Retirement Payment Sample Clauses
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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) Payment shall be made to a certificated employee 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. 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. 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
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. All employees will receive Board paid retirement as required by law.
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. Employees who commence employment on or after 1 February 2023 will not be eligible for the retirement payment condition (the Condition).
13.6.1 Employees who retire under clause 13 shall be entitled to receive the following payment:
(a) After 10 years continuous service 50 working days
(b) For each additional complete year up to 25 years 5 working days
(c) For each additional complete year over 25 years’ service2 working days
(d) The maximum payment shall not exceed 131 working days.
13.6.2 Payment shall be made in one gross sum on the date of retirement. Payment will be pro-rated for part time employees to reflect their hours of work.
13.6.3 For the purposes of the retirement payment, service shall be continuous service at Waipapa Taumata ▇▇▇ | The University of Auckland. In determining the period of service, the employer may deduct periods of leave without pay exceeding three months in total. On the death of an employee, the employer may approve the payment of a cash grant in lieu to the surviving partner or if there is no surviving partner, to dependent children.
13.6.4 Service for the purpose of retirement leave entitlement and calculation means unbroken employment with the University, either full-time or part-time together with any other service which may be recognised for the purpose of a retirement payment.
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 FPPOOA1 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.