Sick Leave Balloon. Certified employees who have completed at least ten (10) years of full-time creditable service to Xxxxxxxx Xxxxxxxxx Xxxx Xxxxxx Xxxxxxxx Xx. 0 who provide five (5) years advanced notice of retirement shall be eligible for a sick leave balloon benefit. In order to receive this benefit, the employee shall provide the district with an irrevocable letter effective five (5) years from the date of notification and be at least fifty-five (55) years of age by December 31st of the year of retirement with twenty (20) or more years of creditable service with the Illinois Teachers’ Retirement System. Upon receipt of the employee's letter of resignation and acceptance by the board, the employer shall immediately add up to 170 days to the employee's accumulated sick leave, with the resulting accumulated sick leave not to exceed 340 days. This sick leave balloon benefit expires on June 30, 2019.
Sick Leave Balloon. Any certificated employee planning retirement under the TRS, and having at least fifteen (15) years of continuous service in Wood River-Hartford District 15 as well as in excess of 140 days of accumulated sick leave, may also request, in writing, an additional retirement incentive in the form of a balloon grant of additional sick leave days provided that a certificated employee must submit his/her written request hereunder, along with an irrevocable letter of retirement, at least five (5) years in advance of the effective date of retirement. The written request may be for a grant of additional sick days sufficient to increase the certificated employee’s unused, accumulated sick leave to over 170 days (or in extraordinary cases, over 340 days) with the goal of providing additional service credit for retirement purposes. The Board will consider such requests on a case-by-case basis, and may grant or deny additional sick leave days in its discretion; but such decision shall not be arbitrary or capricious, and approval will not be unreasonably withheld. In case of denial, the Board will, upon request, present evidence in writing to the union president within 10 school days as to why it was not beneficial to the District. The union may appeal this decision to the Board by providing evidence of its own to demonstrate a substantial financial benefit of granting sick leave, and if the union can prove that the District would realize a substantial economic benefit from granting leave, it will be granted. Any grant of additional sick leave days must be in accordance with applicable TRS rules, and the number of days granted may not exceed the following calculation: the number of work days remaining until the certificated employee’s retirement date or three hundred forty (340) days, whichever is less, minus the total number of unused accumulated sick leave days the certificated employee has on record with the District and TRS at the date of the written request. The parties recognize that a primary intent of this provision is to encourage retirement at the certificated employee’s earliest opportunity; accordingly, in most instances, a certificated employee must provide the District with a written irrevocable letter of retirement to be effective upon the conclusion of the school year in which he or she will first become eligible to retire without incurring a reduced pension or ERO costs, in order to be considered for this incentive. The employee acknowledges the District...
Sick Leave Balloon. Option 1: A bargaining unit member who provides five (5) years advanced notice of retirement or resignation, and who has one hundred and one (101) accumulated sick days, and who has at least fifteen (15) years of service with Southwestern School District, will be eligible for a sick leave balloon benefit. To receive this benefit, the bargaining unit member must provide the district with an irrevocable letter effective five (5) years from date of notification of retirement or resignation. Upon receipt of the bargaining unit member’s letter of resignation, the District will immediately increase the bargaining unit member’s accumulated sick leave so that the total of such leave available to the bargaining unit member as creditable service to TRS will be equal to three hundred ten (310) days.
Sick Leave Balloon. A bargaining unit member who provides five (5) years advanced notice of retirement or resignation, and who has one hundred and one (101) accumulated sick days, and who has at least fifteen (15) years of service with Southwestern School District, will be eligible for a sick leave balloon benefit. To receive this benefit, the bargaining unit member must provide the district with an irrevocable letter effective five (5) years from date of notification of retirement or resignation. Upon receipt of the bargaining unit member’s letter of resignation, the District will immediately increase the bargaining unit member’s accumulated sick leave so that the total of such leave available to the bargaining unit member as creditable service to TRS will be equal to three hundred ten (310) days. Bargaining unit members who receive the sick leave balloon benefit provided for herein must retire with thirty-five (35) years of total reportable creditable service upon his/her last day of service to the District. In the event the bargaining unit member would not have thirty-five (35) years of total reportable creditable service upon his/her intended date of retirement, the member may work until satisfying the thirty-five (35) year creditable service requirement or retire and accept a discounted annuity.
Sick Leave Balloon. Certified employees who have completed at least ten (10) years of full-time creditable service to Xxxxxxxx Xxxxxxxxx Xxxx Xxxxxx Xxxxxxxx Xx. 0 who provide five (5) years advanced notice of retirement shall be eligible for a sick leave balloon benefit. In order to receive this benefit, the employee shall provide the district with an irrevocable letter effective five (5) years from the date of notification and be at least fifty-five (55) years of age by December 31st of the year of retirement with twenty (20) or more years of creditable service with the Illinois Teachers’ Retirement System. Upon receipt of the employee's letter of resignation and acceptance by the board, the employer shall immediately add up to 170 days to the employee's accumulated sick leave, with the resulting accumulated sick leave not to exceed 340 days. The District will not be responsible for this sick leave balloon option if the District must pay any penalty (employer cost) to the Illinois Teachers' Retirement System.
Sick Leave Balloon. A teacher who provides five (5) years advanced notice of retirement and at the time of notice has 130 accumulated sick leave days and at least 15 years of service with Xxxxxx Xxxxxxxxx Xxxx Xxxxxx Xxxxxxxx #000, shall be awarded a sick leave balloon benefit. This benefit shall be awarded in the teacher’s fifth year prior to retirement up to a maximum of 180 days not to exceed 310 days of total accrued sick leave. In order to receive this benefit the employee shall provide the District with an irrevocable letter effective five (5) years from the date of notification of retirement. Employee is still to receive yearly, normal sick-leave allotment with a cap not to exceed 340 days upon retirement. The parties agree this provision will extend beyond the duration of the current collective bargaining agreement until the conditions herein described have been satisfied.
Sick Leave Balloon. A teacher who provides five years advanced notice of retirement or resignation shall be eligible for a sick leave balloon benefit. In order to receive this benefit, the employee shall provide the district with an irrevocable letter effective five years from the date of notification. Upon receipt of the employee’s letter of resignation, the employer shall immediately increase the employee’s accumulated sick leave so that the total of such leave available to the employee shall be equal to three hundred forty days.
