Common use of Monetary Retirement Benefits Clause in Contracts

Monetary Retirement Benefits. This benefit applies to all retiring licensed/certified personnel except those who qualify for Voluntary Early Retirement Plan (VERP). The retirement benefit applies only to those licensed/certified employees who are retiring or are disabled. It does not apply to employees leaving the District for any other reason or to employees who choose to participate in the VERP. The benefit is based on years served in the Olathe Public Schools. Upon retirement from the Olathe Public Schools, employees will receive a retirement benefit equal to 50% of the longevity entitlement earned during the period of employment up to a maximum of $5,000. The amount will be paid into an employer 403(b) account within 30 days of the employee’s establishment of the account. Book POLICIES Number GBOB Section G - Certified Staff Policies Status Active Title Voluntary Early Retirement Plan

Monetary Retirement Benefits. This benefit applies to all retiring licensed/certified personnel except those who qualify for Voluntary Early Retirement Plan (VERP). The retirement benefit applies only to those licensed/certified employees who are retiring or are disabled. It does not apply to employees leaving the District for any other reason or to employees who choose to participate in the VERP. The benefit is based on years served in the Olathe Public Schools. Upon retirement from the Olathe Public Schools, employees will receive a retirement benefit equal to 50% of the longevity entitlement earned during the period of employment up to a maximum of $5,000. The amount will be paid into an employer 403(b) account within 30 days of the employee’s establishment of the account. POLICIES Book Section Title POLICIES Number GBOB Section G - Certified Staff Policies Status Active Title Voluntary Early Retirement PlanPlan Number Status GBOB Active

Monetary Retirement Benefits. This benefit applies to all retiring licensed/certified personnel except those who qualify for Voluntary Early Retirement Plan (VERP). The retirement benefit applies only to those licensed/certified employees who are retiring or are disabled. It does not apply to employees leaving the District for any other reason or to employees who choose to participate in the VERP. The benefit is based on years served in the Olathe Public Schools. Upon retirement from the Olathe Public Schools, employees will receive a retirement benefit equal to 50% of the longevity entitlement earned during the period of employment up to a maximum of $5,000. The amount will be paid into an employer 403(b) account within 30 days of the employee’s establishment of the account. Book POLICIES Number GBOB Section G - Certified Staff Policies Status Active Title Voluntary Early Retirement PlanPlan Number GBOB Status Active Legal BOARD POLICY: Plan Eligibility Requirements: