Common use of LONGEVITY PLAN Clause in Contracts

LONGEVITY PLAN. Beginning at the end of the 2016-2017 School Year, USD 220 will provide an annual annuity per certified staff member for each year of employment. This will be a deferred compensation plan that incorporates a 50% vested amount at the completion of the employees’ fifth year of employment. The employee will gain 10% per year thereafter, becoming 100% vested at the end of year 10. • The initial deposit for an employee in years 1-5, equals $500; year 6, equals $600, year 7, equals $700, year 8, equals $800, year 9, equals $900, and year 10+, equals $1,000 annual deposit into the certified staff member’s annuity account. • Current 2016-2017 USD 220 certified employees who have completed five years or more of service will be vested at the corresponding level. • USD 220 retains possession of all funds until the qualifying employee leaves the district. • Funds accumulated when employees leave the district prior to reaching any vested rights remain USD 220 funds. • A private financial provider will maintain all funds on behalf of USD 220. • Annual deposits will be made by June 30 of each corresponding school year. 1 $500 0% 11 $1,000 100% 2 $500 0% 12 $1,000 100% 3 $500 0% 13 $1,000 100% 4 $500 0% 14 $1,000 100% 6 $600 60% 16 $1,000 100% 7 $700 70% 17 $1,000 100% 8 $800 80% 18 $1,000 100% 9 $900 90% 19 $1,000 100%

LONGEVITY PLAN. Beginning at the end of the 2016-2017 School Year, USD 220 will provide an annual annuity per certified staff member for each year of employment. This will be a deferred compensation plan that incorporates a 50% vested amount at the completion of the employees’ fifth year of employment. The employee will gain 10% per year thereafter, becoming 100% vested at the end of year 10. • The initial deposit for an employee in years 1-5, equals $500; year 6, equals $600, year 7, equals $700, year 8, equals $800, year 9, equals $900, and year 10+, equals $1,000 annual deposit into the certified staff member’s annuity account. • ● Current 2016-2017 USD 220 certified employees who have completed five years or more of service will be vested at the corresponding level. • ● USD 220 retains possession of all funds until the qualifying employee leaves the district. • ● Funds accumulated when employees leave the district prior to reaching any vested rights remain USD 220 funds. • ● A private financial provider will maintain all funds on behalf of USD 220. • ● Annual deposits will be made by June 30 of each corresponding school year. ● The employee will have the ability to provide matching funds as established by the service provider. ● There will be no limit to the “Years of Service” an employee can accumulate within the longevity plan. 1 $500 0% 11 1 $1,000 100% 2 $500 0% 12 2 $1,000 100% 3 $500 0% 13 3 $1,000 100% 4 $500 0% 14 4 $1,000 100% 6 $600 60% 16 6 $1,000 100% 7 $700 70% 17 7 $1,000 100% 8 $800 80% 18 8 $1,000 100% 9 $900 90% 19 9 $1,000 100%% been exhausted.

LONGEVITY PLAN. Beginning at the end of the 2016-2017 School Year, USD 220 will provide an annual annuity per certified staff member for each year of employment. This will be a deferred compensation plan that incorporates a 50% vested amount at the completion of the employees’ fifth year of employment. The employee will gain 10% per year thereafter, becoming 100% vested at the end of year 10. • The initial deposit for an employee in years 1-5, equals $500; year 6, equals $600, year 7, equals $700, year 8, equals $800, year 9, equals $900, and year 10+, equals $1,000 annual deposit into the certified staff member’s annuity account. • Current 2016-2017 USD 220 certified employees who have completed five years or more of service will be vested at the corresponding level. • USD 220 retains possession of all funds until the qualifying employee leaves the district. • Funds accumulated when employees leave the district prior to reaching any vested rights remain USD 220 funds. • A private financial provider will maintain all funds on behalf of USD 220. • Annual deposits will be made by June 30 of each corresponding school year. • The employee will have the ability to provide matching funds as established by the service provider, MidAmercia. • There will be no limit to the “Years of Service” an employee can accumulate within the longevity plan. 1 $500 0% 11 $1,000 100% 2 $500 0% 12 $1,000 100% 3 $500 0% 13 $1,000 100% 4 $500 0% 14 $1,000 100% 6 $600 60% 16 $1,000 100% 7 $700 70% 17 $1,000 100% 8 $800 80% 18 $1,000 100% 9 $900 90% 19 $1,000 100%

LONGEVITY PLAN. Beginning at the end of the 2016-2017 School Year, USD 220 will provide an annual annuity per certified staff member for each year of employment. This will be a deferred compensation plan that incorporates a 50% vested amount at the completion of the employees’ fifth year of employment. The employee will gain 10% per year thereafter, becoming 100% vested at the end of year 10. • The initial deposit for an employee in years 1-5, equals $500; year 6, equals $600, year 7, equals $700, year 8, equals $800, year 9, equals $900, and year 10+, equals $1,000 annual deposit into the certified staff member’s annuity account. •  Current 2016-2017 USD 220 certified employees who have completed five years or more of service will be vested at the corresponding level. •  USD 220 retains possession of all funds until the qualifying employee leaves the district. •  Funds accumulated when employees leave the district prior to reaching any vested rights remain USD 220 funds. •  A private financial provider will maintain all funds on behalf of USD 220. •  Annual deposits will be made by June 30 of each corresponding school year.  The employee will have the ability to provide matching funds as established by the service provider, MidAmercia.  There will be no limit to the “Years of Service” an employee can accumulate within the longevity plan. 1 $500 0% 11 $1,000 100% 2 $500 0% 12 $1,000 100% 3 $500 0% 13 $1,000 100% 4 $500 0% 14 $1,000 100% 6 $600 60% 16 $1,000 100% 7 $700 70% 17 $1,000 100% 8 $800 80% 18 $1,000 100% 9 $900 90% 19 $1,000 100%

LONGEVITY PLAN. Beginning at the end of the 2016-2017 School Year, USD 220 will provide an annual annuity per certified staff member for each year of employment. This will be a deferred compensation plan that incorporates a 50% vested amount at the completion of the employees’ fifth year of employment. The employee will gain 10% per year thereafter, becoming 100% vested at the end of year 10. • The initial deposit for an employee in years 1-5, equals $500; year 6, equals $600, year 7, equals $700, year 8, equals $800, year 9, equals $900, and year 10+, equals $1,000 annual deposit into the certified staff member’s annuity account. • Current 2016-2017 USD 220 certified employees who have completed five years or more of service will be vested at the corresponding level. • USD 220 retains possession of all funds until the qualifying employee leaves the district. • Funds accumulated when employees leave the district prior to reaching any vested rights remain USD 220 funds. • A private financial provider will maintain all funds on behalf of USD 220. • Annual deposits will be made by June 30 of each corresponding school year. • The employee will have the ability to provide matching funds as established by the service provider, MidAmerica. • There will be no limit to the “Years of Service” an employee can accumulate within the longevity plan. 1 $500 0% 11 $1,000 100% 2 $500 0% 12 $1,000 100% 3 $500 0% 13 $1,000 100% 4 $500 0% 14 $1,000 100% 6 $600 60% 16 $1,000 100% 7 $700 70% 17 $1,000 100% 8 $800 80% 18 $1,000 100% 9 $900 90% 19 $1,000 100%