Retirement Incentive Pay. An employee with ten (10) years or more of service within the bargaining unit upon retirement, shall be compensated for any unused accumulated sick leave as follows:
Retirement Incentive Pay. Subd. 1. Exclusion: This Section will apply only to employees whose service in any capacity with the School District has been full-time and continuous as defined by this Agreement and whose service began prior to July 1, 1998. For employees whose employment began after this date, the provisions of this Section will not be applicable.
Retirement Incentive Pay a. For teachers who retire effective at the end of the school year in which they first become eligible to retire under this contract, pursuant to STRS rules and Ohio law, said teachers shall receive a payment of Fifteen Thousand Dollars ($15,000) in addition to the severance pay benefit described in 1. above. First eligible is defined as follows (per STRS retirement eligibility rules): 2019-2020 = 33 years 2020-2021 = 33 years 2021-2022 = 34 years
Retirement Incentive Pay. Subd. 1. Eligibility: Full-time employees who have completed at least 15 years of continuous employment service, in any capacity with the school district and who are at least 50 years of age will be eligible for retirement incentive pay pursuant to the provisions of this section upon submission of a written resignation accepted by the school board.
Retirement Incentive Pay. 1. For classified employees who retire effective at the end of the school year in which they first become eligible to retire under this contract with thirty (30) years of service with SERS, employee shall receive five thousand ($5,000) in addition to the severance pay benefit.
Retirement Incentive Pay. Subd. 1.
Retirement Incentive Pay. Subd. 1. Eligibility: Full-time AESP employees (32 hours or more), whose service began prior to July 1, 1994 and who have completed at least 15 years of full-time continuous employment service with the School District, and who are at least 50 years of age, will be eligible for retirement incentive pay pursuant to the provisions of this Section upon submission of a written resignation accepted by the School District. For this section only, additional seniority eligibility credit will be given to an AESP who has continuous experience with the District in the ESP unit as a Clerical ESP and who was hired in the ESP unit prior to July 1, 2002. Years of service in the School District must have been as a Clerical Educational Support Professional and/or an Administrative Educational Support Professional. Subd. 2. Exclusion: This Section will apply only to eligible employees as defined in Subdivision 1 above and whose service began prior to July 1, 1994. For employees whose employment began after this date, the provisions of this Section will not be applicable.
Retirement Incentive Pay. A. Beginning with retirements occurring after July 1, 2010, if a unit member retires in the first year that he/she is eligible to retire pursuant to SERS regulations as they may be amended over time, he/she will receive forty (40) additional days of severance pay. The additional severance pay would be paid based on the unit member's per diem rate at the time of retirement.
Retirement Incentive Pay. A. If a unit member retires in the first year that he/she is eligible to retire pursuant to STRS regulations, he/she will receive forty (40) additional days of severance pay. The additional severance pay would be paid based on the unit member's per diem rate at the time of retirement.
Retirement Incentive Pay. A. The “implementation period” used in this Retirement Incentive Pay (RIP) shall be defined as the period beginning on first pay period after adoption of this MOU by the City Council to June 28, 2025, inclusive.
