Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year prior to the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the previous year, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the previous year. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly. b) To be eligible, an employee must submit an irrevocable notice of retirement by February 1st which must be accompanied by a Teachers’ Retirement System (TRS) member requested “Personal Statement of Benefits” and a “Benefit Estimate” confirmation of total years of service. An employee with ten (10) years of full-time service with Neoga C.U.S.D. No. 3 is considered to be eligible for the retirement incentive by meeting one of the following conditions at the time of retirement: 1) The employee is sixty (60) years of age and has ten (10) years of creditable TRS service. 2) The employee is at least fifty-five (55) years of age and has thirty- five (35) years of creditable TRS service. c) If, during the term of this Agreement, any legislation and/or TRS rules/regulations are enacted or not reenacted and/or adopted or amended that result in a greater cost to the District than the costs generated by this Agreement, or that change the definition of what is subject to the 6% TRS cap, the parties agree that this Section shall be null and void and upon the demand of any party shall meet to bargain language to succeed this paragraph.
Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.
Employment Relations Education Leave Employment Relations Education Leave will be allowed in accordance with the Employment Relations Act.
Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.
Educational Incentive For those employees receiving educational incentive payment at the time of layoff, upon re-employment, such employees shall be eligible to receive educational incentive.
Education Leave If required by the Hospital, an employee shall be entitled to leave of absence with pay and without loss of seniority and benefits to write examinations to upgrade his or her employment qualifications. Where employees are required by the Hospital to take courses to upgrade or acquire new employment qualifications, the Hospital shall pay the full costs associated with the courses. Subject to operational requirements, the Hospital will make every reasonable effort to grant requests for necessary changes to an employee's schedule to enable attendance at a recognized up-grading course or seminar related to employment with the Hospital."
Annual Leave 17.1 An employee shall be entitled to four weeks annual leave for each twelve months’ service with the Company, exclusive of public holidays. Annual leave accumulates monthly on a pro rata basis. 17.2 The annual leave entitlement for each part time employee shall be calculated pro rata according to the ordinary hours he or she actually works. 17.3 The time of giving and taking of leave shall be by mutual arrangement between the Company and the employee concerned. 17.4 The Company may direct an employee to take annual leave during any shut down, including any such shut down over the Christmas and New Year period, provided the employee has an accrued annual leave balance that will at least cover the period of the shut down. 17.5 The Company may direct an employee to take up to a quarter of his or her total accrued annual leave entitlement if the employee’s accrued annual leave entitlement exceeds 8 weeks. 17.6 Payment for annual leave shall be made at the relevant minimum rate of pay in clause 19 – Minimum wages, plus a loading of 17.5 per cent on that rate of pay. 17.7 The Company may allow annual leave to be taken by an employee before the right thereto has accrued due. 17.8 An employee has no entitlement to the payment of the loading, when annual leave is taken wholly or partly in advance, until an entitlement accrues due and the loading is then payable in respect of the period of such leave and is calculated on the relevant minimum rate of pay in clause 19 – Minimum wages, payable at the accruing of the entitlement. 17.9 Where leave has been granted to an employee before the leave has accrued due, the Company may deduct the balance of the payment to the employee for that leave period from whatever remuneration is payable to him or her upon the cessation of employment. 17.10 An employee whose employment is terminated by the Company or who lawfully leaves the employment shall be entitled to a pro rata payment calculated on his or her relevant minimum rate of pay in clause 19 – Minimum wages, for the period in respect of which annual leave has not been taken, provided that the loading in clause 17.6 shall only be paid in respect of paid out annual leave for employees who have been employed for a minimum 12 months with the Company.
RETIREMENT INCOME PLAN 18.01 The Nursing Homes and Related Industries Pension Plan
Educational Leave Leave without pay may be granted for educational leave for the duration of actual attendance in an educational program.
Granting of Vacation Leave In granting vacation leave with pay to an employee, the Employer shall make every reasonable effort to:
