Common use of Supplemental Retirement Income Program Clause in Contracts

Supplemental Retirement Income Program. 17.5.1 Employees wishing to participate in this plan must be at least 55 years of age and have served for five years in the District. An employee must submit a written resignation which is accepted by the Board no later than March 1 of the year in which the unit member intends to retire, and the resignation must be effective no later than June 30 of the same year. 17.5.2 Under this plan, the employee will select an income protection program and notify the District of the program and the contribution arrangement. The District will contribute a total of $20,000 to this plan based on a schedule, not to exceed five years. 17.5.3 The District assumes no responsibility or liability for taxes or any other consequences, of the individual's participation in this retirement plan.

Supplemental Retirement Income Program. 17.5.1 Employees wishing to participate in this plan must be at least 55 years of age and have served for five years in the District. An employee must submit a written resignation which is accepted by the Board no later than March 1 of the year in which the unit member he/she intends to retire, retire and the resignation must be effective no later than June 30 of the same year. 17.5.2 Under this plan, the employee will select an income protection program and notify the District of the program and the contribution arrangement. The District will contribute a total of $20,000 to this plan based on a schedule, not to exceed five years. 17.5.3 The District assumes no responsibility or liability for taxes or any other consequences, of the individual's participation in this retirement plan.