Retirement Incentive Benefit Plan Sample Clauses

Retirement Incentive Benefit Plan. The Board shall recognize the service of full-time teachers who have rendered a total of at least eighteen (18) years of creditable service to the District, a minimum of 10 years consecutive, and who are eligible to receive retirement pension benefits through the regular provisions of the Teachers’ Retirement System of the state of Illinois. This incentive program excludes any teacher eligible to receive any retirement option under the “Early Retirement Option” provision of the TRS Illinois Pension Act or any other program sponsored by the State of Illinois.
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Retirement Incentive Benefit Plan. The Board shall recognize the service of teachers who have rendered at least ten (10) years of creditable service to District 73½ immediately preceding retirement, and who are eligible to receive regular retirement pension benefits through the Teachers’ Retirement System of the State of Illinois under the following plan.
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Retirement Incentive Benefit Plan. The Board shall recognize the service of full- time teachers who are eligible to receive retirement pension benefits through the regular retirement provisions of the Teachers’ Retirement System of the state of Illinois (i.e. excluding those teachers eligible to receive any retirement option under the “early Retirement Option” provision of Section 16-133.2 of the TRS Illinois Pension Act).
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Retirement Incentive Benefit Plan. The Board shall recognize the service of full-time IMRF bargaining unit members who have rendered at least twenty (20) years of creditable service to District 3 immediately preceding retirement.
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Retirement Incentive Benefit Plan. The Board will recognize the service of support personnel who have rendered at least ten (10) continuous years of creditable service to the District immediately preceding retirement, and who are eligible to receive regular retirement pension benefits through Illinois Municipal Retirement Fund (IMRF).
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Retirement Incentive Benefit Plan. The Board shall recognize the service of full-time teachers who have rendered a total of at least ten
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Retirement Incentive Benefit Plan. Administrators are required to provide notification of retirement 6 months prior to their actual retirement date. Administrators who are eligible without reduction in benefits to retire under the rules governing the New York State Teachers Retirement System shall receive $100 for each unused sick day, up to a maximum of 350 days for the period of July 1, 2017 through June 30, 2019. Beginning July 1, 2019, the maximum unused sick time will be 300 days.
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Retirement Incentive Benefit Plan 
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Related to Retirement Incentive Benefit Plan

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement at the beginning of the following school year. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year of the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the year of submission, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the year of submission. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

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