Retirements. Any member who is anticipating retirement should provide written notification to the Chief no later than twelve (12) months in advance of the anticipated date. The intent of such notification is to help the Chief plan for funding and manpower needs of the Department.
Retirements. Employees who are at least fifty years of age and have worked in the District for at least ten years are eligible, upon retirement, to be compensated for up to fifty days of accrued sick leave. Sick leave days shall be computed by taking the number of hours of accrued sick leave divided by the number of hours per day that the employee works. Sick leave days shall be compensated at the rate of fifty percent of the hourly rate last earned by the employee. Health and welfare benefits shall be available as set forth in Article VII-D.
Retirements. 14.1 The number of hours an employee works determines whether an employee subject to this agreement is eligible for participation in the Washington State Public Employees' Retirement System. The District shall report all hours in accordance with the State Retirement System guidelines.
14.2 The District will offer VEBA Ill to be voted on annually
Retirements. If an item capitalized replaces an asset with a remaining life on the books, the replaced asset should be written off.
Retirements. The District shall notify the PVFT President by email of receipt of a retirement letter from a unit member. PVFT shall notify the District by email to the Assistant Superintendent for Human Resources within 2 days of its receipt of the District’s email if the employee wishes to rescind the retirement. If rescinded the original resignation or retirement letter shall be of no effect and the employee reinstated to his/her position as a certificated member of the District.
Retirements. All employees who wish to retire must submit written retirement 60 days in advance unless a lesser number of days are mutually agreed upon.
Retirements. A. Persons who expect to retire at the end of a particular school year should notify the Central Office prior to January 1st of that year. If a person does not notify the Central Office by January 1st, the Board has the right to delay compensation for accumulated unused sick leave for 90 days beyond the date set forth in Section B. Persons who expect to retire at any time other than the end of the school year, should notify the Central Office at least 120 days in advance. If such a person does not give at least 120 days notice, the Board has the right to delay payment of accumulated unused sick leave for 90 days beyond the date set forth in Section B. All above notice requirements are waived when retirement is due to medical necessity.
B. Upon retirement, retirees shall be compensated for accumulated unused sick leave as follows: Upon retirement under the Connecticut State Teachers Retirement System, or termination due to reduction in force, a certified professional employee, or his estate, shall be compensated for one-half of all accumulated unused sick days up to a limit of 120 days of such accumulation, or, if the employee had rendered 15 or more years of teaching and/or administrative service in Manchester, for all unused sick leave accumulated up to a maximum of 60 days. Compensation for each unused sick day so provided shall be at the employee's per diem rate prior to the date of retirement. New hires as of July 1, 1998 are not eligible for this benefit. For each eligible retiring administrator who has reached the age of fifty-five (55) during the calendar year in which the administrator retires, the Board shall contribute the applicable compensation amount under the provisions of this section into a 401(a) plan established by the Board. Such contribution into the 401(a) plan shall be mandatory for each such eligible retiring administrator. The Board shall make such contributions within sixty (60) days after the effective date of the administrator’s retirement. For any eligible retiree who has not reached the age of fifty-five (55) during the calendar year in which the administrator retires, the Board shall pay directly to the administrator the dollar amount applicable to such administrator for the payment for unused sick leave, with such amount to be determined in accordance with the provisions of this contract section. Such payments shall be made within the same time period applicable to 401(a) contributions under the provisions of this section.
Retirements. The removal, replacement, abandonment, permanent withdrawal from use, destruction, loss from any cause, sale, taking under power of eminent domain or other disposition of Fixed Property of Exeter or the Company (as the case may be) shall constitute a Retirement of such property.
Retirements. Irrespective of the method by which the Scheme Employer notifies the Scheme Administrator that a Scheme member who have left employment is entitled to the immediate release of their pension benefits, The Scheme Administrator will notify the Scheme member of their benefit options within 5 working days of receipt of all relevant Scheme leaver information from the Scheme Employer. The Scheme Administrator will make payment of any retirement lump sum within 30 calendar days of the date of the Scheme member’s ‘retirement’ subject to all relevant information having been received from both the Scheme Employer and the Scheme member to enable them to do so.
Retirements. 3.3.1 Upon official notice of retirement, pursuant to NYSTRS and a minimum of ten years of employment with the District, accumulative leave will be converted into a retirement benefit. A maximum of 280 days may be used. A dollar value of $250 per day will be assigned for each day of paid leave. The maximum retirement benefit will be $70,000. The retirement benefit will be used by the District to pay any health insurance, life insurance, or comparable benefit premiums, until such time as the benefit amount is exhausted. In any fiscal year, no more than $20,000 will be drawn from the retiree’s account. In the event the employee predeceases his/her spouse, the spouse will be allowed to continue the benefit until the bank is exhausted or death, whichever comes first.
3.3.2 When the paid leave bank is exhausted, the retired administrator may continue with a District health insurance plan. It is understood the administrator shall be responsible for the full health insurance premium payment.
3.3.3 If the retiree is enrolled in District sponsored health coverage as of July 1 of the year preceding the July 1 retirement date, the dollar value of the retiree’s retirement benefit shall be used by the District to continue the employee’s health insurance benefits. If the retiree is not enrolled in District sponsored health coverage as of July 1 of the year preceding the July 1 retirement date, the District will distribute the retirement benefit as an employer non-elective contribution to the unit member 403(b) retirement plan and/or 457 plan. The employer contribution will be made in one installment; provided, however, the maximum employer contribution shall not cause an employee’s 403(b) and/or 457 plan account to exceed the applicable contribution limit under Section 415 (c)(1) of the Code, as adjusted for the cost-of-living increases. For employer non- elective contributions made post-employment to a former employee’s 403(b) account, the contribution limit shall be based on the employee’s compensation, as determined under Section 403(b)(3) of the Code and, in any event, no employer non-elective contribution shall be made on behalf of such former employee after the fifth taxable year in which that employee terminated employment. In the event that the calculation of the employer non-elective contribution referenced in any of the preceding paragraphs exceeds the applicable contribution limits, the employer shall first make an employer non-elective contribution up to the...
