Common use of General Eligibility Requirements Clause in Contracts

General Eligibility Requirements. A teacher shall be eligible for the District’s Voluntary Early Retirement Incentive Program provided the teacher meets all of the following eligibility requirements: a. At the time of retirement, must have completed fifteen (15) years of Teachers’ Retirement System (TRS) creditable service; b. At the time of retirement, must have been employed with the District as a certified/professional educator licensed employee for the final five (5) years prior to retirement; c. The retirement shall not cause the Board to pay any penalties to TRS resulting from creditable earnings increases in excess of six percent (6%) in the four (4) years used for the TRS retirement annuity calculation; • THIS REQUIREMENT IS WAIVED FOR JUNE 2017 RETIREMENTS. HOWEVER, IF THE INCREASE IN EXCESS OF 6% OCCURRED FROM 2015-16 TO 2016-17 FOR A 2017 RETIREMENT, THE TEACHER WILL NOT BE PERMITTED TO TAKE ON EXTRA DUTIES DURING THE 2016-17 SCHOOL YEARS AND ANY BONUS MUST BE PAID POST RETIREMENT SO AS NOT TO CAUSE ANY FURTHER PENALTY. d. Must submit to the Superintendent an irrevocable letter of intent to retire by the applicable dates set forth in Section N.2 below with a retirement date of no later than June 30, 2020 AND enclosed with the letter shall be a recent TRS benefits estimate confirming current years of TRS creditable service; e. Must retire no earlier than the completion of the school year during which the teacher becomes first eligible for a non-discounted TRS annuity (age 60 or 35 years of TRS service credit, whichever is first); f. Must retire no later than the completion of the school year following the school year during which the teacher becomes first eligible for a non- discounted TRS annuity.; • THIS REQUIREMENT IS WAIVED FOR JUNE 2017 RETIREMENTS • THIS REQUIREMENT IS ALSO WAIVED FOR TEACHERS RETIRING IN 2018, 2019 OR 2020 WHO CANNOT MEET ELIGIBILITY REQUIREMENT 1.c ABOVE BY THE COMPLETION OF THE SCHOOL YEAR FOLLOWING THE SCHOOL YEAR IN WHICH THEY FIRST BECOME ELIGIBLE FOR A TRS NON-DISCOUNTED ANNUITY IN WHICH CASE THE TEACHER MAY WORK BEYOND THAT DEADLINE UNTIL THE FIRST YEAR THE TEACHER CAN RETIRE WITHOUT CAUSING A TRS 6% EXCESS SALARY PENALTY (SUCH TEACHERS ARE ELIGIBLE FOR THE $28,000 BONUS AND THE POST RETIREMENT INSURANCE BENEFITS DISCUSSED BELOW). g. Must meet any additional specific eligibility requirements set forth in Section N.2 below; and h. Must not have received a retirement benefit from the District pursuant to a prior policy or collective bargaining agreement.

General Eligibility Requirements. A teacher shall be eligible for the District’s Voluntary Early Retirement Incentive Program provided the teacher meets all of the following eligibility requirements: a. At the time of retirement, must have completed fifteen (15) years of Teachers’ Retirement System (TRS) creditable service; b. At the time of retirement, must have been employed with the District as a certified/professional educator licensed employee for the final five (5) years prior to retirement; c. The retirement shall not cause the Board to pay any penalties to TRS resulting from creditable earnings increases in excess of six percent (6%) in the four (4) years used for the TRS retirement annuity calculation; • THIS REQUIREMENT IS WAIVED FOR JUNE 2017 RETIREMENTS. HOWEVER, IF ; i. TEACHERS MAY ENTER INTO AN AGREEMENT WITH THE DISTRICT TO CAP THEIR ANNUAL INCREASE IN EXCESS OF TRS CREDITABLE EARNING AT 6% OCCURRED FROM 2015-16 IN ORDER TO 2016-17 FOR A 2017 RETIREMENT, THE TEACHER WILL NOT BE PERMITTED TO TAKE ON EXTRA DUTIES DURING THE 2016-17 SCHOOL YEARS AND ANY BONUS MUST BE PAID POST RETIREMENT SO AS NOT TO CAUSE ANY FURTHER PENALTYENSURE THEY MEET THIS ELIGIBILITY REQUIREMENT. d. Must submit to the Superintendent or designee an irrevocable letter of intent to retire by no earlier than February 1 of the applicable dates set forth in Section N.2 below school year prior to the fourth school year before the school year of the retirement date (4-year notice) and no later than January 1 of the school year prior to the school year of the retirement date with a retirement date of no later than June 30, 2020 2026 AND enclosed with the letter shall be a recent TRS benefits estimate confirming current years of TRS creditable service; i. NOTICE EXCEPTION FOR TEACHERS RETIRING AT THE END OF 2021-2022 SCHOOL YEAR: MUST MEET ALL OTHER ELIGIBILITY REQUIREMENTS AND MUST SUBMIT LETTER OF INTENT TO RETIRE NO LATER THAN FEBRUARY 1, 2022. e. Must be age 55 or older at the time of retirement (or turn age 55 by December 31 of the school year following teacher’s retirement); f. Must retire no earlier later than the completion of the school year during which the teacher becomes first eligible for a non-discounted TRS annuity (age 60 or 35 years of TRS service credit, whichever is first); f. Must retire no later than the completion of the school year following the school year during which the teacher becomes first eligible for a non- discounted TRS annuity.; • i. THIS REQUIREMENT IS WAIVED FOR JUNE 2017 2022 RETIREMENTS • THIS REQUIREMENT PROVIDED THE 2021-2022 SCHOOL YEAR IS ALSO WAIVED FOR TEACHERS RETIRING IN 2018, 2019 OR 2020 WHO CANNOT MEET ELIGIBILITY REQUIREMENT 1.c ABOVE BY THE COMPLETION OF NOT LATER THAN THE SCHOOL YEAR FOLLOWING THE SCHOOL YEAR IN DURING WHICH THEY FIRST BECOME THE TEACHER BECAME ELIGIBLE FOR A TRS NON-DISCOUNTED TRS ANNUITY IN WHICH CASE THE TEACHER MAY WORK BEYOND THAT DEADLINE UNTIL THE FIRST YEAR THE TEACHER CAN RETIRE WITHOUT CAUSING A (i.e., did not reach age 60 with at least 10 years of TRS 6% EXCESS SALARY PENALTY (SUCH TEACHERS ARE ELIGIBLE FOR THE $28,000 BONUS AND THE POST RETIREMENT INSURANCE BENEFITS DISCUSSED BELOWservice or 35 years of TRS service credit as of the end of the 2019-2020 school year).; g. Must meet any additional specific eligibility requirements set forth in Section N.2 below; and h. Must not have received a retirement benefit from the District pursuant to a prior policy or collective bargaining agreement.