TERMINAL LEAVE PAY. A. In recognition of service to the school district, when a teacher retires from the school system after reaching minimum retirement age as defined by the Michigan Public School Employees' Retirement Board, a terminal leave payment will be allowed in the amount of 25% of accumulated sick leave at the time of retirement, to a maximum of $2,700.00.
Appears in 3 contracts
Samples: Master Agreement, Master Agreement, Master Agreement
TERMINAL LEAVE PAY. A. In recognition of service to the school district, when a teacher retires 1. Upon retirement and upon becoming eligible for retirement benefits from the school system after reaching minimum retirement age as defined by the Michigan Public School Employees' β Retirement BoardFund, a terminal leave payment will be allowed in the Xxxx Township School District shall pay to each teacher an amount of 25% of equal to $25 per accumulated unused sick leave at the time of retirement, to a maximum of $2,700.00days.
Appears in 2 contracts
TERMINAL LEAVE PAY. A. In recognition of service to the school district, when a teacher retires from the school system after reaching minimum retirement age as defined by the Michigan Public School Employees' Retirement Board, a terminal leave payment will be allowed in the amount of 25% of accumulated sick leave at the time of retirement, to a maximum of $2,700.001,800.00.
Appears in 1 contract
Samples: Master Agreement
