Common use of Severance Post Retirement Clause in Contracts

Severance Post Retirement. To the extent that this agreement provides for payments to teachers near or after retirement, and to the extent that the Internal Revenue Code provides tax deferral and tax savings opportunities, the District agrees to make a reasonable effort to provide such plans and the Federation agrees to participate in the plans made available. The entire payment shall be deposited into an approved health care reimbursement arrangement.

Severance Post Retirement. To the extent that this agreement provides for payments to teachers near or after retirement, and to the extent that the Internal Revenue Code provides tax deferral and tax savings opportunities, the District agrees to make a reasonable effort to provide such plans and the Federation agrees to participate in the plans made available. The entire payment shall be deposited into an approved health care reimbursement arrangementsavings plan.