Retirement Payment. Employees with 25 or more total years of service in the program, who give two months’ notice of intent to retire, shall be provided the equivalent of 16% of annual salary, or $16,000, whichever is greater, at date of termination. The payment shall not exceed $20,000.
Retirement Payment. An eligible teacher shall receive a lump sum payment in the amount of One Thousand Dollars ($1,000.00) for each year of full-time service as a teacher at the District (pro rata for a teacher in a position that is less than a full-time load), less the amount the Board has contributed to the teacher’s 403(b) account under Section A. above; provided that:
a. 2014/15 School Year and After for those staff hired prior to September 1, 2016. The maximum amount of the additional contribution by the Board shall be $8,000.
Retirement Payment. 1. If a bargaining unit member eligible for a retirement payment under Article 27 retires with fifteen (15) or more years of continuous service with the District and two hundred fifty-five (255) days of accumulated sick leave, the employee's retirement payment will include Two Thousand Dollars ($2,000.00), less applicable payroll deductions, in addition to the payment otherwise due under the terms of Article 27.
Retirement Payment. Employees retiring, who were hired on or before 2004 July 22, shall receive three (3) months' notice prior to the date of retirement and upon retiring shall receive one month of pay. Such pay is to be based on the employee’s rate of pay as of 2004 November 01.
Retirement Payment. (1) Payment shall be made to a secretary by the Board for all of that employee's unused accumulated sick leave upon an official retirement, which has been approved by the New Jersey Division of Pensions.
(2) Such payment shall be made at the rate of twenty percent (20%) of the retiree's daily rate of pay at date of retirement for each unused sick leave day. Daily rate of pay is defined as 1/200 of a ten-(10) month employee's annual salary and 1/240 of a twelve-(12) month employee's annual salary.
Retirement Payment. (a) Where an Employee who has been employed for five years or more dies or has their employment terminated on the grounds of ill health, the Employee or their estate (as the case may be) shall be entitled to be paid a retiring gratuity of $531 from FPPOOA 1 July 2018, then $547 from FPPOOA 1 July 2019, then $563 from FPPOOA 1 July 2020, then $580 from FPPOOA 1 July 2021, then $598 from FPPOOA 1 July 2022, then $616 from FPPOOA 1 July 2023, then $634 from FPPOOA 1 July 2024 and then $653 from the FPPOOA 1 July 2025 for every completed year of service less any lump sum amount paid on retirement by a superannuation fund or scheme to which the Employer has made contributions on the Employee's behalf.
Retirement Payment. Employees with 25 or more total years of service in the program, and who commenced working for LSNY prior to January 1, 1980, who give two months’ notice of intent to retire, shall be provided the equivalent of 7 percent of annual salary, or $4,000, whichever is greater, at date of termination.
Retirement Payment. 26.01 Retirement pay shall be a one-time, lump-sum payment to eligible employees in accordance with the following provisions:
26.02 An employee's eligibility for retirement pay shall be determined as of the final date of employment. The criteria are as follows:
1. The employee retires from the District.
2. The employee must, within one-hundred eighty (180) days of the last date of employment with the Board, prove acceptance into the retirement system by having received and cashed his/her retirement check.
3. The employee must have not less than ten (10) years of service with the District, the State, or its political subdivisions.
4. The employee must sign a form provided by the Board when he/she receives the District's check certifying that all the eligibility criteria have been met.
5. The employee must make application to the Treasurer no later than ninety (90) days from the last paid day of service with the Board.
26.03 Retirement pay benefits shall be calculated as set forth below:
1. Multiply the employee's accrued, but unused, sick leave by one-fourth.
2. Multiply the product times the regular per diem rate of pay earned by the employee at the time of retirement.
3. The amount of the benefit calculated in Steps 1 and 2 above, shall not exceed the value of 63.75 days of accrued, but unused, sick leave.
4. Receipt of payment for accrued, but unused sick leave, shall eliminate all sick leave credit accrued by the employee. Such payment shall be made only once by the Board to any employee.
5. If a bargaining unit member eligible for a retirement payment under Article 26 retires with fifteen (15) or more years of continuous service with the District and two hundred fifty-five (255) days of accumulated sick leave, the employee’s retirement payment will include Two Thousand Dollars ($2,000.00), less applicable payroll deductions, in addition to the payment otherwise due under the terms of Article 26.
26.04 Notwithstanding the eligibility criteria appearing above, if an employee with not less than ten
Retirement Payment. Certificated employees of the Board of Education for the Steubenville City School District whose retirement is received and approved by the State Teachers Retirement System of Ohio, within ninety (90) days of his/her last date of service with the District, shall be eligible for a lump sum payment at the rate of 25% of his/her accumulated sick leave to a maximum of sixty (60) days.
1. Eligibility for payment upon retirement is limited to one (1) such payment. In the event that such employee is re-employed by the Board, such employee is not eligible for further or additional compensation. Eligibility is further limited to those employees who have a minimum of ten (10) years of service with the District.
2. Payment upon retirement will be paid at the Bargaining Unit Member's per diem at the time of retirement in either a single installment or in two (2) equal installments, upon the choice of the bargaining unit member. The retiring bargaining unit member shall
