Retirement Notice Incentive. The following incentive is granted to unit members for providing a timely advance written notice of their retirement date to her/his supervisor, and for providing assistance in the work transition during their final period of service as delineated below.
7.4.1 Unit members who have reached the age of fifty-five (55) and retire from the District and STRS or PERS with at least fifteen (15) years of classified service credit with the District, and who give the District ninety (90) days’ notice of intent to retire, shall receive an additional cash payment equivalent to three (3) months of the unit member’s salary schedule monthly base pay.
Retirement Notice Incentive. Early retirement notice provides for continuity of services for clients, more strategic and timely recruitment, improved training and knowledge transfer for new employees and a smoother transition for clients and co-workers. Employees who provide confirmed notice of retirement 12 months in advance will be provided a $1,500 lump sum payment within two weeks of commencing retirement on the date provided. Employees may change their retirement date following providing notice, but will forfeit the retirement notice incentive.
Retirement Notice Incentive. In addition to any severance pay to which a bargaining unit employee may be entitled under Section J of Article VIII, an employee who satisfies the eligibility criteria of this section is entitled to an additional retirement notice incentive equal to ten (10) days severance pay to be paid under the regular severance pay procedures. To be eligible, the employee must give irrevocable written notice of the intent to retire at the end of the said employee’s work year to the Superintendent by February 1st of that same year.
Retirement Notice Incentive. Any teacher with ten (10) years of teaching in the Owatonna School District, which may include years of teaching in any school district that was consolidated with the Owatonna School District, and at least fifty-five (55) years of age at the time of retirement shall be eligible for a District contribution of a lump sum of $1,000 if the teacher submits a notice of intent to retire to the Department of Human Resources prior to February 15 of the school year in which he/she retires. The lump sum will be deposited into the district sponsored Health Care Savings Plan (HCSP) on behalf of the employee. The deposit will be available for access post-employment.
Retirement Notice Incentive. Employees who provide the District’s Human Resources Department with a minimum of six (6) months’ notice and take less than eighty (80) hours of PTO during their final six (6) months of employment, will receive a retirement notice bonus of $1,000. Employees who provide the District’s Human Resources Department with a minimum of three (3) months’ notice and take less than forty (40) hours of PTO during their final three (3) months of employment will receive a retirement notice bonus of $500. The incentive will be paid upon separation.
Retirement Notice Incentive. For those teachers who, prior to February 1, make a definite and irrevocable commitment of their intent to retire, the District shall, based on the request of the teacher, pay for up to fifteen (15) days of accumulated sick leave using the daily rate of the teacher for payment.
Retirement Notice Incentive. For those teachers who, prior to February 1, make a definite and irrevocable commitment of their intent to retire, the District shall, based on the request of the teacher, pay for up to fifteen (15) days of accumulated sick leave using the daily rate of the teacher for payment. ● Proposed additions/rewordings are underlined in blue. ● Proposed removals are struck through in red. ● Merely for simplicity, all non-modified sections of the article are not being listed here, and are understood as remaining unchanged by this proposal.
Retirement Notice Incentive. Effective July 1, 1995, tenured staff who have completed ten years of continuous district service, and notify the district seven months (December 1st) in advance of their effective June date of retirement or fourteen months (December 1st) in advance of their effective date of retirement at the end of January will be granted a retirement notice incentive. Such retiring members must be at least 55 years of age at the date of retirement. Such retirement notice incentive will be payable the month after the person retires. Notice of intent to retire under this provision may be revoked by the staff member for extenuating circumstances as determined by the Superintendent if such notice of intent to revoke is provided at least ninety (90) days prior to the date of retirement. The incentive shall be calculated as follows: Number of years credited in the New York State Retirement System x $342 to a maximum of $10,000. These monies must be disbursed in the same manner as Article V, Section D-1. Any teacher who has utilized all accumulated sick leave and the six-month disability, and is not currently working, may not apply for the Retirement Notice Incentive, except in special circumstances as determined by the Superintendent of Schools. The decision of the Superintendent of Schools shall not be subject to the grievance procedure. A teacher, even though he/she may not yet be 55 at the time of retirement, may apply for the retirement notice incentive only with the approval of the Superintendent. Such a request may be for a June retirement only. If approved, the teacher would retire at the end of June, even though he/she is not 55 and is not eligible to receive Teachers’ Retirement benefits. The teacher would, however, be entitled to all North Colonie retiree benefits effective as of the date of the resignation. Such incentive or the denial thereof shall not be subject to the grievance procedure. Only for 2011-2012, tenured staff who have completed ten years of continuous district service, and notify the district eight months (November 1st) in advance of their effective June date of retirement or fifteen months (November 1st) in advance of their effective date at the end of January will be granted a retirement notice incentive. All other eligibility criteria described in this subsection shall apply. The incentive shall be calculated as follows: Number of years credited in the New York State Retirement System x $684 to a maximum of $20,000. These monies must be dispersed...
Retirement Notice Incentive. Section 1. Employees who retire within the meaning of retirement for the purposes of New York State Teachers Retirement System will be reimbursed twenty dollars ($20) for each accumulated sick day in 2021-22 and twenty-five dollars ($25) in the 2022-23 school year, provided that the eligible employee provide they give the District an irrevocable notice of retirement by February 1st of the year in which they plan to retire. District will pay up to a maximum of four thousand dollars ($4000) in 2021-22 and five thousand dollars ($5000) in 2022-23.
Retirement Notice Incentive. Section 21.1. Any employee eligible to receive retirement benefits from the City of Xxxxxxxx Fire Pension Fund after 20 years of service and upon leaving City employment at retirement or eligible to receive a line of duty disability pension shall be eligible for a one-time bonus
