Common use of Retirement and Resignation Clause in Contracts

Retirement and Resignation. Tenured teachers may resign at any time by obtaining concurrence of the Board or by written notice sent to the Secretary of the Board at least thirty (30) days before the intended date of resignation. The letter shall include a statement of the teacher’s reason for terminating employment. No tenured teacher may resign during the school year in order to accept another teaching position without agreement of the Board. Probationary teachers under contract may terminate their service during the period of the contract only with agreement of the Board. Early Retirement Incentive shall be available to any teacher (i) who has completed 12 or more years of certified teaching service in this District; (ii) whose retirement will not require the District to pay any ERO or other retirement penalty; (iii) who within the current or next year of teaching service is or will become eligible to receive a retirement annuity without discount from the Teachers Retirement System of the State of Illinois (TRS); and (iv) who retires no later than the end of the third year after which he or she first gains eligibility under the terms of this Early Retirement Incentive. To select such Early Retirement Incentive, the teacher must submit to the Board an irrevocable written notice of intent to retire and resignation no later than August 1st, of the second calendar year prior to the designated final year of teaching and provide written proof from the TRS that said retirement will not result in any penalty. During the final teaching year, teachers receiving the Early Retirement Incentive will be paid according to the salary schedule for the current school year. The balance of the Local Early Retirement Incentive will be paid in the last pay period in June, following the school term of the year of retirement. Providing timely notice is given as required in the preceding paragraph, the District will increase the teacher’s salary in each of the final years (one, two, or three years), of service by an aggregate amount of 6% for each said year. Increases shall only be paid for those years remaining on the teachers’ window of eligibility, as specified in the preceding paragraph. A teacher may be eligible and elect either a three, two, or one year Early Retirement Incentive based on the timing of notice and their window of eligibility. The 6% increase shall be in lieu of all other salary increases. If the said total salary for the next-to-last year, prior to receiving this incentive, includes compensation for extra-curricular duties performed during the year prior to the notice required to elect this incentive, then it is understood and agreed that the teacher will accept those same duties during the final year(s) of service if requested by the Board. In the event that the teacher does not perform such duties for any reason, the Early Retirement Incentive salary will be reduced by the amount paid in salary for such extra-curricular activity, including TRS, during the previous year. During the final year, the administration and retiring teacher will discuss the terms of the Local Early Retirement Incentive as it may affect the retiring teacher. The District’s Early Retirement Incentive is based on reliance on the teacher’s expressed declaration to retire. Such retirement notice shall be final and irrevocable unless both the teacher and the Board agree to withdraw and cancel the retirement notice. In the event the teacher has received the retirement incentive pay and returns to teaching service, he or she shall repay such incentive pay and any TRS paid on said amount, to the District within the following teaching year. To be eligible for this Early Retirement Incentive, such teacher must retire no later than August 1st at the end of the third school year after which he or she first gains eligibility. Failure to retire by August 1st at the close of the third year after which he or she first becomes eligible will forever foreclose the teacher from the benefits of this Early Retirement Incentive for the remainder of the teacher’s employment with the District. Eligibility will occur only once. For example, teachers who became eligible during the 2007-2008 school year may retire and qualify for the 6% incentive providing they submit notice of intent to retire is submitted by July 30, 2007. The teacher would then receive a 6% aggregate salary increase for the 2007 -2008; 2008- 2009; and 2009-2010 school years. A teacher who has two years left between the date on which they first became eligible and the three year retirement window may give similar notice. The teacher would then receive a 6% increase in each of the two years remaining. Under no circumstances will a teacher receive more than three years of the 6% increase provided by this incentive. In addition, under no circumstances may a teacher elect additional new extra curricular assignments to bolster compensation above the maximum aggregate increase permitted by the 6% increase under the LERO. This Early Retirement Incentive shall only be available if the retiring teacher does not elect and receive an “additional new statutory retirement plan” which is unforeseen at the date of this contract. In the event that the current Early Retirement Incentive option is substantially modified or deleted by legislation, to the substantial financial detriment of the teacher, and the retiring teacher has previously given the Board a written notice of retirement under the ERO option, the teacher will be allowed to withdraw his or her resignation previously given and elect the Retirement Incentive benefits otherwise available under this contract. Alternatively, the Board may offer individual retirement incentive programs to teachers. Such retirement incentives shall be negotiated on an individual basis with the retiring teacher, a representative from the Association, and the Board. Such retirement agreements will be individually created to the mutual benefit of the Board and the retiring teacher shall not constitute precedent for other retirements, and such precedent shall not be grievable or subject to arbitration by the parties, the Association or other teachers.

