Eligibility and Notice. 1. To be eligible the teacher must have served satisfactorily in the district for a minimum of eighteen (18) years, a minimum of 10 years consecutive, by the actual retirement date.
2. The teacher shall provide written notice to the superintendent of his or her intent to retire and participate in the program either four years, three years, two years or one year prior to the first day of March of the final year(s) of active service. The board shall approve the request and notify the teacher within sixty (60) days of receipt of the retirement and resignation notice.
3. The teacher’s notice to the Board and the Board’s subsequent action on the request shall constitute a commitment by the parties to the terms stated in the notice, which terms shall be reflected in an individual retirement agreement between the teacher and the Board. In the event a teacher revokes in writing the retirement notice the revocation notice must be received prior to the District’s hiring of a replacement teacher.
Eligibility and Notice a.) To be eligible, the teacher must have served satisfactorily in the District for a minimum of fifteen (15) full-time years preceding his or her retirement and retire without any Board-paid penalty under TRS ERO.
b.) The teacher shall provide written notice to the Superintendent of his or her intention to retire and participate in the program either four (4) years, three (3) years, two (2) years, or one (1) year prior to May 1 of the year before the salary enhancements are to start. The Board shall approve the request and notify the teacher within sixty (60) days of the receipt of the notice of intention to retire, provided that all conditions of this Section are met.
c.) The teacher’s notice to the Board and the Board’s subsequent action on the request shall constitute a contract by the parties to the terms stated in the notice, which terms shall be reflected in an individual retirement agreement between the teacher and the Board. If the teacher desires to revoke his or her retirement notice, he or she must make the request in writing to the Board. The Board, at its discretion, may agree to allow the teacher to revoke the retirement. The parties agree that the salary enhancements described in Section C below are contingent on the teacher’s agreement to retire per the terms of the retirement notice and that if the teacher’s request to revoke the retirement agreement is granted, any salary or compensation paid to the teacher under Section C [i.e., the amounts in excess of the compensation which the teacher would have earned had he or she not submitted a notice to retire] will be repaid to the District within one hundred twenty (120) days and the teacher’s earnings reports to the Illinois Teacher Retirement System (TRS) for the appropriate years will be adjusted and amended to reflect these repayments. Moreover, the teacher shall no longer be eligible to participate in the Retirement Program under this Section unless the teacher submits satisfactory evidence that the teacher’s decision to revoke his or her retirement notice was due to a “life-changing event” as defined by the COBRA and approved by the Board.
Eligibility and Notice. 1. To be eligible the teacher must have served satisfactorily in the district for a minimum of ten (10) years of full-time, creditable service immediately preceding their retirement. Part-time service will count toward the 10 full years of service on a pro-rata basis.
2. The eligible teacher shall provide written notice to the Superintendent of their intention to retire and participate in the program one year, two years, three years or four years as the case may be, between January 1st and April 15th of the school year prior to the school year the benefits are to begin
3. The eligible teacher’s notice to the Board and the Board’s subsequent action on the request shall constitute an irrevocable commitment by the parties to the terms stated in the notice. However, the Board may in exceptional circumstances (such as death or illness in the teacher’s family), in its sole discretion, allow a teacher to revoke said notice of retirement on a non-precedential basis. Where the Board grants the teacher’s request to revoke their notice of intent to retire, the teacher shall reimburse the District any amounts paid under the retirement benefit provisions of this Article within 30 days and the District will amend the teacher reported creditable earnings as appropriate under TRS regulations and any applicable statute or federal laws.
4. The teacher must (a) be eligible to retire without a reduction in the TRS annuity due to age (currently, age 60 for Tier I members and age 67 for Tier II members), or (b) have served the maximum number of creditable years recognized by TRS (currently 35 years of service), including any years of a service in a reciprocal retirement system, whether or not the years in the reciprocal retirement system have been repurchased.
