Common use of Post-Retirement Incentive Payment Clause in Contracts

Post-Retirement Incentive Payment. a. Teachers who provide 4 years’ advance notice shall receive a retirement incentive equal to $30,000 paid in one lump sum as a post-retirement incentive payment within six months of retirement or paid in two lump sums as post-retirement incentive payments within twelve months of retirement. Teachers who provide less than 4 years notice are not eligible for this retirement incentive.