Common use of Early Retirement Option Clause in Contracts

Early Retirement Option. A. Any Administrator of the Jamesville-XxXxxx Central School District who meets the following eligibility requirements shall be entitled to the early retirement incentive (ERI) payment set forth below: 1. The Administrator must have completed at least ten (10) years of full-time service at Jamesville-XxXxxx. 2. The Administrator must submit a letter of request for the ERI and a letter of resignation on or before February 1st immediately prior to the date on which the Administrator will retire. In the event of disability, the February 1st date shall be waived, but all other eligibility criteria must be met. 3. On the date of retirement, the Administrator must be eligible for a service retirement without penalty from the New York State Teacher’s Retirement System, and the Administrator must retire within the first two years of meeting both state and local eligibility.

Early Retirement Option. A. Any Administrator of the Jamesville-XxXxxx Central School District who meets the following eligibility requirements shall be entitled to the early retirement incentive (ERI) payment set forth below: 1. The Administrator must have completed at least ten (10) years of full-time service at Jamesville-XxXxxx. 2. The Administrator must submit a letter of request ofrequest for the ERI and a letter of resignation on or before February 1st immediately prior to the date on which the Administrator will retire. In the event of disability, the February 1st date shall be waived, but all other eligibility criteria must be met. 3. On the date of retirement, the Administrator must be eligible for a service retirement without penalty from the New York State Teacher’s Retirement System, and the Administrator must retire within the first two years of meeting both state and local eligibility.