Supplemental Retirement Accounts. The District currently offers a 403(b) program which employees may elect to participate in. Program changes to the District’s supplemental retirement program (i.e. 403(b)) will be at the sole discretion of the District.
Supplemental Retirement Accounts. Tier III members may request to cash out sick leave at the principal’s per diem rate to contribute to their 403(b) or 457 supplemental retirement account in the amounts defined below: Tier III members with at least: • 13 sick days accrued may contribute up to one (1) sick day per year • 26 sick days accrued may contribute up to two (2) sick days per year • 100 sick days accrued may contribute up to three (3) sick days per year Annual requests to cash out sick leave must be received by the District’s payroll department no later than May 1st. Timely requests will be processed between May 1st and the final payroll cycle for principals of the contract year. In the event there is a change in state law which provides new value to TRS Tier III principals’ accrued sick leave, whether realized at retirement or otherwise, the District is under no obligation to continue the contributions identified in this article.
Supplemental Retirement Accounts. The College agrees to make available payroll deductions for supplemental retirement accounts. The College will maintain a list of carriers jointly approved by the Faculty Association.
Supplemental Retirement Accounts. The District currently offers a 403(b) program which employees may elect to participate in.
Supplemental Retirement Accounts. The District currently offers a 403(b) program which employees may elect to participate in.
23.01 The District shall provide, on a fully-paid basis, a group life insurance protection plan for each regular employee in a face amount triple (three [3] times) the employee's annual salary rounded to the next highest one thousand dollars ($1,000.00), as described in the insurance policy provided by the District’s insurance carrier, to be paid to the employee's legal beneficiary. In the event of accidental death or dismemberment, the insurance shall pay double (two [2] times) the face amount of the policy. A copy of the District’s insurance policy is available to employees upon request.
23.02 The District shall make available dependent life insurance coverage in the amounts specified in the table contained in the insurance policy between the District and insurance carrier with premiums payable by the employee.
23.03 Upon termination, an employee may elect to continue in force life insurance coverage provided by the Board during the period of the member's employment. If such election is made, the employee shall pay all premiums for the insurance. The conversion rate shall be established by the insurance carrier. A maximum face value of such insurance shall not exceed that of the policy provided by the Board to the employee immediately prior to the employee's termination.
24.01 A regular employee hired prior to July 1, 1997 earns, in addition to other earnings received, an annual lump sum payment amounting to six percent (6%) of the employee’s regular annual earnings for the calendar year as established by the employee’s placement on the classified salary schedule and anniversary date, and continues at that rate for the duration of the employee’s employment with the School District.
24.02 Longevity pay calculations will apply to the total yearly salary.
Supplemental Retirement Accounts. The District will match employee contributions, dollar for dollar, up to 1% of the employee’s annual salary into the employee’s supplemental retirement account.
