ENTITLEMENT & VESTING. Upon retirement from Union County / College Corner Joint School District, a teacher shall be fully vested in the retirement benefits described in this Article if the retiring teacher has at least fifteen (15) years of experience in this school corporation, retires at or after the age of fifty-five (55), and has at least nineteen (19) years of total experience. Teachers hired after January 1, 2004, shall not be entitled to any payment for the eliminated retirement bridge or severance benefits. Amounts forfeited upon resignation prior to meeting applicable vesting requirements shall not be re-credited if an individual is re- employed by the school corporation; however, an approved leave of absence will not result in forfeiture if the teacher returns to employment following the expiration of the period of leave.
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