Common use of Retirement and Early Notice Compensation Clause in Contracts

Retirement and Early Notice Compensation. 1. Early notification of retirement enhances the colleges’ ability to plan. Therefore, an employee who submits to the College President by October 1 a letter of resignation for purposes of retirement to be effective at the end of the following spring or fall term shall be compensated two thousand dollars ($2,000.00) at the time of retirement. 2. Those employees providing early notice of retirement effective for the end of the fall semester must also submit, between July 1 and August 31 of the year they will retire, a second letter confirming their intent to do so, in order to receive the compensation.

Retirement and Early Notice Compensation. 111. Early notification of retirement enhances the colleges’ ability to plan. Therefore, an employee who submits to the College President by October 1 a letter of resignation for purposes of retirement to be effective at the end of the following spring or fall term shall be compensated two thousand dollars ($2,000.00) at the time of retirement. 212. Those employees providing early notice of retirement effective for the end of the fall semester must also submit, between July 1 and August 31 of the year they will retire, a second letter confirming their intent to do so, in order to receive the compensation.

Retirement and Early Notice Compensation. ‌ 1. Early notification of retirement enhances the colleges’ ability to plan. Therefore, an employee who submits to the College President by October 1 a letter of resignation for purposes of retirement to be effective at the end of the following spring or fall term shall be compensated two thousand dollars ($2,000.00) at the time of retirement. 2. Those employees providing early notice of retirement effective for the end of the fall semester must also submit, between July 1 and August 31 of the year they will retire, a second letter confirming their intent to do so, in order to receive the compensation.