Common use of Pay at Retirement Incentive Clause in Contracts

Pay at Retirement Incentive. An employee who elects to retire at the end of the contract year when they are eligible for an early service with actuarially reduced benefits shall be entitled to receive thirty-five percent (35%) of accrued but unused sick leave in lieu of the retirement compensation described in Article V (c) 2 & 3. It is the responsibility of the employee to provide proof of eligibility to the district. The district Treasurer will have the responsibility to determine eligibility.

Pay at Retirement Incentive. An employee who elects to retire at the end of the contract year when they are eligible for an early service with actuarially reduced benefits shall be entitled to receive thirty-five percent (35%) of accrued but unused sick leave in lieu of the retirement compensation described in Article V (c) 2 & 3. It is the responsibility of the employee to provide proof of eligibility to the districtDistrict. The district District Treasurer will have the responsibility to determine eligibility.