Common use of Retirement Agreement Clause in Contracts

Retirement Agreement. 1. To be eligible for participation in this program, a teacher must satisfy all of the following requirements: A. Completion of twelve (12) years of teaching service in the Breckenridge Community Schools (excluding periods of layoff and unpaid leave). B. The teacher must be employed with the district and on active duty as of the date of submission of resignation and until his/her retirement. C. The teacher must submit a written and irrevocable resignation to be effective July 1 of the current year or the beginning of the month after a teacher’s age becomes 55 for the MPSERS Basic program to the district not later than March 15 of the same year. D. The teacher must be eligible to receive retirement benefits from the Michigan Public School Employees Retirement System (MPSERS). The teacher shall provide documentation as required by the administration to confirm retirement eligibility by March 15 of the current year. If MPSERS eligibility cannot be documented to the satisfaction of the Superintendent by (and as of) June 30th, the teacher shall not be eligible for the Supplemental Retirement Stipend, his/her resignation letter shall be deemed void, and he/she shall be considered to remain actively employed by the Breckenridge Community Schools. E. The teacher must sign the "Waiver and Release" form and Letter of Resignation form letter in the contract addendum. F. All teachers shall be deemed to be on notice of the following: (i) Any teacher considering participation in this Supplemental Retirement Stipend program is expressly advised and encouraged to consult with an attorney before signing the documents required for participation in this pro- gram. (ii) Any teacher who executes the documents required herein for participation in this Supplemental Retirement Stipend program shall be permitted to revoke said documents and withdraw from participation in the program by submitting a signed and dated written notice to such effect which must be received by the district within seven (7) calendar days of the date on which the documents were originally signed. (iii) A list is available on request from the office of the Superintendent of Schools of the ages of the teachers known to satisfy the eligibility requirements of Section 1.A. and the ages of those teachers who do not satisfy the require- ment. The district is unable to provide similar information as to the eligibility requirement of Section 1.D. because it does not possess the relevant data. 2. A teacher who satisfies the requirements set forth above to receive the Supple- mental Retirement Stipend shall be granted by the Board cash payments according to the following schedule: Years of Service Payment A teacher who reaches the 30th year during the school year shall be allowed to complete the year without penalty. * The 30 years of service time limit will be waived for a teacher who is unable, by MPSERS guidelines, to retire after 30 years, providing that the teacher does retire in the first year of eligibility under MPSERS guidelines. The cash payments will be made in three (3) installments for three years not to exceed $15,000 including unused sick leave pay, not to exceed $15,000 or an amount acceptable under current tax laws, with the first payment no earlier than July 1st of the current year and not later than June 30th of the next fiscal year. If needed, remaining money would be paid in the fourth year. (Employee will notify the Superintendent’s Office of their preference within the above guidelines.) Retiring teachers qualifying for the above-described cash payments will have their payments deposited into a 403 (b) plan, chosen mutually by the Board of Education and BEA, less any FICA, federal, or state income tax, or other deductions required by law or contract. The creation of this opportunity to receive a Supplemental Retirement Stipend is intended by the parties to act as an additional benefit and consideration for those teachers who elect to voluntarily retire in order to receive benefits under the Michigan Public School Employees Retirement Act of 1979, MCLA 38.13401, et seq. In the event that this retirement stipend is found to be contrary to law during the term of its existence, this Agreement shall be immediately cancelled, and the parties shall meet to negotiate for a successor provision. Teachers who have previously elected to receive the stipend shall continue to be covered by these provisions to the extent permitted by law. 3. A teacher retiring under this plan will have his/her stipend reduced by any amount he/she receives as unemployment compensation charged against the Breckenridge Community Schools. 4. The cash payments will be made to the estate of the retiring teacher in the event of that teacher's death subsequent to receiving all payments to which he/she is entitled.

