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).
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
