Salary Deferral. (a) In each year of participation in the Plan preceding the period of leave, a Teacher shall be paid a reduced percentage of both the regular grid salary and any applicable allowances. The remaining percentage shall be deferred, and this accumulated amount plus interest earned shall be paid to the Teacher during the period of leave.
Appears in 4 contracts
Salary Deferral. (a) In each year of participation in the Plan preceding the period of leave, a Teacher teacher shall be paid a reduced percentage of both the regular grid salary and any applicable allowances. The remaining percentage shall be deferred, and this accumulated amount plus interest earned shall be paid to the Teacher teacher during the period of leave.
Appears in 4 contracts
Salary Deferral. (a1) In each year of participation membership in the Plan preceding the period year of leave, a Teacher shall teacher will be paid a reduced percentage of both the regular grid salary and any applicable allowances. The remaining percentage shall will be deferredretained by the School Authority and deposited at interest in an individual trust account for the teacher , and this accumulated amount plus interest earned shall will be paid to the Teacher during teacher in the period year of leave.
Appears in 2 contracts
Samples: Agreement, Letter of Agreement
