Retirement Incentives. GM agrees to reimburse Delphi using the procedure set forth in section 3.04(d) herein for the USW Retirement Incentives actually paid by Delphi pursuant to Section C of the USW MOU-Home Avenue and Attachment C thereto.
Retirement Incentives. [a] Employees who: 1) have ten (10) years of Xxxxx School District service credit, including five (5) years of current service in the District; and 2) can meet the eligibility requirements for and will be receiving Utah State Retirement System benefits within ninety (90) calendar days following retirement, may apply on a non-discriminatory basis for the voluntary retirement benefits listed in this policy. Employees with at least five (5) but fewer than ten (10) years of Xxxxx School District service credit and who meet the above criteria, may also apply for these benefits on a pro rata basis. [b] Social Security Bridge Payments
(i) Social security bridge payments are intended to partially offset the reduction in Social Security benefits due to early retirement. Eligible retirees shall receive a contribution of sixteen percent (16%) of their earnings from their last twelve (12) months of employment into a qualified 403(b) account or a District sponsored Health Reimbursement Account, for three (3) years, or until they become eligible to receive unreduced social security benefits, whichever occurs first. The first payment shall occur within 180 days of retirement from the District. The second payment shall occur in February of the first year following a complete calendar year without contributions to the Utah Retirement System for the original position from which the employee retired. The third payment shall occur the following February.
(ii) Employees who meet the criteria in 4.5.5(a) and who have at least twenty-five (25) but fewer than thirty (30) years of salary service credit, may voluntarily authorize the District to purchase additional salary service credit for them in the Utah State Retirement System by applying some or all of their eligible early retirement incentive contribution on a one-time lump sum basis under the following conditions:
(1) Employees eligible for three (3) years of stipends shall be credited with a one-time lump sum contribution of forty-six percent (46%) of their annual salary to be applied toward the District's purchase of additional salary service credit.
(2) Employees eligible for two (2) years of contribution shall be credited with a one-time lump sum contribution of thirty-one percent (31%) of their annual salary. The District shall apply this contribution toward the purchase of additional salary service credit for the employees in the Utah State Retirement System.
(3) Employees eligible for one (1) year of contribution shal...
Retirement Incentives. 16.1 The District shall provide members with options for part-time employment to phase in their voluntary retirement programs. The phasing from full-time employment through part-time employment into full retirement is intended to take place over a period not to exceed five (5) years.
16.1.1 It shall be District policy to utilize Education Code Section 44922 to make phase-in retirement programs available to members.
16.1.2 The members may elect the program at the age of 55
16.1.3 To be eligible, the member must have been employed full-time in a position requiring certification for at least ten (10) years of which the immediately preceding five (5) years were full-time employment in the Xxxxxx Valley Unified School District.
16.1.4 The contract shall call for a reduced workload which is the equivalent of not less than one- half the number of days of service required by the contract of employment during the teacher's final year of service in a full-time position. In elementary grades, the normal arrangement is presumed to be one semester of teaching and one semester off, unless some other arrangement has been agreed to by District management, principal/program manager and teacher.
16.1.5 The member shall be paid a salary which is the pro rata share of the salary that would be earned had the teacher not elected to exercise the option of part-time employment.
16.1.6 The District and the member shall continue to pay retirement contributions at the full-time salary level, and the teacher shall continue to receive health benefits as provided in Section 53201 of the Government Code in the same manner as a full-time employee.
16.1.7 Sick leave entitlement shall accrue in an amount proportionate to the level of employment. (Example: A half-time teacher would accrue five (5) days.)
16.1.8 The option of part-time employment must be exercised at the request of the teacher and can be revoked only with the mutual consent of the District and the teacher.
16.1.9 The specific assignment for the first year of a member's phase-in retirement program must be satisfactory to District management, principal/program manager and the teacher. A conscientious effort will be made to provide the same, comparable or other appropriate assignments in succeeding years if the phase-in to retirement plan extends beyond one (1) year.
16.2 A Career Enhancement Incentive Program (CEIP) shall begin to sunset effective July 1, 2016. Under the provisions in place for members that retired prior to Ju...
Retirement Incentives. Unit members who inform the Board of their June 30th retirement by January 15th of that year will receive an additional one thousand dollars ($1,000.00) in salary.
Retirement Incentives. The parties agree to provide Supplemental Employee Retirement Plans at the discretion of management when appropriate to maintain the sustainability of the utility. The Supplemental Employee Retirement Plan will be for two years of service credit with the contract to be with Public Agency Retirement System (PARS).
Retirement Incentives. A) One-Time Retirement Incentive: For 2006-2007, and subsequent years, the Retirement Incentive will be in effect permanently, unless modified in the future by negotiation between the Henryetta School Board and HEA. If requested by either party, said Retirement Incentive will have to be re-negotiated again for any future school year. The details and requirements regarding this negotiated item are specified below to any teacher who meets the following requirements.
Retirement Incentives. For professional employees who are currently employed under the Collective Bargaining Agreement July 1, 2017- June 30, 2020, a maximum of three professional employees who have reached the age of 57 and who have worked for 15 years within the Inter-Lakes School District as a professional employee will be eligible in their final year of employment for retirement incentives equal to 50 percent of the retiree’s highest earned salary in the District. Eligibility will be determined by the age of the retiree on June 30 of the final year of
Retirement Incentives. The District and the Association recognize that, depending on the needs of the District and the interest of the Association membership, there is a mutual interest in offering early retirement incentives to membership. However, it is also recognized that the rules and regulations relating to early retirement are constantly changing, and that the interest in early retirement can also increase or decrease. Therefore, the District and the Association agree to use their best efforts to develop and present early retirement incentives as warranted by the needs of the District and the interests of the membership as these needs and interests arise. The District and the Association are free to agree upon criteria and sunset provisions for Association members to qualify for early retirement benefits, and these criteria may change as rules, regulations and other conditions change, so long as such criteria changes are mutually agreed upon. Early retirement incentives may include, but not necessarily be limited to, continued health and welfare benefits, one-time lump-sum payments, annuity payments, or any other incentives that would encourage qualified Association members to retire early. The District and the Association are free to work together to use whatever means are reasonably available to meet the needs of the District and the interests of the Associations members, including but not limited to private organizations and CTA consultant(s).
Retirement Incentives. Should any sum due to be paid be required to be paid by the district on the teacher’s behalf on account of his/her retirement which, hereafter, may be required by law, the provisions of these incentives shall have no force or effect and Article 35 shall be deemed void by the Board and Union. If any such sum is due and Article 35 is voided as provided herein, the Teacher shall reimburse the district the entire amount. In such an event, the obligation of the Teacher to repay the district shall remain despite Article 35 being voided.
Retirement Incentives. If the County offers early retirement incentives to other bargaining units they will also agree to discuss the subject with Association.