Retirement and Resignation. Tenured teachers may resign at any time by obtaining concurrence of the Board or by written notice sent to the Secretary of the Board at least thirty (30) days before the intended date of resignation. The letter shall include a statement of the teacher’s reason for terminating employment. No tenured teacher may resign during the school year in order to accept another teaching position without agreement of the Board. Probationary teachers under contract may terminate their service during the period of the contract only with agreement of the Board. Early Retirement Incentive shall be available to any teacher (i) who has completed 12 or more years of certified teaching service in this District; (ii) whose retirement will not require the District to pay any ERO or other retirement penalty; (iii) who within the current or next year of teaching service is or will become eligible to receive a retirement annuity without discount from the Teachers Retirement System of the State of Illinois (TRS); and (iv) who retires no later than the end of the third year after which he or she first gains eligibility under the terms of this Early Retirement Incentive. To select such Early Retirement Incentive, the teacher must submit to the Board an irrevocable written notice of intent to retire and resignation no later than August 1st, of the second calendar year prior to the designated final year of teaching and provide written proof from the TRS that said retirement will not result in any penalty. During the final teaching year, teachers receiving the Early Retirement Incentive will be paid according to the salary schedule for the current school year. The balance of the Local Early Retirement Incentive will be paid in the last pay period in June, following the school term of the year of retirement. Providing timely notice is given as required in the preceding paragraph, the District will increase the teacher’s salary in each of the final years (one, two, or three years), of service by an aggregate amount of 6% for each said year. Increases shall only be paid for those years remaining on the teachers’ window of eligibility, as specified in the preceding paragraph. A teacher may be eligible and elect either a three, two, or one year Early Retirement Incentive based on the timing of notice and their window of eligibility. The 6% increase shall be in lieu of all other salary increases. If the said total salary for the next-to-last year, prior to receiving this incentive, includes compensation for extra-curricular duties performed during the year prior to the notice required to elect this incentive, then it is understood and agreed that the teacher will accept those same duties during the final year(s) of service if requested by the Board. In the event that the teacher does not perform such duties for any reason, the Early Retirement Incentive salary will be reduced by the amount paid in salary for such extra-curricular activity, including TRS, during the previous year. During the final year, the administration and retiring teacher will discuss the terms of the Local Early Retirement Incentive as it may affect the retiring teacher. The District’s Early Retirement Incentive is based on reliance on the teacher’s expressed declaration to retire. Such retirement notice shall be final and irrevocable unless both the teacher and the Board agree to withdraw and cancel the retirement notice. In the event the teacher has received the retirement incentive pay and returns to teaching service, he or she shall repay such incentive pay and any TRS paid on said amount, to the District within the following teaching year. To be eligible for this Early Retirement Incentive, such teacher must retire no later than August 1st at the end of the third school year after which he or she first gains eligibility. Failure to retire by August 1st at the close of the third year after which he or she first becomes eligible will forever foreclose the teacher from the benefits of this Early Retirement Incentive for the remainder of the teacher’s employment with the District. Eligibility will occur only once. For example, teachers who became eligible during the 2007-2008 school year may retire and qualify for the 6% incentive providing they submit notice of intent to retire is submitted by July 30, 2007. The teacher would then receive a 6% aggregate salary increase for the 2007 -2008; 2008- 2009; and 2009-2010 school years. A teacher who has two years left between the date on which they first became eligible and the three year retirement window may give similar notice. The teacher would then receive a 6% increase in each of the two years remaining. Under no circumstances will a teacher receive more than three years of the 6% increase provided by this incentive. In addition, under no circumstances may a teacher elect additional new extra curricular extracurricular assignments to bolster compensation above the maximum aggregate increase permitted by the 6% increase under the LERO. This Early Retirement Incentive shall only be available if the retiring teacher does not elect and receive an “additional new statutory retirement plan” which is unforeseen at the date of this contract. In the event that the current Early Retirement Incentive option is substantially modified or deleted by legislation, to the substantial financial detriment of the teacher, and the retiring teacher has previously given the Board a written notice of retirement under the ERO option, the teacher will be allowed to withdraw his or her resignation previously given and elect the Retirement Incentive benefits otherwise available under this contract. Alternatively, the Board may offer individual retirement incentive programs to teachers. Such retirement incentives shall be negotiated on an individual basis with the retiring teacher, a representative from the Association, and the Board. Such retirement agreements will be individually created to the mutual benefit of the Board and the retiring teacher shall not constitute precedent for other retirements, and such precedent shall not be grievable or subject to arbitration by the parties, the Association or other teachers.

