Common use of RETIREMENT INCENTIVE PROGRAM BENEFIT Clause in Contracts

RETIREMENT INCENTIVE PROGRAM BENEFIT. As a voluntary retirement benefit for a teacher who qualifies for retirement the Board agrees to: (a) pay a salary in his/her final year(s) of service equal to one hundred three six percent (103106%) of the previous year's gross TRS reported compensation (defined as all compensation paid to the teacher, including payment for extracurricular activities, stipends, and retirement benefits) inclusive of step and lane movement for a maximum of four two (42) years prior to retirement, as the case may be. To be eligible for continued payment for extracurricular activities or stipends during this period, the teacher must continue to work such activity or stipend. ; and However, earnings that are legally exempt from the state imposed "3% liability" rule in effect at the time of ratification of this Agreement, or which shall be enacted within the scope of this agreement, shall not be considered in the calculation of the 3% increase limitation. Such exempt earnings include but may not always be limited to and may not always include: • summer school teaching paid pro-rata • overloads paid pro-rata • change in employment status from part-time to full-time paid pro-rata • promotions requiring a certificate or endorsement that is different from regular certification of the job • grants or stipends that come from state or federal government and for which the District has no control over; and (b) pay him/her a one-time lump sum post-retirement payment in an amount equivalent to $50 for each unused sick leave day in excess of 170 that is not reported to TRS for service credit up to a maximum of one hundred (100) days, for a maximum payment amount of $5,000. The post-retirement payment shall be payable after both the teacher's final paycheck for regular earnings and the teacher's last day of employment, but before December 31 of the year of retirement. (c) With respect to the application of the benefit in Section 3(a), the Board and Association agree that: • A bargaining unit member may voluntarily resign from an extra duty assignment; provided, however, the member's compensation would be reduced accordingly. Elimination of a program would require a mutually agreeable alternative assignment. • A bargaining unit member who takes courses or would otherwise move on the salary schedule or move on the extra- compensation schedule would receive no additional compensation beyond the 6% retirement incentive. • The Association agrees that the Board will not require assigned work that would result in creditable earnings that would result in an increase in excess of 6% over the previous year's creditable earnings.

RETIREMENT INCENTIVE PROGRAM BENEFIT. As a voluntary retirement benefit for a teacher who qualifies for retirement the Board agrees to: (a) pay a salary in his/her final year(s) of service equal to one hundred three six percent (103106103%) of the previous year's gross TRS reported compensation (defined as all compensation paid to the teacher, including payment for extracurricular activities, stipends, and retirement benefits) inclusive of step and lane movement for a maximum of four two (424) years prior to retirement, as the case may be. To be eligible for continued payment for extracurricular activities or stipends during this period, the teacher must continue to work such activity or stipend. ; and However, earnings that are legally exempt from the state imposed "3% liability" rule in effect at the time of ratification of this Agreement, or which shall be enacted within the scope of this agreement, shall not be considered in the calculation of the 3% increase limitation. Such exempt earnings include but may not always be limited to and may not always include: • summer school teaching paid pro-rata • overloads paid pro-rata • change in employment status from part-time to full-time paid pro-rata • promotions requiring a certificate or endorsement that is different from regular certification of the job • grants or stipends that come from state or federal government and for which the District has no control over; and (b) pay him/her a one-time lump sum post-retirement payment in an amount equivalent to $50 for each unused sick leave day in excess of 170 that is not reported to TRS for service credit up to a maximum of one hundred (100) days, for a maximum payment amount of $5,000. The post-retirement payment shall be payable after both the teacher's final paycheck for regular earnings and the teacher's last day of employment, but before December 31 of the year of retirement. (c) With respect to the application of the benefit in Section 3(a), the Board and Association agree that: • A bargaining unit member may voluntarily resign from an extra duty assignment; provided, however, the member's compensation would be reduced accordingly. Elimination of a program would require a mutually agreeable alternative assignment. • A bargaining unit member who takes courses or would otherwise move on the salary schedule or move on the extra- compensation schedule would receive no additional compensation beyond the 663% retirement incentive. • The Association agrees that the Board will not require assigned work that would result in creditable earnings that would result in an increase in excess of 663% over the previous year's creditable earnings.

