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:
1. Custodians/Maintenance/Mechanics
2. Bus Drivers, Food Service, and Paraprofessionals Employees working 15 or more hrs. per week $15.00/day Employees working less than 15 hrs. per week $10.00/day.
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. 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 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):
b. The Fifteen Thousand Dollar ($15,000) retirement incentive pay will be distributed to the retiree based on the following schedule: $5,000 – in year of retirement; $5,000 -- the January following retirement; $5,000 – during the second January following retirement.
c. Eligible employees who desire to participate in the plan must submit written notice of intent to retire by completing the teacher portion of the State Teachers Retirement Form and by submitting it to the Treasurer on or before March 1st of the applicable school year.
d. Eligibility of $15,000 early retirement payment and/or $2,500 maximum sick leave accrual bonus are subject to notification of retirement by submitting retirement/resignation letter to the Superintendent by March 1st and five consecutive years of employment in West Xxxxxx District or a minimum of 10 years combined service with West Xxxxxx District.
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.
2. The following requirements must be met in order to receive the $5,000 retirement payment:
a. Submit retirement/resignation letter to the Superintendent by March 1st of school/contract year.
b. Verification from SERS showing you are in your 30th year of service.
c. SERS verification sheet submitted to the treasurer by March 1st.
d. Employee must have five (5) consecutive years of employment in the West Xxxxxx District or a minimum of ten (10) years combined service with West Xxxxxx District.
3. Severance is only available to active West Xxxxxx employees.
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 fifteen (15) years of full-time continuous employment service with the School District, and who are at least fifty (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.
B. Only unit members in their first year of retirement eligibility will be eligible for this retirement incentive.
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.
B. Only unit members in their first year of retirement eligibility will be eligible for this retirement incentive.
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.
B. A bargaining Unit member who certifies that he or she will retire from City service on a specific date during the implementation period shall be eligible to convert the active bonuses described in 6.1 C, 6.1 D, or 6.1 E into a pensionable, “Adds to Rate” bonus covering a maximum of 26 pay periods or one year as indicated below.
C. To qualify for RIP, a Unit member must complete an Application and Employee Agreement, as prescribed by the City Administrative Officer (CAO), Employee Relation Division, that specifies a date that the member will retire from City service during the implementation period. This Application and Employee Agreement is irrevocable, except as required by law, and the member must retire within 30 days of the specified date of retirement on the Application and Employee Agreement. The RIP program is not subject to the grievance procedure as outlined in Section
