SERVICE PAYMENT-EMPLOYEE. Upon retirement from the District, the Board will make a one-time payment for each year of service in the District in the amount of $65 for teachers or full-time support staff with at least 10 (ten) years of service, $80 for teachers or full-time support staff with at least 20 years of service, and $100 for teachers or support staff with 25 or more years of service. If during the term of this contract any law is enacted that results in fewer years of credible service and/or a lower age to not cause the Board an ERO penalty, the lower age and/or credible service shall apply. This shall be paid in a lump sum after July 1 of the school year the employee retires. Support staff with 10 (ten) or more years of service in the District, employed less than six hours, shall receive a one time payment for each year of service in the District in the amount of $35 for at least ten (10) years of service, $40 for at least 20 years of service, and $50 for 25 or more years of service. This shall be paid in a lump sum after July 1 of the school year the employee retires.
SERVICE PAYMENT-EMPLOYEE. Upon retirement from the District, the Board will make a one-time payment for each year of service in the District in the amount of $65 for teachers or full-time support staff with at least 10 (ten) years of service, $80 for teachers or full-time support staff with at least 20 years of service, and $100 for teachers or support staff with 25 or more years of completed service, which amount shall become due and payable no earlier than thirty (30) days following retirement from service to the District. Support staff with 10 (ten) or more years of service in the District, employed less than six hours, shall receive a one time payment for each year of service in the District in the amount of $35 for at least ten (10) years of service, $40 for at least 20 years of service, and $50 for 25 or more years of service. This shall be paid in a lump sum after July 1 of the school year the employee retires. The Parties agree that such payment in recognition of years of service, shall become due and payable no earlier than thirty (30) days after the completion of the teacher or support staff person’s service to the District and issuance of the final paycheck therefor, whichever is later, and is intended by the parties to be post-retirement income, and not wages for services rendered to the District. The Parties agree that such payment is intended to be exempt from any creditable earnings calculations conducted by the Teachers’ Retirement System of Illinois (TRS) or Illinois Municipal Retirement Fund (IMRF); Status quo is explicitly waived for the purpose of this agreement, so that if there is change to the Illinois Pension Code, administrative rules, interpretation by IMRF or TRS, guidance documents from IMRF or TRS, or any other notification from IMRF or TRS which would cause this payment for recognition for years of service to be considered creditable earnings or otherwise cause a contribution to IMRF or TRS, penalty, or other cost not explicitly contemplated herein, this section of the Agreement shall be severed and rendered unenforceable, and the Parties shall meet to negotiate new terms and conditions for payment for recognition of years of service. In such event, status quo shall be as though this language never existed and was never a part of the agreement.