Retirement Agreement. 1. To be eligible for participation in this program, a teacher must satisfy all of the following requirements: A. Completion of twelve (12) years of teaching service in the Breckenridge Community Schools (excluding periods of layoff and unpaid leave). B. The teacher must be employed with the district and on active duty as of the date of submission of resignation and until his/her retirement. C. The teacher must submit a written and irrevocable resignation to be effective July 1 of the current year or the beginning of the month after a teacher’s age becomes 55 for the MPSERS Basic program to the district not later than March 15 of the same year. D. The teacher must be eligible to receive retirement benefits from the Michigan Public School Employees Retirement System (MPSERS). The teacher shall provide documentation as required by the administration to confirm retirement eligibility by March 15 of the current year. If MPSERS eligibility cannot be documented to the satisfaction of the Superintendent by (and as of) June 30th, the teacher shall not be eligible for the Supplemental Retirement Stipend, his/her resignation letter shall be deemed void, and he/she shall be considered to remain actively employed by the Breckenridge Community Schools. E. The teacher must sign the "Waiver and Release" form and Letter of Resignation form letter in the contract addendum. F. All teachers shall be deemed to be on notice of the following: (i) Any teacher considering participation in this Supplemental Retirement Stipend program is expressly advised and encouraged to consult with an attorney before signing the documents required for participation in this pro- gramprogram. (ii) Any teacher who executes the documents required herein for participation in this Supplemental Retirement Stipend program shall be permitted to revoke said documents and withdraw from participation in the program by submitting a signed and dated written notice to such effect which must be received by the district within seven (7) calendar days of the date on which the documents were originally signed. (iii) A list is available on request from the office of the Superintendent of Schools of the ages of the teachers known to satisfy the eligibility requirements of Section 1.A. and the ages of those teachers who do not satisfy the require- mentrequirement. The district is unable to provide similar information as to the eligibility requirement of Section 1.D. because it does not possess the relevant data. 2. A teacher who satisfies the requirements set forth above to receive the Supple- mental Supplemental Retirement Stipend shall be granted by the Board cash payments according to the following schedule: Years of Service Payment *25-30 $40,000 31 $0 A teacher who reaches the 30th year during the school year shall be allowed to complete the year without penalty. * The 30 years of service time limit will be waived for a teacher who is unable, by MPSERS guidelines, to retire after 30 years, providing that the teacher does retire in the first year of eligibility under MPSERS guidelines. The cash payments will be made in three (3) installments for three years not to exceed $15,000 including unused sick leave pay, not to exceed $15,000 or an amount acceptable under current tax laws, with the first payment no earlier than July 1st of the current year and not later than June 30th of the next fiscal year. If needed, remaining money would be paid in the fourth year. (Employee will notify the Superintendent’s Office of their preference within the above guidelines.) Retiring teachers qualifying for the above-described cash payments will have their payments deposited into a 403 (b) plan, chosen mutually by the Board of Education and BEA, less any FICA, federal, or state income tax, or other deductions required by law or contract. The creation of this opportunity to receive a Supplemental Retirement Stipend is intended by the parties to act as an additional benefit and consideration for those teachers who elect to voluntarily retire in order to receive benefits under the Michigan Public School Employees Retirement Act of 1979, MCLA 38.13401, et seq. In the event that this retirement stipend is found to be contrary to law during the term of its existence, this Agreement shall be immediately cancelled, and the parties shall meet to negotiate for a successor provision. Teachers who have previously elected to receive the stipend shall continue to be covered by these provisions to the extent permitted by law. 3. A teacher retiring under this plan will have his/her stipend reduced by any amount he/she receives as unemployment compensation charged against the Breckenridge Community Schools. 4. The cash payments will be made to the estate of the retiring teacher in the event of that teacher's death subsequent to receiving all payments to which he/she is entitled.

