Plan C. Distribution of a teaching load to include a full-time appointment during either the fall or winter semester as one (1) base semester, and a full-time appointment during the summer term, as the other base semester. A Faculty Member on Plan C shall receive his/her academic year salary during a twelve (12) month period, which will be paid in twenty-four (24) consecutive semi-monthly payments.
Plan C a. The Board shall provide Employees assigned for seven (7) hours per day or less, the following coverage’s to be identified as Plan C.
b. Term Life Insurance in the amount of ten thousand dollars ($10,000) for the employee only. Such insurance protection shall be paid to the employee’s designated beneficiary. In the event of accidental death, the insurance will pay double the specified amount; in the event of accidental dismemberment, the insurance will pay according to the schedule.
c. Vision insurance.
d. Employees may select health insurance coverage with the employee reimbursing the Board the prorated amount proportionate to their daily hourly schedule. (Example: seven hour employee would reimburse the Board 1/8th of the health insurance premium.) Such reimbursement shall be made by payroll deduction.
e. Employees may also select dental insurance with the employee reimbursing the Board the prorated amount proportionate to their daily hourly scheduled. (Example: Seven hour employee would reimburse the Board 1/8th of the dental insurance premium.) Such reimbursement shall be made by payroll deduction.
Plan C. A. Employees who reach their 30th year of service credit under SERS rules and who retire by June 30th of that year shall be paid a cash lump sum payment of 60% of their accrued but unused sick leave with no limit and shall be paid $175 per year of service to a maximum of thirty (30) years.
B. Employees who reach their 31st year of service credit under SERS rules and who retire by June 30th of that year shall be paid a cash lump sum payment of 60% of their accrued but unused sick leave to a maximum of 165 days and shall be paid $150 per year of service to a maximum of thirty (30) years.
C. Employees who reach their 32nd year of service credit under SERS rules and who retire by June 30th of that year shall be paid a cash lump sum payment of 60% of their accrued but unused sick leave to a maximum of 150 days and shall be paid $125 per year of service to a maximum of thirty (30) years.
D. Employees who reach their 33rd year of service credit under SERS rules and who retire by June 30th of that year shall be paid a cash lump sum payment of 60% of their accrued but unused sick leave to a maximum of 100 days and shall be paid $100 per year of service to a maximum of thirty (30) years.
E. Employees who reach their 34th year of service credit under SERS rules and who retire by June 30th of that year shall be paid a cash lump sum payment of 60% of their accrued but unused sick leave to a maximum of 75 days and shall be paid $75 per year of service to a maximum of thirty (30) years.
F. Employees who reach their 35th year or higher of service credit under SERS rules, AND who qualify for and unrestricted benefit under SERS rules, and who retire by June 30th of that year shall be paid a cash lump sum payment of 60% of their accrued but unused sick leave to a maximum of 50 days and shall be paid $50 per year of service to a maximum of thirty (30) years.
G. Employees who reach their 36th year or higher of service under SERS rules AND are over the minimum age requirement for an unreduced benefit as required by SERS rules shall not be eligible for any payment under this section.
Plan C. All employees and beneficiaries of those employees who retire on or after 16 January 1 of the year following acceptance of this section, on the first day of January next 17 following the date of the retirement, receive a cost of living adjustment in an amount equal to three 18 percent (3%) of the original retirement allowance.
Plan C. I/We will not participate in the SCRIP program but will participate in Service Work Hours = 20 hours per family per year and therefore increase my tuition by $1,000.00 per family.
Plan C. This plan will provide the Teacher an opportunity to reduce the Teacher’s workload prior to retirement allowing the individual to take a Board approved unpaid leave and to allow early access to severance allowance funds to supplement income when enrolled in ERIP Plan C.
Plan C. A cash stipend of $3,000 annually while actively employed on a full-time basis by the College with Group Life Insurance in the amount of $50,000. In the event of accidental death, the insurance carrier will pay twice the stated amount. See insurance certificate for schedule of dismemberment coverage.
Plan C. Cash In Lieu - Administrators eligible for, but not electing Plan A or Plan B may elect to receive a cash payment in the amount of $300.00 per month in lieu of health insurance.
Plan C. Under Plan C, Issuer shall pay to Broker the following amounts:
(i) a commission, to be distributed to the Selling Agent, of two percent (2%) of all Invested Amounts invested by the investor;
(ii) a marketing fee of one half percent (0.5%) of all Invested Amounts invested by the investor; and
(iii) an annual trailer commission, to be distributed to the Selling Agent, equal to one percent (1.0%) of all Invested Amounts of the investor remaining invested with Issuer. This trailer commission will start to accrue after 12 months (with the first annual trailer commission payment made, therefore, on the 24-month anniversary). The amounts described in subparagraphs (a)(i), (b)(i) and (c)(i) shall be paid within thirty (30) days following the purchase of Units by the investor. The amounts described in subparagraphs (a)(iii), (b)(iii), and (c)(iii) shall be paid within thirty (30) days following the last day of the quarter in which the anniversary of the initial investment by the investor occurs. The amount of the payment shall be one percent (1.0%) of the average daily capital account balance of the investor during the previous year which ended on the most recent anniversary date.
Plan C. Life Income - The Contract Proceeds will be paid in monthly or annual payments for as long as the Owner or Beneficiary, whichever is appropriate as stated under Section 2, lives. We have the right to require proof satisfactory to us of the age and sex of such appropriate person and that such appropriate person is alive prior to making any payment. A minimum number of payments may be guaranteed, if desired.