Teacher Retirement System Plan Sample Clauses

Teacher Retirement System Plan. All Members of the Bargaining Unit who have elected to participate in this plan, and whose election has been approved, shall receive the benefits set forth in this plan, to the extent that they may be provided without obligating the Board to pay any new or additional employer contribution, charge, or penalty to the Illinois Teachers' Retirement System ("TRS") or any other State entity. A Member of the Bargaining Unit with ten (10) or more years of service in the District and who is eligible for retirement through TRS may give irrevocable notice of retirement to the employer up to four years in advance of the expected retirement date. Notice shall be made to the Superintendent or their designee in writing no later than April 1 of the year prior to the year in which the Member of the Bargaining Unit would begin participation. An individual agreement is executed that provides the Member of the Bargaining Unit with a guaranteed (vested) benefit. In the event employee circumstances change and the Member of the Bargaining Unit desires to retire earlier than stipulated in the initial letter, a second letter specifying the earlier retirement date must be received by the Superintendent or their designee no later than January 15 of the year in which the Member of the Bargaining Unit now seeks to retire. Under no circumstances shall a revised letter delay the retirement date or cause the District to incur any cost over and beyond what would have been incurred as a result of the submission and approval of the original letter requesting retirement.
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Related to Teacher Retirement System Plan

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Retirement System The withdrawal of employee contributions made on or after January 1, 2014 may also be withdrawn but only on an actuarially neutral basis. The actuarial present value of the pension reduction shall be equal to the amount of accumulated member contributions withdrawn. The actuarial present value shall computed using the interest rate used in the annual actuarial valuation and the mortality table used in the annual actuarial valuation with a 50% unisex blend.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Retirement Programs The Company agrees to provide Employees with the benefits under the Magna Group of Companies Retirement Savings Program as set out in the Employee Retirement Savings Program Booklets.

  • PERFORMANCE MANAGEMENT SYSTEM 5.1 The Employee agrees to participate in the performance management system that the Employer adopts or introduces for the Employer, management and municipal staff of the Employer.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Earned Value Management System ‌ An earned value management system (EVMS) means a project management tool that effectively integrates the project scope of work with cost, schedule and performance elements for optimum project planning and control. The qualities and operating characteristics of EVMS are described in American National Standards Institute /Electronics Industries Alliance (ANSI/EIA) Standard-748. An EVMS is not mandatory; however, Contractors are encouraged to have an EVMS ANSI/EIA Standard-748 during the entire term of OASIS. The Contractor shall notify the OASIS CO, in writing, if there are any changes in the status of their EVMS and provide the reasons for the change and copies of audits by the Defense Contract Management Agency (DCMA) or other cognizant Government administration office, as applicable. If only part of a Contractor’s organization is EVMS ANSI/EIA Standard-748 certified, the Contractor shall make the distinction between which business units or sites and geographic locations have been certified.

  • Orientation and In-Service Program The Hospital recognizes the need for a Hospital Orientation Program of such duration as it may deem appropriate taking into consideration the needs of the Hospital and the nurses involved.

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

  • EMPLOYMENT OF RETIRED TEACHERS A. For purposes of salary schedule placement, a retired Teacher will be granted a maximum of ten (10) years’ service credit and their educational attainment. A retired Teacher may not advance beyond Level 10 on the salary schedule.

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