Retirement and Resignation. Tenured teachers may resign at any time by obtaining concurrence of the Board or by written notice sent to the Secretary of the Board at least thirty (30) days before the intended date of resignation. The letter shall include a statement of the teacher’s reason for terminating employment. No tenured teacher may xxx resign during the school year in order to accept another teaching position without agreement of the Board. Probationary teachers under contract may terminate their service during the period of the contract only with agreement of the Board. Early Retirement Incentive shall be available to any teacher (i) who has completed 12 or more years of certified teaching service in this District; (ii) whose retirement will not require the District to pay any ERO or other retirement penalty; (iii) who within the current or next year of teaching service is or will become eligible to receive a retirement annuity without discount from the Teachers Retirement System of the State of Illinois (TRS); and (iv) who retires no later than the end of the third year after which he or she first gains eligibility under the terms of this Early Retirement Incentive. To select such Early Retirement Incentive, the teacher must submit to the Board an irrevocable written notice of intent to retire and resignation no later than August 1st, of the second calendar year prior to the designated final year of teaching and provide written proof from the TRS that said retirement will not result in any penalty. During the final teaching year, teachers receiving the Early Retirement Incentive will be paid according to the salary schedule for the current school year. The balance of the Local Early Retirement Incentive will be paid in the last pay period in June, following the school term of the year of retirement. Providing timely notice is given as required in the preceding paragraph, the District will increase the teacher’s salary in each of the final years (one, two, or three years), of service by an aggregate amount of 6% for each said year. Increases shall only be paid for those years remaining on the teachers’ window of eligibility, as specified in the preceding paragraph. A teacher may be eligible and elect either a three, two, or one year Early Retirement Incentive based on the timing of notice and their window of eligibility. The 6% increase shall be in lieu of all other salary increases. If the said total salary for the next-to-last year, prior to receiving this incentive, includes compensation for extra-curricular duties performed during the year prior to the notice required to elect this incentive, then it is understood and agreed that the teacher will accept those same duties during the final year(s) of service if requested by the Board. In the event that the teacher does not perform such duties for any reason, the Early Retirement Incentive salary will be reduced by the amount paid in salary for such extra-curricular activity, including TRS, during the previous year. During the final year, the administration and retiring teacher will discuss the terms of the Local Early Retirement Incentive as it may affect the retiring teacher. The District’s Early Retirement Incentive is based on reliance on the teacher’s expressed declaration to retire. Such retirement notice shall be final and irrevocable unless both the teacher and the Board agree to withdraw and cancel the retirement notice. In the event the teacher has received the retirement incentive pay and returns to teaching service, he or she shall repay such incentive pay and any TRS paid on said amount, to the District within the following teaching year. To be eligible for this Early Retirement Incentive, such teacher must retire no later than August 1st at the end of the third school year after which he or she first gains eligibility. Failure to retire by August 1st at the close of the third year after which he or she first becomes eligible will forever foreclose the teacher from the benefits of this Early Retirement Incentive for the remainder of the teacher’s employment with the District. Eligibility will occur only once. For example, teachers who became eligible during the 2007-2008 school year may retire and qualify for the 6% incentive providing they submit notice of intent to retire is submitted by July 30, 2007. The teacher would then receive a 6% aggregate salary increase for the 2007 -2008; 2008- 2009; and 2009-2010 school years. A teacher who has two years left between the date on which they first became eligible and the three year retirement window may give similar notice. The teacher would then receive a 6% increase in each of the two years remaining. Under no circumstances will a teacher receive more than three years of the 6% increase provided by this incentive. In addition, under no circumstances may a teacher elect additional new extra curricular assignments to bolster compensation above the maximum aggregate increase permitted by the 6% increase under the LERO. This Early Retirement Incentive shall only be available if the retiring teacher does not elect and receive an “additional new statutory retirement plan” which is unforeseen at the date of this contract. In the event that the current Early Retirement Incentive option is substantially modified or deleted by legislation, to the substantial financial detriment of the teacher, and the retiring teacher has previously given the Board a written notice of retirement under the ERO option, the teacher will be allowed to withdraw his or her resignation previously given and elect the Retirement Incentive benefits otherwise available under this contract. Alternatively, the Board may offer individual retirement incentive programs to teachers. Such retirement incentives shall be negotiated on an individual basis with the retiring teacher, a representative from the Association, and the Board. Such retirement agreements will be individually created to the mutual benefit of the Board and the retiring teacher shall not constitute precedent for other retirements, and such precedent shall not be grievable or subject to arbitration by the parties, the Association or other teachers.