to his/her June 14 pay warrant. Bonus amounts will be adjusted by months/hours worked per single highest 15 contract at retirement 16 12 Month Employee (8 hours a day)- $1500.00 17 9 -11 Month Employee- (8 hours a day) – $1000.00 18 9 - 10 Month Employee – (6 + hours per day) – $500.00 19 9 - 10 Month Employee – $250.00 20 Golden Handshake 22 The District will provide for golden handshakes pursuant to the PERS procedures for the first 23 24 and third years of the agreement. The District will consult with CSEA on the dates for the 25 26 window period. 27
Early Retirement Notification Incentive. This article is designed to provide employees of the Belmont Police Department a voluntary incentive to give early notification of retirement. The parties acknowledge that delays in filling vacancies under the civil service system increase workload and overtime costs. In order to diminish such effects, and to reward length of service, an employee shall be entitled to receive an early notification of retirement bonus equal to five percent (5%) of the base weekly pay as outlined in the chart listed under Article 9, “Compensation”, for the one year period preceding his/her retirement subject to the following conditions:
1. The employee gives written notice to the Police Chief and Human Resources a minimum of twelve (12) months prior to filing for superannuation retirement, of his/her intent to retire and of the expected separation date.
2. Such notice shall be irrevocable.
3. Such employee in fact retires. Notwithstanding the above, employees retiring between the funding date of this agreement and not more than one (1) year later must give notice of their planned retirement within two (2) weeks of the funding date of this agreement to be eligible to receive the five percent (5%) bonus hereunder.
Early Retirement Notification Incentive. A teacher requesting release from contract by January 15 of the current school year, for the purpose of retirement from the district and from KPERS for the ensuing school year, shall receive a $1,000 early retirement payment with their June payment. Request for release from contract shall be made in writing. Teachers or the Perry Teachers’ Association may make written suggestions regarding employee or student safety. The written suggestions are to be given to the Superintendent.
18.1 The parties recognize the right of the administration and Board to discipline a teacher for good cause as determined by the Board. "Good cause" is defined as any reason put forward by the administration or Board in good faith and which is not arbitrary, irrational or irrelevant to the Board's task of building up and maintaining an efficient school system.
Early Retirement Notification Incentive. Add a sentence to paragraph 1, such that final 2 sentences of this paragraph are: “This retirement benefit will be distributed in a lump sum or through a Tax Sheltered Annuity (TSA) with a District-approved TSA provider within 60 days of the unit member’s date of retirement. Said funds will not be counted toward retirement credit. (11/89, 05/10, 02/14)” Bargaining Unit personnel electing this option shall not be eligible for the Certificated Early Retirement Program as stipulated in Article 14.1 of this contract. The following does not need to be inserted in the contract, but should be mentioned in the agreement language: The District and Association agree to form a joint committee to meet during the 2014-15 school year to look at alternative health plan options available for early retirees under the Affordable Care Act for which the District would reimburse premiums subject to the restrictions in Article
