RETIREMENT INCREMENT Clause Samples
RETIREMENT INCREMENT. A retiring Director of Human Resources with ten years of service to the Burnt Hills-Ballston Lake Central School District shall receive a retirement termination increment of $12,500. This payment shall be made at the time of retirement. To receive this increment and benefit, an administrator must submit a resignation for retirement purposes, in writing, to the Superintendent of Schools by January 1 in the year the administrator intends to retire. In addition, this written resignation must be received at least six (6) months prior to the effective date of retirement, which must occur by no later than June 30 of the retirement year. Any other arrangement must be mutually agreed upon between the retiring administrator and the Superintendent. The termination increment will be deposited into a 403b account for the retiring administrator within 60 days following the date of retirement.
RETIREMENT INCREMENT. Up to two thousand dollars ($2,000.00) of the vested Retirement 2 Sick Leave Amount [or such larger amount as may be subsequently allowed as additional 3 compensation for Indiana State Teachers Retirement Fund purposes] shall be paid to the 4 retiring teacher, less applicable withholdings, in the year of retirement.
RETIREMENT INCREMENT. 37.1 A teacher, who as of the effective date of retirement will have completed fifteen (15) years of full time service in the Hull Public Schools, upon notification of retirement three (3) years in advance, shall be paid a $2,400 retirement increment in equal installments over the last three (3) years of employment.
37.2 Any teacher who desires to withdraw notice of retirement must petition to the School Committee no later than ninety (90) days prior to the retirement date the School Committee will consider emergencies and unavoidable hardships in reaching its decision. Should the petition be approved by the School Committee, repayment of all money received under this Article must be made within thirty (30) days of the approval date.
RETIREMENT INCREMENT. For retiring supervisors with ten years of Burnt Hills service who are eligible and apply for New York State Retirement and who have submitted a letter of resignation to the Superintendent of Schools at least 60 calendar days prior to the effective retirement date, shall be compensated for unused sick days at the rate of $70 per day. These funds shall be distributed to the employee’s 403b account within 30 days of retirement. The effective retirement date will be used to determine the total number of accumulated unused sick days. In addition, each retiring organization member who meets the eligibility criteria stated in the preceding paragraph will receive a retirement termination increment equal to $12,500. These funds shall be distributed to the employee’s 403b account within 30 days of retirement.
RETIREMENT INCREMENT. Section 15.01 Any professional employee who plans to retire, and so notifies the Board of School Directors on or before March 1 (except for extenuating circumstances) of their last school year of employment, shall receive as per PSERS regulations, in addition to that specified by the salary schedule, a minimum of $600 with no maximum as determined by years of service in the district. Each year of district service represents $60. The deadline for notice of retirement shall be extended should the state legislature pass legislation after March 1 which provides an opportunity for employees to retire under modified requirements of normal retirement of PSERS. Employees must meet the March 1 deadline to receive benefits as per Section 13.10a and Section 13.10b of this agreement.
RETIREMENT INCREMENT. After a minimum of fifteen (15) years of service to the Newington School District, any member of the unit who meets the eligibility requirements of the Connecticut Teachers’ Retirement System and who will have been a member of the retirement system for a minimum of 25 years or will be at least 60 years of age during the calendar year of the retirement date, is eligible for a retirement increment as follows:
(a) In order to be eligible to receive a retirement increment, the member must notify the Assistant Superintendent of Schools, on the designated form, during November of the fiscal year prior to the first year of increment payment and must submit a letter of resignation to take effect on the intended retirement date. This letter of resignation must be submitted prior to the June 1 date preceding the initial year of increment eligibility. This requirement can be waived when in the judgment of the Superintendent of Schools it is considered in the best interests of the school system. The maximum retirement increment, as defined in 8-3 (b) shall be three (3) years.
(b) The Board shall, upon receipt of such notice and letter of resignation, grant a salary increment equal to five (5) per cent of the member’s annual base salary (including any longevity salary) plus one-half (1/2) percent for each year of service to the district beyond fifteen (
RETIREMENT INCREMENT. A $2000 increment will be granted in his/her last employment year to any teacher who retires from the system under Massachusetts retirement and disability laws provided that:
1. The teacher has been employed fifteen (15) or more years in the Amherst, Pelham, and/or Amherst-Pelham Regional District Public Schools, AND
2. The teacher provides the Superintendent with a written notice of intent to retire by December 1st of the school year prior to the fiscal year in which he/she intends to retire.
3. It is understood and agreed that the retirement increment shall be paid to the teacher in the last paycheck received in the fiscal year in which he/she retires.
RETIREMENT INCREMENT. A. Any bargaining unit member giving the District notice that he/she will be retiring according to the timelines listed below shall be given a double increment for the current school year. To qualify, the teacher must have a total of at least twenty (20) years of teaching service, at least ten (10) of which must have been with the ▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇▇ Central School District. Notification Timelines: Before or on September 15th for the end of first semester retirement in January. Before or on the last day of the first semester in January for retirement at the end of June.
B. In the case of a one time State incentive mandated by the State or approved by the Board, all of the notification timelines above will be waived.
RETIREMENT INCREMENT. A retiring administrator with ten years of Burnt Hills service shall receive a retirement termination increment of $12,500 plus $80 per day for accrued sick leave in excess of 55 days at the time of retirement. To receive this increment and benefit, an administrator must submit a resignation for retirement purposes in writing to the Superintendent of Schools by January 1 and at least six months prior to the effective date of retirement, which must occur by June 30. Any other arrangement must be mutually agreed upon between the retiring administrator and the Superintendent. The termination increment will be deposited into a non-elective 403b account for the retiring administrator within 60 days following the date of retirement.
RETIREMENT INCREMENT. A retiring Business Administrator with ten years of Burnt Hills service who is eligible and applies for a New York State Retirement and who has submitted a letter of resignation to the Superintendent of Schools at least 60 calendar days prior to the effective retirement date, shall be compensated for her previously earned but unused sick leave. Each sick day shall have a value of $70. Payment shall be deposited into the ▇▇▇▇’▇ 403b account as a non-elective employer contribution within thirty days of the effective date of retirement.