Retirement Incentive Plan. A remittance for each Employee covered un- der this Agreement, of $ 0.67 May 1, 2019 (May 1, 2020 $ 0.69; May 1, 2021 $ 0.72) per paid hour.
Retirement Incentive Plan. The Retirement Supplement Plan for employees meeting the eligibility requirements below and who retire on or after January 1, 2006 shall be as follows:
Retirement Incentive Plan. Early Retirement Incentive Plans are available to bargaining unit members who qualify as outlined below provided bargaining unit members retire with SERS by the end of their contract year in which they become eligible for one of the plans. Bargaining unit members who are in their first year of eligibility to retire at the end of FY 10 may have up to one (1) year from the adoption of this Negotiated Agreement to utilize this incentive. Bargaining unit members must notify the Board, in writing, at least three (3) months before the date of retirement in order to receive this incentive.
Retirement Incentive Plan. Employees who meet the requirements described in this Article may receive either the retirement incentive under Section 11.1 or the sick day buyback under Section 11.2, whichever is greater. No employee may receive both the retirement incentive and sick day buyback.
Retirement Incentive Plan. 1. Option 1 – Post Retirement Option - District 62 School Board Policy 5.285.
a. Retirement benefit and limitations as defined in District 62 School Board Policy 5.285.
Retirement Incentive Plan. A. Teachers who retire under the service or disability retirement provisions of the NYSTRS, and who are not “vesting” and who will be eligible to receive a pension, and who have a minimum of 20 years of credited NYSTRS service and 10 years of Xxxxxx service at the time of their retirement will receive payment for unused accrued sick leave on a “1 for 3" basis. To be eligible for this benefit, a written resignation for the purpose of retirement must be received no later than four months prior to the retirement date of the employee. If the resignation for the purpose of retirement is received by the District between 12 months and 4 months prior to the retirement date, the retiring employee may, at his/her option, have this sick leave payout spread in equal installments over his/her remaining paychecks, less an amount held in escrow to cover possible use of some of the available sick days. Otherwise, the payment will be made within 30 days of the teacher’s retirement date.
B. The District will continue whatever the District currently provides regarding hospitalization and if the carrier approves, the right to continue his/her own participation in the District’s group dental and life insurance program.
Retirement Incentive Plan. A. The summary statement of the Retirement Incentive Plan is as follows: Employees who qualify for the Retirement Incentive Plan are eligible to receive one third (1/3) of their last years pay as a cash bonus. This bonus will be paid in addition to other retirement benefits such as cash payments for unused Sick Leave pay (severance pay).
1. The employee must be eligible for retirement and retire by July 1 of each year.
2. The employee must have ten (10) or more full years of continuous Garfield District full-time service since his/her most recent date of employment or reemployment, and must be in an active state of employment at the time of retirement.
3. The employee must submit a request to be included in this Plan by April 1 prior to the date of retirement. The appropriate request forms will be located in the Superintendent's office.
Retirement Incentive Plan. A. The summary statement of the Retirement Incentive Plan is as follows: Employees who qualify for the Retirement Incentive Plan are eligible to receive twenty-five thousand dollars ($25,000) as a cash bonus. This bonus will be paid in addition to other retirement benefits such as cash payments for unused Sick Leave pay (severance pay).
1. The employee must be eligible for retirement and retire by July 1 of each year.
2. The employee must have ten (10) or more full years of continuous Garfield District full-time service since his/her most recent date of employment or reemployment, and must be in an active state of employment at the time of retirement.
3. The employee must submit a request to be included in this Plan by March 1 prior to the date of retirement. The appropriate request forms will be located in the Superintendent’s office.
4. a. The Retirement incentive Plan will be extended to those employees eligible by STRS standards requesting the Plan. The amount of the Incentive Plan is $25,000.
Retirement Incentive Plan. Bargaining Unit personnel who are fifty-five (55) years old or older on or before June 30 of any school year, shall be eligible for an early retirement incentive to be paid one time in one lump sum equal to $100.00 per year of service within the district.
Retirement Incentive Plan. Effective July 30, 2015 the retirement incentive program shall be eliminated in its entirety. Qualified employees shall be eligible for severance pursuant to Section 13.04.
