Severance and Retirement Benefits. These benefits are applicable only to teachers hired and working prior to July 1, 2002.
Severance and Retirement Benefits shall receive fifty (50) days added to their Severance and Retirement payout. (See Article 36 Severance and Retirement Benefits.)
Severance and Retirement Benefits. Effective July 1, 2006, a teacher with at least 20 years of continuous service with the District who retires from the District and from the New York State Teachers’ Retirement System shall be entitled to payment for unused accumulated sick leave at the rate of one day’s pay for every two days of said entitlement to a maximum of one-half year’s salary. Payment shall be made within 30 days of retirement from the New York State Teachers’ Retirement System. In order to be eligible for this benefit, written notice of retirement must be provided to the Superintendent of Schools on or before March 1st for retirements effective the following June 30th. For teachers who retire other than at the end of the year, four months’ notice in advance is similarly required. As an alternative to payment pursuant to this provision, teachers may elect to take a retirement leave of absence equal to one-half their unused balance of accumulated sick leave time to a maximum of one semester. To be eligible for this leave, the applicant shall make application upon a form to be provided by the Superintendent at least two (2) calendar months before the planned date of the start of the leave and provided that such application is approved by the Superintendent. Notwithstanding the above, as to all retirements effective July 1, 2004 and thereafter, the retirement benefits provisions of this article shall be governed by the memorandum of agreement dated May 25, 2004 which is attached to this contract as Exhibit A, except that as to retirements effective July 1, 2006 and thereafter, the requirement of 20 years of continuous service with the District as set forth above shall be applicable.
Severance and Retirement Benefits
