Common use of Retirement Without Municipal Pension Plan Clause in Contracts

Retirement Without Municipal Pension Plan. a) On reaching retirement age and having completed ten (10) or more years of continuous service with the Board, all employees not covered by Municipal Pension Plan shall be granted one (1) month's extra pay, and if any employee has not taken holidays for the current year the employee shall be paid in lieu of such holidays in proportion to the time worked in the year of the employee’s retirement. b) A regular employee, not on Municipal Pension Plan, having accrued sick leave credit shall, on reaching retirement age, after having completed ten (10) years or more continuous service with the Board, receive a salary grant in lieu thereof equal to one hundred (100%) percent of such credit, or in the event of death before retirement any accrued sick leave shall be paid in cash to the employee’s estate or legally authorized representative. This payment shall replace any payment to which the employee might otherwise be entitled under Article 23.06.

Retirement Without Municipal Pension Plan. ‌ a) On reaching retirement age and having completed ten (10) or more years of continuous service with the Board, all employees not covered by Municipal Pension Plan shall be granted one (1) month's extra pay, and if any employee has not taken holidays for the current year the employee shall be paid in lieu of such holidays in proportion to the time worked in the year of the employee’s retirement. b) A regular employee, not on Municipal Pension Plan, having accrued sick leave credit shall, on reaching retirement age, after having completed ten (10) years or more continuous service with the Board, receive a salary grant in lieu thereof equal to one hundred (100%) percent of such credit, or in the event of death before retirement any accrued sick leave shall be paid in cash to the employee’s estate or legally authorized representative. This payment shall replace any payment to which the employee might otherwise be entitled under Article 23.06.

Retirement Without Municipal Pension Plan. a) On reaching retirement age and having completed ten (10) or more years of continuous service with the Board, all employees not covered by Municipal Pension Plan shall be granted one (1) month's extra pay, and if any employee has not taken his/her holidays for the current year the employee he/she shall be paid in lieu of such holidays in proportion to the time worked in the year of the employee’s his/her retirement. b) A regular employee, not on Municipal Pension Plan, having accrued sick leave to his/her credit shall, on reaching retirement age, after having completed ten (10) years or more continuous service with the Board, receive a salary grant in lieu thereof equal to one hundred (100%) percent of such credit, or in the event of death before retirement any accrued sick leave shall be paid in cash to the employee’s his/her estate or legally authorized representative. This payment shall replace any payment to which the employee might otherwise be entitled under Article 23.06.