Common use of Limitation on TRS Nonexempt Creditable Compensation Clause in Contracts

Limitation on TRS Nonexempt Creditable Compensation. 14.1 When a Teacher has at least thirty (30) years of TRS creditable service and is five (5) or less years from retirement eligibility under Section 13-132 of the Illinois Pension Code, the Teacher’s nonexempt creditable TRS earnings from employment in the School District, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, shall not exceed the amounts specified hereinafter. No Teacher’s nonexempt creditable TRS earnings from employment in this School District shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the party of the Board or District for any portion of a Teacher’s retirement annuity or result in any District or Board-paid penalty or fee to TRS.

Limitation on TRS Nonexempt Creditable Compensation. 14.1 When a Teacher has at least thirty (30) years of TRS creditable service and is five (5) or less years from retirement eligibility under Section 13-132 of the Illinois Pension Code, the Teacher’s nonexempt creditable TRS earnings from employment in the School District, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, shall not exceed the amounts specified hereinafter. No Teacher’s nonexempt creditable TRS earnings from employment in this School District shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the party of the Board or District for any portion of a Teacher’s retirement annuity annuity, or result in any District or Board-paid penalty or fee to TRS.

Limitation on TRS Nonexempt Creditable Compensation. 14.1 When a Teacher has at least thirty (30) years of TRS creditable service and teacher is five (5) or less years from retirement eligibility under Section 1316-132 of the Illinois Pension Code, the Teacherteacher’s nonexempt creditable TRS earnings from employment in the School Districtschool district, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, shall not exceed the amounts specified hereinafterhereafter. No Teacherteacher’s nonexempt creditable TRS earnings from employment in this School District school district shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the party part of the Board or District district for any portion of a Teacherteacher’s retirement annuity annuity, or result in any District district or Board-paid penalty or fee to TRS.

Limitation on TRS Nonexempt Creditable Compensation. 14.1 When a Teacher has at least thirty twenty‐five (3025) years of TRS creditable service and is five (5) or less years from retirement eligibility under Section 13-132 16‐132 of the Illinois Pension Code, the Teacher’s nonexempt creditable TRS earnings from employment in the School District, irrespective of form and no matter how arising, and whether or not arising under this collective bargaining agreement, shall not exceed the amounts specified hereinafter. No Teacher’s nonexempt creditable TRS earnings from employment in this School District shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the party part of the Board or District for any portion of a Teacher’s retirement annuity annuity, or result in any District or Board-paid Board‐paid penalty or fee to TRS.

Limitation on TRS Nonexempt Creditable Compensation. 14.1 When a Teacher has at least thirty (30) years of TRS creditable service and teacher is five (5) or less years from retirement eligibility under Section 1316-132 of the Illinois Pension Code, the Teacherteacher’s nonexempt creditable TRS earnings from employment in the School District, irrespective of form and no matter how arising, and whether or of not arising under this collective bargaining agreement, shall not exceed the amounts specified hereinafterhereafter. No Teacherteacher’s nonexempt creditable TRS earnings from employment in this School District shall increase from one school year to the next by more than six percent (6%) or be otherwise increased so as to create liability on the party part of the Board or District for any portion of a Teacherteacher’s retirement annuity annuity, or result in any District or of Board-paid penalty or fee to TRS.