Common use of Retirement Restoration Payment Clause in Contracts

Retirement Restoration Payment. For unit members who retire prior to July 1, 2012 and who final compensation for wage deduction in Fiscal Year 2011-2012 caused by implementation of Rule 120 of the Civil Service Regulations, the District will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction caused by the furlough days for the period used by the applicable retirement system to determine the employee’s final compensation for retirement purposes (Final Compensation Period). The above provision shall also apply to unit members who retire prior to July 1, 2013.

Retirement Restoration Payment. For unit members who retire prior to July 1, 2012 and who whose final compensation for wage deduction reduction in Fiscal Year 2011-2012 2011 -12 caused by implementation of Rule 120 of the Civil Service Regulations, the District will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction caused by the furlough days for the period used by the applicable retirement system to determine the employee’s final compensation for retirement purposes (Final Compensation Period). The Th e above provision shall also apply to unit members who retire prior to July 1, 2013.

Retirement Restoration Payment. For unit members who retire prior to July 1, 2012 and who whose final compensation for wage deduction in Fiscal Year 2011-2012 caused by implementation of Rule 120 of the Civil Service Regulations, the District will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction caused by the furlough days for the period used by the applicable retirement system to determine the employee’s final compensation for retirement purposes (Final Compensation Period). The above provision shall also apply to unit members who retire prior to July 1, 2013.