Retirement Bonus. 22:01 Employees retiring in accordance with the following:
(a) Retire at age sixty-five (65) years; or
(b) Retire after age sixty-five (65) years; or
(c) Have completed at least ten (10) years continuous employment and retire after age fifty-five (55) years but before age sixty-five (65) years;
(d) Employees who have completed at least ten (10) years continuous service with the Employer, whose age plus years of that service equal eighty (80); shall be granted retirement bonus on the basis of four (4) days per year of employment.
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. 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. 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.
2. To be eligible the employee shall complete all the necessary procedures and submit a resignation to the school board not later than the year of first eligibility to be effective at the end of the school year except in the case of DROP. Earlier resignations before the end of the school year based on extenuating circumstances shall be considered by the Board.
3. This benefit does not apply to any other year other than the first year in which an employee would be eligible for retirement as contained herein.
4. Upon acceptance of a completed submitted resignation by the Board from the employee, the employee would be eligible to receive ($ 2000) two thousand dollars upon termination. The date certain for payment of this benefit, if all the foregoing criteria are met, shall be June 21st of the year following the year of resignation.
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. 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.
2. The Bonus shall be twenty percent (20%) of one year's salary payable at the direction of the teacher no later than the end of the taxation year next following.
3. At the employee's cost, the Board shall continue to make available to retired employees who qualify under Article B.20.1, and their surviving spouses, if any, until age 65, medical, extended health, dental, and group life insurance coverage. Where similar coverage is provided by a pension plan, the retired employees, and surviving spouses, if any, may choose one plan, but may not enrol in two.
4. A maximum of eight (8) teachers will be eligible in any one year. If more than eight teachers apply, the eight teachers with the greatest district seniority shall receive the bonus.
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. An employee who retires under the Kent County Retirement Plan (other than a deferred retirement) who, as of the date of retirement, has unused reserve sick leave bank hours shall receive pension service credit for all reserve sick leave bank hours.
Retirement Bonus. Upon retirement, all regular employees who have completed five years’ service or more in a continuing appointment(s) with the Board shall be granted one week's pay for each year of service in a continuing appointment(s) at the F.T.E. of current appointment, not to exceed twenty
