Common use of Retirement Incentive Plan Clause in Contracts

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. Early Retirement Incentive Plans are available to bargaining unit members who qualify as outlined out- lined 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.