Common use of Entitlement to Retirement Benefits, Vesting Requirements Clause in Contracts

Entitlement to Retirement Benefits, Vesting Requirements. Upon separation from the Tri-Central Community Schools, a teacher shall be fully vested in the benefits described in this Article if the teacher has satisfied the following requirements: a. A teacher who has at least fifteen (15) years of experience with Tri-Central Community Schools and at least twenty (20) years of teaching experience in Indiana will be vested in the retirement benefits described in Article VII. b. On or before May 31st of the teacher’s last year of teaching, notification in writing must be given to the Superintendent of the individual’s intention to not return the following year. The Superintendent may waive this notification rule if the situation merits.

Entitlement to Retirement Benefits, Vesting Requirements. Upon separation retirement from the Tri-Central 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. A teacher who is at least 50 years of age, has at least fifteen ten (1510) years of experience with Tri-Central Community Schools and at least twenty (20) years of teaching experience in Indiana AND who actually retires will be vested in the retirement benefits described in Article VIIVIII. b. On or before May 31st of the teacher’s last year of teaching, notification in writing must be given to the Superintendent of the individual’s intention to not return the following yearretire. The Superintendent may waive this notification rule if the situation merits.

Entitlement to Retirement Benefits, Vesting Requirements. Upon separation from the Tri-Central Community Schools, a teacher shall be fully vested in the benefits described in this Article if the teacher has satisfied the following requirements: a. A teacher who has at least fifteen (15) years of experience with Tri-Central Community Schools and at least twenty (20) years of teaching experience in Indiana will be vested in the retirement benefits described in Article VII7. b. On or before May 31st of the teacher’s last year of teaching, notification in writing must be given to the Superintendent of the individual’s intention to not return the following year. The Superintendent may waive this notification rule if the situation merits.