RETIREMENT INCENTIVE PROGRAM BENEFIT. As a voluntary retirement benefit for a teacher who qualifies for retirement the Board agrees to: (a) pay a salary in his/her the final year(s) of service equal to one hundred three six percent (103106106%) of the previous year's ’s gross TRS reported compensation (defined as all compensation paid to the teacher, including payment for extracurricular activities, stipends, stipends and retirement benefits) inclusive of step and lane movement for a maximum of four two five (425) years prior to retirement, as the case may be. To be eligible for continued payment for extracurricular activities or stipends during this period, the teacher must continue to work such activity or stipend. ; and However, earnings that are legally exempt from the state imposed "3“6% liability" ” rule in effect at the time of ratification of this Agreement, or which shall be enacted within the scope of this agreement, shall not be considered in the calculation of the 3% six percent (6%) increase limitation. Such exempt earnings include but may not always be limited to and may not always include: • summer school teaching paid pro-rata • overloads paid pro-rata • change in employment status from part-time to full-time paid pro-pro- rata • promotions requiring a certificate or endorsement that is different from regular certification of the job • grants or stipends that come from state or federal government and for which the District has no control over; and (b) pay him/her a one-time lump sum post-retirement payment in an amount equivalent to $50 for each unused sick leave day in excess of 170 that is not reported to TRS for service credit up to a maximum of one hundred (100) days, for a maximum payment amount of $5,000. The post-retirement payment shall be payable after both the teacher's final paycheck for regular earnings and the teacher's last day of employment, but before December 31 of the year of retirement. (c) With respect to the application of the benefit in Section 3(a), the Board and Association agree that: • A bargaining unit member may voluntarily resign from an extra duty assignment; provided, however, the member's ’s compensation would be reduced accordingly. Elimination of a program would require a mutually agreeable alternative assignment. • A bargaining unit member who takes courses or would otherwise move on the salary schedule or move on the extra- compensation extra duty schedule would receive no additional compensation beyond the six percent (6% %) retirement incentive. • The Association agrees that the Board will not require assigned work that would result in creditable earnings that would result in an increase in excess of six percent (6% %) over the previous year's ’s creditable earnings.

RETIREMENT INCENTIVE PROGRAM BENEFIT. As a voluntary retirement benefit for a teacher who qualifies for retirement the Board agrees to: (a) pay a salary in his/her final year(s) of service equal to one hundred three six percent (103106103%) of the previous year's gross TRS reported compensation (defined as all compensation paid to the teacher, including payment for extracurricular activities, stipends, and retirement benefits) inclusive of step and lane movement for a maximum of four two (424) years prior to retirement, as the case may be. To be eligible for continued payment for extracurricular activities or stipends during this period, the teacher must continue to work such activity or stipend. ; and However, earnings that are legally exempt from the state imposed "3% liability" rule in effect at the time of ratification of this Agreement, or which shall be enacted within the scope of this agreement, shall not be considered in the calculation of the 3% increase limitation. Such exempt earnings include but may not always be limited to and may not always include: • summer school teaching paid pro-rata • overloads paid pro-rata • change in employment status from part-time to full-time paid pro-rata • promotions requiring a certificate or endorsement that is different from regular certification of the job • grants or stipends that come from state or federal government and for which the District has no control over; and (b) pay him/her a one-time lump sum post-retirement payment in an amount equivalent to $50 for each unused sick leave day in excess of 170 that is not reported to TRS for service credit up to a maximum of one hundred (100) days, for a maximum payment amount of $5,000. The post-retirement payment shall be payable after both the teacher's final paycheck for regular earnings and the teacher's last day of employment, but before December 31 of the year of retirement. (c) With respect to the application of the benefit in Section 3(a), the Board and Association agree that: • A bargaining unit member may voluntarily resign from an extra duty assignment; provided, however, the member's compensation would be reduced accordingly. Elimination of a program would require a mutually agreeable alternative assignment. • A bargaining unit member who takes courses or would otherwise move on the salary schedule or move on the extra- compensation schedule would receive no additional compensation beyond the 6% retirement incentive. • The Association agrees that the Board will not require assigned work that would result in creditable earnings that would result in an increase in excess of 6% over the previous year's creditable earnings.