Retirement Severance Benefit. An individual who is employed as a bargaining unit member at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below.
Retirement Severance Benefit. A. Accumulated Sick Leave
Retirement Severance Benefit. An individual who was employed prior to June 30, 2004 and is a bargaining unit member at the time of retirement will be eligible for the following retirement benefits provided the teacher has otherwise satisfied the requirements and conditions described below.
Retirement Severance Benefit. A certified employee who has taught in the Xxxxx Public Schools for a period of ten (10) years or more is eligible for retirement or severance pay equal to lesser 0.6% times number of years’ experience in district times last contract with district or $15,000. Example: 0.6% (.006) x 30 years’ experience = 0.18. Multiply last contract ($40,000.00) x 0.180 = $7,200.00. This will be included in the final paycheck from District 12. Those seeking to retire must notify the administration of the following:
Retirement Severance Benefit. This Article applies only to teachers hired before August 2004 retiring at the end of the 2004-2005 school year and from that year forward. Such bargaining unit member at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below.
Retirement Severance Benefit. An individual who is employed as a bargaining unit member at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below. A Group Health Insurance Immediately following severance, the teacher and his/her spouse, if any, shall have the option of remaining in the Corporation's current group health insurance plan if all of the following conditions are met as of the date of severance and thereafter:
Retirement Severance Benefit. 3 F. 403(b) annuity plan………………………………………………………………………………………… 4 G. Buy-out agreement Prior Agreement’s Retirement Benefits..……………………….. 4 H. Retirement Savings 401(a) Annuity Plan…………………………..…………………………… 6 I. VEBA………………………………………………………………………………………………………….…… 7 X. Xxxxxxxxx Pay..………………………………………………………………………………………..……. 7 K. Indiana State Teachers Retirement Fund………………………………………………………. 8 L. I.R.S. Section 125…..………………………………………………………………………………………. 8 M. Classroom Coverage…..……………………………………………………………………………….. 8
Retirement Severance Benefit. 13.9.1 Employees who commenced employment prior to September 5, 1980, shall receive a retirement/severance benefit according to the schedule below: After twenty (20) + years of service, 70% of the accumulated sick leave benefit.
Retirement Severance Benefit. (Prior to 2004 hire date) An individual who is employed as a bargaining unit member at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below. Group Health Insurance Immediately following severance, the teacher and his/her spouse, if any, shall have the option of remaining in the Corporation’s current group health insurance plan if all of the following conditions are met as of the date of severance and thereafter: While the retired teacher and spouse, if any, remain enrolled in the health insurance plan, the retired teacher and spouse shall pay the entire insurance premium applicable to the insurance coverage, with the premium payment to be made monthly for each succeeding year. Within ninety (90) days of the severance date, the teacher has provided a written request to the School Corporation for continuing insurance coverage for the teacher and spouse, if any.
Retirement Severance Benefit. Section 13.01 Professional employees, upon permanent retirement from the field of public education and Montoursville Area School District, will be granted an initial retirement severance of eight hundred thirty dollars ($830.00) multiplied by the number of years of service in the Montoursville Area School District the employee has accumulated, up to a maximum of thirty-five (35) years. In subsequent years of the agreement, thirty dollars ($30) will be added to the total in accordance to the following School year 2022-23 $830.00 School year 2023-24 $860.00 School year 2024-25 $890.00 School year 2025-26 $920.00 School year 2026-27 $950.00
