Retirement Notification Stipend Sample Clauses

Retirement Notification Stipend. Professional Staff Members retiring from the Beavercreek City schools will be eligible for an early notification stipend of $500.00. The Professional Staff Member will be eligible for this stipend when he/she: 1. establishes his/her retirement date with the State Teachers' Retirement System (STRS); 2. is eligible to collect from STRS on that established date; 3. submits a letter of resignation for the purpose of retirement to the Beavercreek Board of Education's Personnel Office no later than February 1, for a retirement date at the end of the current school year. The notification stipend will be paid in the first month the Professional Staff Member is retired.
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Retirement Notification Stipend. Unit members who submit to the District Human Resources Office an irrevocable resignation for purposes of retirement with an effective date of no later than the end of the then current school year shall receive a $1,000.00 Retirement Notification Stipend from the District. The irrevocable resignation for purposes of retirement must be received by the District Human Resources Office no later than close of business on February 15th (or the preceding Friday if February 15th falls on a Saturday or Sunday). Effective with the 2010-2011 school year, any bargaining unit members participating in the collective bargaining agreement Pre- Retirement program as provided in Section 14.1 or the Early Retirement program as provided in Section 14.2 shall not be eligible for the Retirement Notification Stipend.
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Retirement Notification Stipend. Section 1 If, on or before the one year date prior to the employee’s retirement, the employee submits his/her resignation letter (for purposes of retirement) to the Superintendent, the employee will receive a stipend in the amount of 5% of his/her last annual gross salary up to a maximum of $1,000. The amount of the stipend will be spread evenly across all remaining pay periods following board approval of the employee’s retirement letter. If any member leaves before completing the work year, the employee must repay the amount of any stipend received.
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Retirement Notification Stipend. If a paraprofessional has completed ten (10) or more years of service in the Midland Public Schools system, and notifies (in writing) the Director of Human Resources on or before March 1 of the year they intend to retire that they will retire, and completes the school year, they will be entitled to the following stipend:
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Retirement Notification Stipend. If a paraprofessional has completed ten (10) or more years of service in the Midland Public Schools system, and notifies (in writing) the Director of Human Resources on or before February 1 of the year they intend to retire that they will retire, and completes the school year, they will be entitled to the following stipend: Paraprofessionals at Step 7 or greater (Category I and II) and have 10 years of service in 2017-2018 will receive $100 per year of service, if notified before February 1 deadline. If a paraprofessional does not meet the notification requirements as listed, the paraprofessional will be paid $50.00 for each year of service in the district, up to a maximum of $1000.00 upon retirement as outlined under the retirement provisions of the State Retirement Act. Paraprofessionals at Step 7 and below and less than 10 years of service in 2017-2018 will received $50 per year of service, if notification before February 1 deadline. If a paraprofessional does not meet the notification requirements as listed, the paraprofessional will be paid $25.00 for each year of service in the district, up to a maximum of $1000.00 upon retirement as outlined under the retirement provisions of the State Retirement Act. To be eligible for this benefit, a paraprofessional must have worked for the Midland Public Schools at least 10 years and retire by June 30. The number of years of service with M.P.S. will be calculated in the same way as the M.P.S.E.R.S. calculates years of service. Paraprofessionals must notify the Director of Human Resources on or before March 1, and finish the school year to receive the stipend. If the Director of Human Resources receives notice before February 1, the paraprofessional must give at least a 60-day notice to be eligible for the stipend.
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Retirement Notification Stipend. Upon submission to the District of a signed letter of retirement (effective at the end of the school year) on or before February 1, retiring employees shall be given a one-time stipend of $500.
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Retirement Notification Stipend. Employees who submit a signed letter of resignation for the purpose of retirement on or before March 15 of the current school year shall be given $500.00 additional severance pay. To be eligible for this benefit the employee must complete the adopted school calendar plus other additional and supplemental duties under contract. Employees must have served their last five (5) years in the service of the Woodmore Local Schools to qualify for severance pay. Employees who are currently employed by the Board who are at Step 24 and above, as of July 1, 2018, shall receive a supplemental retirement stipend upon retirement that is equal to the difference between $2,000.00 and the total amount of all longevity payments to the employee.
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Retirement Notification Stipend. Each eligible ABSASP member shall receive an additional two thousand ($2,000) if he/she submits a letter of resignation for the purpose of retirement more than one hundred twenty (120) calendar days prior to the effective date of his/her retirement.
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Related to Retirement Notification Stipend

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Change in Control Benefits In the event there is a Change in Control, as defined below, and the Executive’s employment hereunder is terminated by the Executive for Good Reason or by the Employer without Cause (other than on account of the Executive’s death or disability), in each case within twelve (12) months either (a) after Executive’s employment has terminated or (b) following a Change in Control, the Executive shall be entitled to be paid, in a single lump sum, severance equal to two (2) years’ salary at that salary rate being paid to Executive as of the date of the Executive’s termination together with an amount equal to one times (1.0x) the average of the Annual Bonus paid to Executive for services during the preceding three (3) calendar years (or the Executive’s period of employment, if less than three (3) years), provided; that, in the event the Executive’s employment has terminated and Executive has been paid a severance benefit under Section 6 of this Agreement, such change in control benefit under this Section 7 shall be reduced by the amount of the severance benefit previously paid. Executive acknowledges and agrees that such payment is in lieu of all damages, payments and liabilities on account of the early termination of this Agreement and is the sole and exclusive remedy for Executive (other than rights, if any, to exercise any of the stock options vested prior to such termination), and shall only be paid, within 60 days after his separation from service with Employer, subject to Executive’s execution and delivery to Employer, within such 60-day period, of a complete release of all claims Executive may have against the Employer, its officers, directors, agents, employees, predecessors, successors, parents, subsidiaries, and affiliates. If the 60-day period referred to in the immediately preceding sentence begins in one calendar year and ends in the following calendar year, then the payment shall be made in the latter calendar year. If upon termination of employment Executive chooses to arbitrate any claims pursuant to Section 18, Executive shall be deemed to have waived Executive’s right, if any, to severance.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

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