One Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to May 31 one (1) year prior to the year of retirement, the employee will be removed from the salary schedule and for the final one (1) years of employment the employee’s TRS creditable earnings shall be increased by six percent (6%) over the employee’s TRS creditable earnings for the prior years of employment respectively. After submitting an irrevocable letter of retirement, if the employee resigns from or is removed from duties for which the employee was compensated the previous year (i.e. Appendix B, extended contract, and/or stipends), the employee’s TRS creditable earnings will be adjusted accordingly.
Appears in 3 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
