Service Stipend. The Board of Education shall additionally pay to each eligible retiree a post- retirement service stipend for each year of full-time teacher service (or equivalent thereof) in District 106 of $550 per year of service, up to $20,000. This service stipend will not be due, owing or payable until after the teacher has retired and received his or her final paycheck for regular earnings.
Service Stipend. For the term of this agreement employees that have completed 10 years or more of service with the District as of July 1 of the contract year will receive a “Service Stipend” amount (paid with the December payroll each year) in accordance with the following table: Years of Completed Service Service Stipend Amount* 10-14 years $600 15-19 years $700 20-24 years $800 25 years or more $1,000 * Classified staff members employed by the District as of July 1, 2015 who opted for the Early Retirement Benefit and are no longer eligible to receive such benefit shall be eligible for the Service Stipend Amount based on their years of completed service.
Service Stipend. A. By separate contract, employees who meet criteria identified below shall receive a service stipend to perform any of the following responsibilities:
Service Stipend. During any semester in which an employee teaches a course at SFAI, they shall receive a special stipend in the amount of $125 for providing any of the following services:
Service Stipend. A post-retirement service bonus shall be paid to eligible retirees in the month of January following the Teacher’s retirement date. The amount of the bonus will be determined by the total number of years of full-time, continuous teaching employment in the District at the time of retirement. The service bonus shall be calculated as follows: Total Years of Full-Time Continuous Teaching Service in District 16 Percent of Final Year’s Salary 15-19 15% 20-24 18% 25+ 20% In the event the compensation to which a Teacher would otherwise be entitled under the provisions of this agreement in each of the years prior to retirement hereunder is less than the 6% stipend noted above, the Board will deduct from the amount represented by the service bonus noted here, sufficient dollars to raise said Teacher’s creditable earnings to the required 6% level. Such deductions will be reflected in percentage increases to the Teacher’s non-enhanced creditable earnings for each year such enhancement is required to reach the 6% figure (difference between 6% and the negotiated increases). All such percentage increases will be added and then the sum will be subtracted from the relevant “Percent of Final Year’s Salary”, as noted above, to determine the final amount of the service stipend, if any (see examples in Appendix J). Any dollars remaining from the service bonus calculation thereafter, shall be the property of the Teacher and paid as a post-retirement bonus as noted above.
Service Stipend. A. An employee legally separating from the District with 15 or more years of continuous service in the District, will be paid a length of service stipend amounting to .006 times the employee's annual salary at the time of retirement, times the employee's years of service.
Service Stipend. During any semester in which an employee teaches a course at SFAI, they shall receive a special stipend in the amount of $500 if appointed by the Xxxxxxx or designee to serve as Chair of an MA Thesis Committee. Only Senior Lecturers are eligible to be selected as MA Thesis Committee Chairs. If a Senior Lecturer is already serving as the instructor of record for the MA Thesis Course, then that individual is considered a Reader on the MA Thesis Committee of all students enrolled in the course and as a result, that individual shall not be entitled to this service stipend.
Service Stipend. A. An ESP legally separating from the District with fifteen (15) or more years of continuous service in the District, will be paid a length of service stipend amounting to .006 times the ESP’s annual salary at the time of retirement, times the ESP’s years of service.
Service Stipend. The Board of Education shall additionally pay to each eligible retiree a post- retirement service stipend for each year of full-time teacher service (or equivalent thereof) in District 106 of $550 per year of service, up to $20,000. This service stipend will not be due, owing or payable until after the teacher has retired and received his or her final paycheck for regular earnings. If a teacher has put in for the retirement incentives who would otherwise have earned a greater than 6% raise in one or more of those years, their earnings will be reduced to the equivalent of a 6% raise, and the difference will be added to the service stipend. No teacher who has given notice of early retirement will receive pay increases that will result in an additional payment/penalty to TRS by the Board. If a teacher retires without providing sufficient notice and this results in the District being required to pay a TRS penalty, the teacher will be required to pay the District back an amount equal to the penalty. A retiring teacher may elect to increase his/her TRS creditable earnings by an additional 1% over the teacher’s prior year’s reported TRS creditable earnings, for a total of 6% over the teacher’s prior year’s reported TRS creditable earnings, for each remaining year of the teacher’s employment in the District beginning with the school year in which notice is given by deducting sufficient dollars to raise his/her creditable earnings by 1% from this service stipend. Any such deductions will be added together and the sum will be subtracted from the applicable service stipend to determine the final amount of the service stipend. Any dollars remaining from the service stipend calculation thereafter, shall be the property of the teacher and paid as a post-retirement bonus as noted above.
Service Stipend. Each member of the Bargaining Unit who becomes eligible for retirement and, in writing, notifies the Superintendent by March 1 for an end of the school year retirement or September 1 for an end of the first semester retirement, and, applies for retirement under the Public School Employees' Retirement System, shall be given a service stipend of $30.00 multiplied by the number of years of employment in the Elizabethtown Area School District, OR, at the employee's option, shall be given $40.00 for each day of his/her accumulated, unused sick leave. Failure to provide written notification will result in forfeiture of this benefit. Once a letter of notification is submitted to the Superintendent, it cannot be rescinded by the member. These timelines will not apply in the event of an unforeseen documented medical condition. In this situation, a Bargaining Unit member could submit a retirement notification without the loss of the service stipend.
