Retirement Incentive Payment. An employee tendering an irrevocable letter of resignation, in conformance with the following conditions shall be eligible for a retirement incentive in each of his or her final four years of teaching service, subject to the following conditions:
Retirement Incentive Payment. Employees eligible to service retire under Article 6.62 are eligible for an additional retirement incentive payment of $10,000 to be paid with their severance pay as outlined in Article 6.61. The employee must provide an irrevocable letter of resignation, for purposes of retirement, by the date listed below: Anyone eligible to service retire at the end of the 2018-19 school year by February 1, 2019. Anyone first eligible to service retire at the end of the 2019-20 school year by December 1, 2019 Anyone first eligible to service retire at the end of the 2020-21 school year by December 1, 2020. This provision sunsets at the end of the contract, i.e., at the end of the 2020-21 contract year.
Retirement Incentive Payment. 1. Upon retirement only from public education with the Rapid River Public Schools, under the Michigan Public Schools Employee Retirement System, employees with sufficient years of active duty service within the Rapid River Public School system shall be eligible to receive a retirement incentive payment based on pay a pro-rated portion of their accumulated sick leave as of the time of retirement (each unused sick leave day paid at a percent of the employee's per diem rate, computed by dividing the employee's annual salary by the number of duty days per year multiplied by the applicable percentage rate), as set forth below: after ten (10) full school ) 25% of unused sick leave years of active service ) after fifteen (15) full ) 50% of unused sick leave years of active service ) after twenty (20) full ) 75% of unused sick leave years of active service )
Retirement Incentive Payment. For employees retiring with district-provided health insurance, the retirement incentive shall be eleven thousand dollars ($11,000) plus thirty dollars ($30) per sick day up to a maximum of two hundred (200) days. For employees declining health coverage in retirement, the retirement incentive shall be ten thousand dollars ($10,000) plus seventy-five dollars ($75) per sick day up to 200 days. Base Incentive ($11,000 or $10,000) $ Payment for Sick Days ($30 or $75 per day) $ per day (x) # of days (200 maximum) $
Retirement Incentive Payment. $ Should the Jefferson Central School District merge, be absorbed, consolidate or dissolve this document will remain in place. I have received the above information and agree with its contents.
Retirement Incentive Payment. A. Retirement incentive is offered to any administrator who is a member of the bargaining unit as of December 15, 2008 who becomes eligible or is eligible for retirement during the term of this agreement provided notice of such intention to retire is given in writing to the Superintendent of Schools by February 1. The incentive payment shall consist of a payment of 10% of the final annual base salary upon filing for retirement, 10% upon retirement, and 10% to be paid in equal installments on each administrator payroll date between the effective date of retirement and the end of the calendar year of retirement. In an emergency and at the discretion of the Superintendent of Schools, the date of notice may be waived.
Retirement Incentive Payment. 5. In consideration for the Employee’s promises in this Agreement, the University agrees to pay the Employee the sum of $ (the Incentive Payment), which represents 50% (fifty percent) of the Employee’s annualized University base salary. This payment shall be made only after the Effective Date of this Agreement, as defined in paragraph 22 of this Agreement.
Retirement Incentive Payment. 3 1. Upon retirement only from public education with the Rapid River Public Schools, under the Michigan 4 Public Schools Employee Retirement System, employees with sufficient years of active duty service within 5 the Rapid River Public School system shall be eligible to receive a retirement incentive payment based on 6 pay a pro-rated portion of their accumulated sick leave as of the time of retirement (each unused sick leave
