TERMINAL LEAVE. A. A teacher who retires in accordance with the provisions of the Michigan Public School Employees Retirement Act shall receive either $55/day for each day of accumulated sick leave or $100/year for each year of service to the East Lansing School District. The maximum amount payable shall not exceed $7,500. Proof of retirement application is required under this section. This payment shall be made on a lump-sum basis in the fiscal year immediately following the retirement. The teacher may elect to receive that payment in either July or January.
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TERMINAL LEAVE. A. A teacher who retires in accordance with the provisions of the Michigan Public School Employees Retirement Act shall receive either $55/day for each day of accumulated sick leave or $100/year for each year of service to the East Lansing School District. The maximum amount payable shall not exceed $7,500. Proof of retirement application is required under this section. This payment shall be made on a lump-sum basis in the fiscal year immediately following the retirement. The teacher may elect to receive that payment in either July or January.
Appears in 2 contracts
TERMINAL LEAVE. A. A teacher who retires in accordance with the provisions of the Michigan Public School Employees Retirement Act shall receive either $5565/day for each day of accumulated sick leave or $100/year for each year of service to the East Lansing School District. The maximum amount payable shall not exceed $7,5008,500. Proof of retirement application is required under this section. This payment shall be made on a lump-sum basis in the fiscal year immediately following the retirement. The teacher may elect to receive that payment in either July or January.
Appears in 1 contract
Samples: Agreement