Retirement Agreement. 1. To be eligible for participation in this program, a teacher must satisfy all of the following requirements: A. Completion of twelve fifteen (1215) years of teaching service in the Breckenridge Community Schools (excluding periods of layoff and unpaid leave)) . B. The teacher must be employed with the district and on active duty as of the date of submission of resignation and until his/her retirement. C. The teacher must submit sumit a written and irrevocable resignation resigna- tion (to be effective July 1 of the current year or the beginning of the month after a teacher’s age becomes 55 for the MPSERS Basic program year) to the district not later than March 15 May 1 of the same year. D. The teacher must be eligible to receive retirement benefits from the Michigan Public School Employees Retirement System (MPSERS). The teacher shall provide documentation as required by the administration to confirm con- firm retirement eligibility including, at a minimum, confirmation of the teacher's age, number of years of employment in qualifying public service, enrollment in either "MIP" or "Basic" retirement program, and eligi- bility for purchase of "generic" credit years. Verifica- tion shall be direct from MPSERS to the school district, unless specifically authorized by March 15 the Superintendent of Schools and must be received by May 1 of the current year. If MPSERS eligibility cannot be documented to the satisfaction of the Superintendent by (and as of) June 30th, the teacher shall not be eligible for the Supplemental Retirement Stipend, his/her resignation letter shall be deemed void, and he/she shall be considered to remain actively employed by the Breckenridge Brecken- ridge Community Schools. E. The teacher must sign the "Waiver and Release" form and Letter of Resignation form letter in the contract addendum. F. All teachers shall be deemed to be on notice of the following: (i) Any teacher considering participation in this Supplemental Retirement Stipend program is expressly advised and encouraged to consult with an attorney before signing the documents required for participation in this pro- gramprogram. (ii) Any teacher who executes the documents required herein for participation in this Supplemental Retirement Stipend program shall be permitted to revoke said documents and withdraw from participation in the program by submitting a signed and dated written notice to such effect which must be received by the district within seven (7) calendar days of the date on which the documents were originally signed.signed.‌ (iii) A list is available on request from the office of the Superintendent of Schools of the ages of the teachers known to satisfy the eligibility requirements of Section 1.A. Section 1. A. and the ages of those teachers who do not nQ~ satisfy the require- mentrequirement. The district is unable to provide similar information as to the eligibility eligiblity requirement of Section 1.D. because it does not possess the relevant data. 2. A teacher who satisfies the requirements set forth above to receive the Supple- mental Supplemental Retirement Stipend shall be granted by the Board cash payments according to the following schedule: Years of Service Payment A teacher who reaches the 30th 31 32 33 Pavrnent 4 years 3 years 2 years 1 year during the school year shall be allowed to complete the year without penalty. * The 30 years of service time limit will be waived for a teacher who is unable, by MPSERS guidelines, to retire after 30 years, providing that the teacher does retire in the first year of eligibility under MPSERS guidelines. The cash payments will be made in three four (34) installments for three years not to exceed $15,000 including unused sick leave pay, not to exceed $15,000 or an amount acceptable under current tax lawsequal installments, with the first payment made no earlier than July 1st of the current year 1, 1995(1996), and not no later than June 30th 30, 1996(1997), and the three subsequent payments made no later than June 30 of the next fiscal yearsubsequent years. If needed, remaining money would be paid in the fourth year. (Employee will notify the Superintendent’s Office of their preference within the above guidelines.) Retiring teachers qualifying for the above-described cash payments will have their payments deposited into be issued a 403 (b) plan, chosen mutually by check in the Board of Education and BEAabove-described amount, less any FICA, federal, or state income tax, or other deductions required by law or contract. The creation of this opportunity to receive a Supplemental Retirement Stipend is intended by the parties to act as an additional benefit and consideration for those teachers who elect to voluntarily retire in order to receive benefits under the Michigan Public School Employees Retirement Act of 1979, MCLA 38.13401, et seqsea. In the event that this retirement stipend is found to be contrary to law during the term of its existence, this Agreement shall be immediately cancelled, and the parties shall meet to negotiate for a successor provision. Teachers who have previously elected to receive the stipend shall continue to be covered by these provisions to the extent permitted by law. 3. A teacher retiring under this plan will have his/her stipend reduced by any amount he/she receives as unemployment compensation charged against the Breckenridge Community Schools. 4. The cash payments will be made to the estate of the retiring teacher in the event of that teacher's death subsequent to receiving all payments to which he/she is entitledentitled.‌ A. For the purpose of the pilot ITV project, no member of the BEA may be laid off nor may there be any reduction in the total number of bargaining unit members employed or the hours worked as a result of the implementation and use of this pilot project. B. At the originating site, the interactive TV teacher will be responsible for the course content, material selection, instruction, testing and evaluation of the students at the originating site and at all remote sites. Teachers who are presenting ITV courses shall not be responsible for the behavior or discipline of students at remote sites. C. Assignments to ITV classes shall be made on a voluntary basis. D. Total class size, including students at the originating site and those at remote sites, shall not exceed thirty (30) students per teacher, per class hour.

