Retirement Bonus. 22:01 Employees retiring in accordance with the following:
Retirement Bonus. Employees who have completed 10 years or more of continuous employment shall be given, upon retirement, a cash bonus equal to one month’s pay. The retirement bonus may be paid in cash or by transfer to an employee’s Registered Retirement Savings Plan (RRSP), at the employee’s option.
Retirement Bonus. 1. An employee is eligible only once for this benefit. The eligibility period would be a portion of the year as defined herein in which the employee becomes eligible to retire for the first time with full benefits under an existing state retirement system plan and has creditable service as defined by Florida Statutes of not less than thirty (30) years. The 30 years applies to termination at the time of service retirement or entry into DROP.
Retirement Bonus. 35-1: All PERA Retirees not covered by the Retirement Bonus Program may work in a position subject to membership up to 110 days or 720 hours per calendar year for one additional year (Refer to the Post Retirement Re-employment Option available through the District Personnel Office. If working four (4) hours per day or less, a total of 720 hours may be worked in the calendar year.
Retirement Bonus. 1. The Board shall pay a retirement bonus to an employee who is at least 55 years old and who has ten (10) or more years of service with the Board. Employees applying for the retirement bonus shall do so by May 1 with a resignation date effective June 30 of any year if their application is accepted.
Retirement Bonus. A. Any member of the bargaining unit who was employed on or prior to June 30, 2009 and retires by the end of the fiscal year in which they first become eligible for normal retirement (62 years of age or 30 years of service), under the Florida Retirement System shall be paid a one-time retirement bonus equal to twenty-five percent (25%) of the gross salary excluding supplements, earned by him or her during the said school year, which bonus shall be added to his or her annual salary and shall be paid during the month of June.
Retirement Bonus. 1. Regular full-time employees who have completed 15 years of full-time continuous employment with the St. Xxxxx County School District to include the school year at the time of retirement with the Florida Retirement System (FRS) Pension Plan shall receive a retirement bonus of $3,000.00 An additional $250.00 shall be added for each year of continuous full-time employment with the St. Xxxxx County School District beyond the initial 15 years up to a maximum of thirty
Retirement Bonus. Employees who were employed by the District during the 1992-93 school year and retire from the District on or after July 1, 1994 under the California State Teachers Retirement System, (CalSTRS) or California Public Employees Retirement System (CalPERS) shall receive a lump-sum bonus upon retirement. The bonus will partially compensate such employees for loss of compensation during the fiscal crisis faced by the District during these years.
Retirement Bonus. Regular employees who are eligible for IMRF retirement and meet all IMRF retirement requirements with a minimum of 15 years of total service, with the xxxxx 0 years being continuous service, shall receive an increase to total 6% of the previous year’s hourly rate for the final two years of service. Upon notification to the district by the employee by August 15 the District will increase the base hourly rate by 6% In the event the employee does not give notice by August 15, in the first of the two years, the 6% bonus will be forfeited for the first year. For IMRF employees that do not give notice by August 15 in the final year prior to retirement, a 6% rate increase bonus check will be given 3 months after the last day worked for one year of base service. Retirement bonuses will be effective at the start of a school year and will not be calculated for partial school years in first year of a two (2) year retirement. If the retirement date is any date other than July 1, (last day of work June 30), all vacation time must be taken prior to the retirement date. In the event the employee does not retire, any bonus paid shall be repaid to the District in full.
Retirement Bonus. The Board of Education shall provide a $7000 retirement bonus to any teacher in his or her final year of service provided: 1) the teacher submits to the Board an irrevocable letter of retirement/resignation by February 15 of his or her final year of service, or if the 15th falls on a weekend or holiday, by the following school day; 2) The teacher will have 18 years of service with the district upon retirement; and 3) The teacher will be at least 60 years of age or will have at least 35 years of creditable service and will not retire under the statutory early retirement option causing the district to have to pay a penalty or other monies to the Teachers’ Retirement System. The retirement bonus shall be paid in the month of retirement, or if earlier notice is given, the teacher may at his or her option spread out the bonus over the teacher’s final four years of service. The teacher shall be responsible for making the teacher’s contribution to TRS for any payment made under this section. Should the payment of this bonus cause an increase of more than 6% in the teacher’s total creditable earnings in the final year of service or in any of the teacher’s final four years of service when compared to the previous year’s creditable earnings, then any amount in excess of the six percent increase shall not be classified as creditable earnings in that year and shall be paid in a lump sum payment during the payroll period immediately following the teacher’s last day of service and after receiving his or her final paycheck.