5. To obtain the retirement incentive benefits described in this Article, the teacher must provide the notice referred to in 13.2.2 above so that the
Eligibility and Notice a. To be eligible the teacher must either be in his/her tenth year of satisfactory service, or have completed at a minimum ten years of satisfactory service prior to giving notice of retirement under this section.
b. The teacher shall provide written notice to the superintendent of his or her intention to retire and participate in the program either four years, three years, two years or one year prior to the first day of April of his or her final year of active service. The Board shall approve the request and notify the teacher within sixty (60) days of the receipt of the notice of intention to retire, provided that all conditions of this section are met.
c. The teacher’s notice to the Board and the Board’s subsequent action on the request shall constitute an irrevocable commitment by the parties to the terms stated in the notice. However, in the event of significant change in a teacher’s immediate family (e.g. death, divorce, catastrophic illness), the Board in its sole discretion may allow the teacher to rescind his or her notice, provided the teacher returns to the Board any retirement benefit paid to the teacher in excess of the amount the teacher would otherwise have received under the salary schedule for such year(s) in which the benefit was paid.
Eligibility and Notice. 1. To be eligible the teacher must have served satisfactorily in the District for a minimum of eighteen (18) continuous years preceding his or her retirement. The District will accept up to and not to exceed eight (8) years of part time continuous service towards the total eighteen (18) year requirement. Part time is defined as continuous service in District 200 at or greater than .50
Eligibility and Notice. 1. To be eligible the Support Staff member must have served satisfactorily in the district for a minimum of ten (10) years immediately preceding his or her retirement.
2. The Support Staff member shall provide notice to the superintendent of his or her intention to retire and participate in the program either four years, three years, two years, or one year prior to February 1st of their final year. The Board shall approve the request and notify the Support Staff member within sixty (60) days of the receipt of this notice of intention to retire provided that all conditions of this section are met.
3. The Support Staff member’s notice to the Board and the Board’s subsequent action on the request shall constitute an irrevocable commitment by the parties to the terms stated in the notice.
4. Incentives will be up to 4 years of: ● Year Four = 6% ● Year Three = 6% ● Year Two = 6% ● Year One = 6%
5. Employees can choose 4, 3, 2 or 1 years of the retirement incentive that aligns with their eligibility date.
6. Provisions herein will apply to all bargaining unit members including those currently in the retirement pipeline.
Eligibility and Notice. 1. To be eligible the teacher must have served satisfactorily in the district for a minimum of ten
Eligibility and Notice. 1. To be eligible the teacher must have served satisfactorily in the District for a minimum of eighteen (18) full-time years preceding his or her retirement.
2. The teacher shall provide written notice to the superintendent of his or her intention to retire on or before December 15 of his or her final year of active service. The Board shall approve the request and notify the teacher within sixty
Eligibility and Notice a. The teacher shall provide written notice to the Superintendent of his or her intention to retire prior to the first day of April of the year preceding his or her participation in the retirement incentive program. Teachers may choose to participate in the retirement incentive program for four, three, two or one year(s). The Board shall approve the request and notify the teacher within sixty (60) days of the receipt of the notice of intention to retire, provided that all conditions of this section are met.
b. The teacher’s notice to the Board and the Board’s subsequent action on the request shall constitute an irrevocable commitment by the parties to the terms stated in the notice. However, in the event of significant change in a teacher’s immediate family (e.g. death, divorce, catastrophic illness, loss of job), the Board in its sole discretion may allow the teacher to rescind his or her notice, under one of two options:
i. The teacher returns to the Board any retirement benefit paid to the teacher in excess of the amount the teacher would otherwise have received under the salary schedule for such year(s) in which the benefit was paid.
ii. The teacher would receive the 6% increase for a maximum of four years and then be placed on the salary schedule at the step which the retirement incentive started and remain on that step until retirement. Raises built into the schedule would apply. Extra duties would be compensated at applicable rate, as long as this did not cause the teacher to exceed a 6% increase in pay.
Eligibility and Notice. (a) Each Eligible Director shall be eligible to participate in the Plan by becoming an Active Participant as provided in paragraph 2.2.
(b) The Administrator shall give notice of eligibility to each Eligible Director who is anticipated to be eligible to make Deferral Contributions within a reasonable period of time prior to the Effective Date of the Plan and thereafter prior to the beginning of each Plan Year or any subsequent commencement of status as an Eligible Director.
