Entitlement to Retirement Benefits and Vesting Requirements. 1. Upon retirement from the Corporation, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has satisfied the following requirements:
a. The retiring teacher has reached the age of fifty-five (55); and
b. Immediately prior to retirement, the teacher must have completed not less than fifteen (15) full years of service as a professional educator with the Corporation.
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Corporation, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has satisfied the following requirements:
1. The retiring teacher has reached the age of fifty-five (55); and
2. Immediately prior to retirement, the teacher must have completed not less than ten (10) full years of service as a professional educator with the Corporation and fifteen (15) years of public school teaching experience.
3. There must be evidence that the teacher is planning permanent retirement from teaching in public education in Indiana. Permanent retirement will be indicated by either a signed application for retirement benefits from the Indiana State Teachers Retirement Fund or a notarized statement offered to the School Employer stating that the requesting teacher will not teach elsewhere in public education in Indiana and will apply for retirement benefits from the Indiana State Teacher Retirement Fund at a later date; provided , however, part- time teaching with an Indiana public school corporation following retirement shall not disqualify a teacher for early retirement benefits if the earnings from such part time teaching do not exceed the maximum allowable Indiana public school earnings limit established by Indiana law or the regulations of the Indiana Teachers Retirement Fund.
4. In the event an active plan participant dies prior to satisfying the vesting requirements set forth in this Article, they will become 100% vested immediately for the buyout retirement plan benefit. The deceased Employee’s 401(a) buyout plan account shall be distributable to the decedent’s designated beneficiary or to his/her estate if no beneficiary designation has been made.
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Northwestern Consolidated School Corporation, a teacher shall be fully vested in the retirement benefits described in this section if the retiring teacher has satisfied the following requirements:
a. In the year (September 1-August 31) of the teacher’s retirement, the retiring teacher must be 54 years of age.
b. Immediately prior to retirement, the teacher must have completed not less than (15) full years of service as a professional educator with the Northwestern Consolidated School Corporation, and at least twenty (20) years of total teaching experience which the Corporation has granted credit.
c. The retiring teacher must submit a written letter of intent of retirement no later than July of the year prior to when the retirement is to begin, with the final letter submitted by May 1 of the year of retirement. However, in the event a teacher is unable to give the required notice because of an accident, ill health, or for another unforeseen reason, the Board may accept the teacher’s late letter of retirement. If special circumstances occur (illness, change in status, etc.) the employee may rescind the final letter before June 1 of the year of the retirement.
Entitlement to Retirement Benefits and Vesting Requirements. 102.1 Upon retirement from Richmond Community Schools, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has satisfied the following requirements unless otherwise specified:
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Union-North United School Corporation, a teacher shall be fully vested in the retirement benefits described in this Appendix, if the retiring teacher has met the following requirements:
1. Be employed the previous ten (10) years in the Union-North United School Corporation (leaves of absence do not qualify as years of experience).
2. Definitely be entering the Indiana State Teachers’ Retirement Fund.
3. Be actively employed in the Union-North United School Corporation at the time of planned retirement.
4. Submit a letter of intent to retire to the superintendent by May 1. If the notification date is missed and the teacher submits a request in writing stating the reason, the Superintendent and the Board will determine whether a waiver is appropriate.
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Hanover Community School Corporation, a teacher who was employed prior to June 30, 2004, shall be fully vested in the retirement severance benefits described in this Section if the retiring teacher has satisfied the following requirements:
a. The teacher was last employed prior to June 30, 2004.
b. The teacher will attain the age of fifty-five (55) before the first day of the next agreement year.
c. The teacher has been employed for at least fifteen (15) years in the Hanover Community School Corporation.
d. The retiring teacher must notify the Superintendent in writing prior to May 1 of the year when retirement is to begin. However, in the event a teacher is unable to give the required notice because of an accident, ill health, or for another unforeseen reason, the teacher may appeal to the Board and the Board may accept the teacher’s late letter of resignation.
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Corporation, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has satisfied the following requirements:
1. The retiring teacher has reached the age of fifty-five (55); and
2. Immediately prior to retirement, the teacher must have completed not less than ten (10) full years of service as a professional educator with the Corporation.
3. Said teacher contemplating retirement shall notify the Director, in writing, of intent to retire not later than March 1 in the year prior to retirement; the teacher shall designate a beneficiary; in writing, at the same time. The teacher must submit a binding written resignation of duties no later than March 1 of the last year of service. By Board resolution both March 1 deadlines may be waived. Part-time teaching with an Indiana public school corporation following retirement shall not disqualify a teacher for early retirement benefits if the earnings from such part time teaching do not exceed the maximum allowable Indiana public school earnings limit established by Indiana law or the regulations of the Indiana Teachers Retirement Fund.
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Centerville-Abington Community Schools, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has satisfied the following requirements:
a. the retiring teacher must be at least fifty-five (55) years of age on or before July 1 of the year of retirement;
b. the retiring teacher must be eligible for and accept the benefits of the Indiana State Teachers' Retirement Fund;
c. the retiring teacher must be a teacher in the Centerville-Abington Community Schools at the time of retirement; or was impacted by “Reduction in Force” after 25 years of service in the corporation and must retire from another school corporation.
d. the sum of the retiring teacher's age and years of experience at Centerville- Abington Community Schools must equal at least seventy-five (75).
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Corporation, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has satisfied the following requirements:
1. The retiring teacher has reached the age of fifty (50); and
2. Immediately prior to retirement, the teacher must have completed, by June 30th of the year of retirement, not less than fifteen (15) full years of service as a professional educator with the Corporation; and
3. The retiring teacher must meet the eligibility requirements of the Indiana Teachers Retirement Fund; and
4. Any teacher who dies, and who would have otherwise been vested, shall be deemed vested in the respective benefit for which he/she is qualified.
Entitlement to Retirement Benefits and Vesting Requirements. Upon retirement from the Decatur County School Corporation, a teacher shall be fully vested in the retirement benefits described in this Section 9 if the retiring teacher has satisfied the following requirements:
(1) In the year (September 1 through August 31) of the teacher’s retirement, the retiring teacher must satisfy the following:
a. Be at least fifty-five (55) years of age
b. Have at least ten (10) years of teaching experience in the school corporation.
c. The teacher shall notify the Superintendent of the intent to retire not later than June 1st in the school year prior to the date of retirement, provided however, that said notification date shall be waived in case of retirement due to mental or physical disability if evidence of such disability is submitted to the Office of the Superintendent. A teacher may rescind his/her retirement notification letter up to December 1st of the school year of retirement. Further, the Board, at its discretion, may waive this notification requirement for any reason, if so requested by the retiring teacher.
d. Full benefits provided by this Article shall be paid to the teacher’s designated beneficiary in the event the teacher dies prior to receiving the full benefits; provided however the teacher had properly qualified according to (a) and (b) of this section prior to the time of death.