Retirement Agreement. 1. To be eligible for participation in this program, a teacher must satisfy all of the following requirements: A. Completion of twelve (12) years of teaching service in the Breckenridge Community Schools (excluding periods of layoff and unpaid leave). B. The teacher must be employed with the district and on active duty as of the date of submission of resignation and until his/her retirement. C. The teacher must submit a written and irrevocable resignation to be effective July 1 of the current year or the beginning of the month after a teacher’s age becomes 55 for the MPSERS Basic program to the district not later than March 15 of the same year. D. The teacher must be eligible to receive retirement benefits from the Michigan Public School Employees Retirement System (MPSERS). The teacher shall provide documentation as required by the administration to confirm retirement eligibility by March 15 of the current year. If MPSERS eligibility cannot be documented to the satisfaction of the Superintendent by (and as of) June 30th, the teacher shall not be eligible for the Supplemental Retirement Stipend, his/her resignation letter shall be deemed void, and he/she shall be considered to remain actively employed by the Breckenridge Community Schools. E. The teacher must sign the "Waiver and Release" form and Letter of Resignation form letter in the contract addendum. F. All teachers shall be deemed to be on notice of the following: (i) Any teacher considering participation in this Supplemental Retirement Stipend program is expressly advised and encouraged to consult with an attorney before signing the documents required for participation in this pro- gram. (ii) Any teacher who executes the documents required herein for participation in this Supplemental Retirement Stipend program shall be permitted to revoke said documents and withdraw from participation in the program by submitting a signed and dated written notice to such effect which must be received by the district within seven (7) calendar days of the date on which the documents were originally signed. (iii) A list is available on request from the office of the Superintendent of Schools of the ages of the teachers known to satisfy the eligibility requirements of Section 1.A. and the ages of those teachers who do not satisfy the require- ment. The district is unable to provide similar information as to the eligibility requirement of Section 1.D. because it does not possess the relevant data. 2. A teacher who satisfies the requirements set forth above to receive the Supple- mental Retirement Stipend shall be granted by the Board cash payments according to the following schedule: Years of Service Payment *25-30 $40,000 31 $0 A teacher who reaches the 30th year during the school year shall be allowed to complete the year without penalty. * The 30 years of service time limit will be waived for a teacher who is unable, by MPSERS guidelines, to retire after 30 years, providing that the teacher does retire in the first year of eligibility under MPSERS guidelines. The cash payments will be made in three five (35) installments for three years not to exceed $15,000 including unused sick leave payinstallments, not to exceed $15,000 or an amount acceptable under current tax laws, with the first payment no earlier than July 1st of the current year and not later than June 30th of the next fiscal year. If needed, remaining money would be paid in the fourth year. (Employee will notify the Superintendent’s Office of their preference within the above guidelines.) Retiring teachers qualifying for the above-described cash payments will have their payments deposited into a 403 (b) plan, chosen mutually by the Board of Education and BEA, less any FICA, federal, or state income tax, or other deductions required by law or contract. The creation of this opportunity to receive a Supplemental Retirement Stipend is intended by the parties to act as an additional benefit and consideration for those teachers who elect to voluntarily retire in order to receive benefits under the Michigan Public School Employees Retirement Act of 1979, MCLA 38.13401, et seq. In the event that this retirement stipend is found to be contrary to law during the term of its existence, this Agreement shall be immediately cancelled, and the parties shall meet to negotiate for a successor provision. Teachers who have previously elected to receive the stipend shall continue to be covered by these provisions to the extent permitted by law. 3. A teacher retiring under this plan will have his/her stipend reduced by any amount he/she receives as unemployment compensation charged against the Breckenridge Community Schools. 4. The cash payments will be made to the estate of the retiring teacher in the event of that teacher's death subsequent to receiving all payments to which he/she is entitled.