Retirement Incentive Plan Reopener. If the Illinois legislature subsequently enacts legislation further limiting annual percentage increases allowable as TRS creditable earnings for the purpose of calculating teacher pensions or requiring additional Board contributions for TRS creditable teacher salary increases in excess of specified percentages, the Board and the PREA agree to meet and revise this provision to provide alternate methods of distributing the supplemental retirement benefit due to teachers without increasing the Board’s monetary obligation in a manner that would minimize any negative impact on the teacher’s retirement annuity.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
