Early Retirement Plan. The School Board of Miami-Dade County, Florida has implemented a Supplemental Early Retirement Plan (SERP) with an effective date of July 1, 1984, and the Board now desires to amend that plan as follows: A. No employee will vest for participation in the SERP after July 1, 2000. Based on the provisions of the plan, it will remain in existence, and its provisions shall remain in full force for currently retired participants. B. The Board agrees to pay the full cost of annuities for all participants who have retired under the SERP as of July 1, 2003, to the full extent permitted by Section 231.495, Florida Statutes, to wit, the total difference in retirement income between the retirement benefit based on average monthly compensation and creditable service as of the member's early retirement date and the early retirement benefit. C. After all funds have been disbursed as set forth in paragraph 3 above, the Plan and the Trust shall terminate pursuant to the provisions of the SERP, Article VIII.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
