Common use of Retirement Incentive Program Clause in Contracts

Retirement Incentive Program. A. For employees retiring from full-time service and who are retiring and terminating within the fiscal year (defined to allow completion of the current school year) in which they first become eligible for normal retirement as defined in 1, 2, and 3, the School Board will establish a temporary retirement incentive program, which will provide partial or full reimbursement of the retiree’s personal health insurance or health maintenance organization premiums until such time as the retiree becomes eligible for Medicare Parts A and B, at which time said reimbursement shall no longer be made.