Common use of Payout Timing Clause in Contracts

Payout Timing. The payments specified in the preceding sections will be made to a Teacher on the retirement payroll following the month in which the Teacher receives his/her last regular paycheck from the District. Currently, this payment qualifies as PERA-qualified compensation and is subject to the employee and employer deductions to PERA. State law determines whether this payment is PERA- qualified compensation and subject to such deductions or not.

Payout Timing. The payments specified in the preceding sections will be made to a Teacher on the retirement payroll following the month in which the Teacher receives his/her last regular paycheck from the District. Currently, this payment qualifies as PERA-qualified compensation and is subject to the employee and employer deductions to PERA. State law determines whether this payment is PERA- PERA-qualified compensation and subject to such deductions or not.