RETIREMENT GRATUITY PLAN. 12.01 A teacher with a minimum of ten (10) consecutive years of service as a teacher with the Board or a predecessor thereof, to the date of retirement shall be granted a gratuity based on the accumulated yearly credits and the highest annual salary during the five (5) years prior to retirement. 12.02 Only credits earned by the teacher during employment with the Board or a predecessor thereof shall be used in the calculation of the gratuity.
Appears in 3 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
RETIREMENT GRATUITY PLAN. 12.01 A teacher with a minimum of ten (10IO) consecutive years of service as a teacher with the Board or a predecessor thereof, to the date of retirement shall be granted a gratuity based on the accumulated yearly credits and the highest annual salary during the five (5) years prior to retirement.
12.02 . Only credits earned by the teacher during employment with the Board or a predecessor thereof shall be used in the calculation of the gratuity.. Credits will be accumulated as follows:
Appears in 1 contract
Samples: Collective Agreement
RETIREMENT GRATUITY PLAN. 12.01 A teacher with a minimum of ten (10) consecutive years of service as a teacher years’ with the Board or a predecessor thereof, to the date of retirement shall be granted a gratuity based on the accumulated yearly credits and the highest annual salary during the five (5) years prior to retirement.
12.02 Only credits earned by . Each teacher be given a credit of two percent for each year’s service with the Board or predecessor thereof prior to September Commencing In September a teacher during employment will given a percentage for each of service with the Board or a predecessor thereof shall be used in based on the calculation following table: Year at the End of the gratuity.Each Year
Appears in 1 contract
Samples: Collective Agreement
