Common use of Retirement Severance Clause in Contracts

Retirement Severance. An employee retiring under the Michigan School Employee's Retirement System and having fifteen (15) service years of in-district service, shall receive a one-time retirement grant. The retiree shall be paid fifty (50) dollars per unused accumulated sick days to a maximum of one hundred (100) days with a maximum grant of $5,000.00

Retirement Severance. An employee administrator retiring under the Michigan School Employee's Employees Retirement System and having fifteen (15) service years of in-district service, shall receive a one-time retirement grant. The retiree shall be paid fifty fifteen (5015) dollars per unused accumulated sick days to a maximum of one hundred (100) 70 days with a maximum grant of $5,000.001,050.

Retirement Severance. An employee retiring under the Michigan School Employee's Employees Retirement System and having fifteen (15) service years of in-district service, shall receive a one-time retirement grant. The retiree shall be paid fifty Seventy Five Dollars (50$75) dollars per unused accumulated sick days to a maximum of one hundred Eighty (10080) days with a maximum grant of Six Thousand Dollars ($5,000.006000.00).