Common use of Retirement Notice Incentive Clause in Contracts

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. 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 his/her intent to retire at the end of the said employee’s work year year, to the Superintendent by February 1st 15th of that same year.