Retirement Severance. (a) Upon qualification for benefits in accordance with the rules and regulations of the Michigan Public School Employees Retirement System the retiring bus driver shall be paid for all unused sick leave days at a rate that is 50% of the current rate based on the current bid route time. The retiree after 10 or more consecutive years of service will receive 75% of the above amount. Bus monitors who meet the MPSERS qualification shall be paid for all unused equivalent sick leave days at a rate of $15 per day. This will not apply to discharged employees. (b) In appreciation for services to the school district a severance payment of one hundred dollars ($100.00) for each year of service to the Board as a bus driver or fifty dollars ($50) for each year of service as a monitor will be paid, provided the employee shall have been employed as a bus driver in the Dexter Community Schools for ten (10) consecutive years and voluntarily resigns from active duty in good standing as a bus driver or monitor for the Board.
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Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
