Common use of Terminal Leave Pay Clause in 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 $2,700.00. B. Retirement shall mean permanent discontinuance of teaching and shall not apply if the teacher is moving to accept another teaching position in another school district. C. The retiring teacher shall have been employed by the Frankfort-Elberta Area School District for at least ten (10) years.

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. B. Retirement shall mean permanent discontinuance of teaching and shall not apply if the teacher is moving to accept another teaching position in another school district. C. The retiring teacher shall have been employed by the Frankfort-Elberta Area School District for at least ten (10) years.