RETIREMENT AND SEVERANCE PAY. A. Educational support employees working for the Board at the time of official retirement (or at the time of death, said beneficiary) shall receive retirement pay of forty percent (40%) of the accumulated sick leave at the final rate of pay. To be eligible, the educational support employee must have served ten (10) consecutive years in the Xxxxxxxxx County school system.
RETIREMENT AND SEVERANCE PAY. The Board shall xxxxx xxxxxxxxx to a teacher upon retirement or death. The teacher or the estate, in the event of death, shall receive within thirty (30) days of the last day of service severance pay computed from the teacher's current per diem rate of pay and based on one- fourth (1/4) of accumulated sick leave to a maximum of 300 days and personal leave of the teacher at the time of retirement or death.
RETIREMENT AND SEVERANCE PAY. Upon retirement, as hereinafter defined, bargaining unit members shall be entitled to their accumulated and unused Sick Leave at the time of retirement, up to a maximum of one-fourth (1/4) of two hundred (200) days. Additionally, bargaining unit members shall be entitled to twenty percent (20%) of the total number of days of accumulated Sick Leave above and beyond the two hundred (200) days. Xxxxxxxxx pay is calculated strictly based upon the bargaining unit member’s per diem pay rate that is in effect at the time the employee retires, unless the bargaining unit member (1) is a long-term employee (i.e., an individual who has worked for the Board for at least ten (10) years at the time he/she elects to retire), (2) is employed at the time of retirement in a position with fewer hours than he/she worked in the District for the majority of his/her career for reasons solely controlled by the Board (e.g., the Board implemented a Reduction in Staff that resulted in the employee’s previous number of hours being involuntarily reduced), and (3) the reduced hour assignment has been in place for three (3) or fewer years at the time the bargaining unit member retires, in which case the employee’s severance pay will be calculated utilizing a per diem daily rate that is comparable to what the employee’s compensation would have been if he/she was serving in the same position to which he/she was assigned just prior to the involuntary reduction in hours.
RETIREMENT AND SEVERANCE PAY. A. Upon retirement as an Indiana public elementary or secondary school teacher, a teacher may qualify for severance pay of $570 for teachers on the bachelor’s scale and $610 for teachers on the master’s scale times the number of years teaching experience for which they qualify. In order to qualify for the above rate of severance pay, a teacher must have a minimum of ten (10) years experience in the Southern Xxxxx Community School System. A retiring teacher must be at least 50 years of age to be eligible for severance pay. In the event that earlier retirement is necessitated because of physical or mental disability, the Board will decide each case on its own merits.
RETIREMENT AND SEVERANCE PAY. A. The severance pay for non-certificated personnel shall be calculated upon the unused accumulated sick leave to the credit of that employee upon retirement.
RETIREMENT AND SEVERANCE PAY. Section 1
RETIREMENT AND SEVERANCE PAY a. A teacher who intends to retire shall give the Superintendent written notice of his/her intent by February 15 of the teacher’s final school year.
RETIREMENT AND SEVERANCE PAY. 1. Upon retirement for not less than five (5) years of employment with the Defiance City Board of Education, regular employees shall be entitled to severance pay based upon the monetary value of their accumulated and unused sick leave, at the time of retirement, at the rate of 1/4 unused sick leave, up to a maximum seventy five
RETIREMENT AND SEVERANCE PAY. 49.01 In addition to the pension benefits provided within this agreement, on reaching retirement under the pension plan a full time employee shall receive a lump sum equivalent to fifty (50%) percent of his or her unused accumulated sickness and accident benefits under Article 27
RETIREMENT AND SEVERANCE PAY. A. Employees who upon permanent retirement and qualify for MPSERS, and have been employed by the District for at least ten (10) consecutive years, will receive a severance pay based upon the following: Years of Service Amount 10-15 years $600.00, plus $20.00 for each accumulated sick day 16-20 years $800.00, plus $20.00 for each accumulated sick day 21+ years $1,000.00, plus $20.00 for each accumulated sick day
