Common use of Terminal Pay Clause in Contracts

Terminal Pay. A. A terminal leave payment for unused, accumulated paid leave days will be paid upon retirement, provided the teacher shall have been employed in the school district for fifteen (15) years. The payment shall be calculated using the accumulated paid leave days (with a maximum of 170) multiplied by $50/day. Such payment shall be paid within forty-five (45) calendar days of the last date of service. Days compensated in this manner may not be donated to the sick leave bank. B. In order to qualify for the above payment, an otherwise eligible retiring teacher shall notify the Superintendent by April 15 for a retirement effective at the end of the school year. Such notification shall be made by November 1 for a retirement effective at the end of the calendar year. C. The terms "employed in the school district" whenever used in this Article shall mean employment as either a member of the bargaining unit as defined in the Recognition clause (Article I, ¶ A) of this Agreement or time employed in any professional administrative capacity for the Hastings Area School System. All other periods of non-bargaining unit service to the Hastings Area School System shall not be regarded or considered by the parties as time "employed in the school district" for purposes of eligibility for terminal leave retirement incentive, or other separation payments under this Article. D. A "year" of employment for purposes of this Article shall be fulfilled by teaching or administrative service of at least 93 days in a school fiscal year (July 1 - June 30). For purposes of this provision, "teaching or administrative service" shall be inclusive of periods of paid leave. Bargaining unit members who are "employed in the school district" (as defined in ¶ E of this Article) for less than 93 days in a given school year, may aggregate partial years of bargaining unit and/or administrative service with the Board for purposes of meeting the years of service requirements under this Article.

Terminal Pay. A. A Beginning with the 2014-2015 school year, a terminal leave payment for unused, accumulated paid leave days will be paid upon retirement, provided the teacher shall have been employed in the school district for fifteen (15) years. The payment shall be calculated using the accumulated paid leave days (with a maximum of 170) multiplied by $50/day. Such payment shall be paid within forty-five (45) 45 calendar days of the last date of service. Days compensated in this manner may not be donated to the sick leave bank. B. In order to qualify for the above payment, an otherwise eligible retiring teacher shall notify the Superintendent by April March 15 for a retirement effective at the end of the school year. Such notification shall be made by November 1 for a retirement effective at the end of the calendar year. C. The terms "employed in the school district" whenever used in this Article shall mean employment as either a member of the bargaining unit as defined in the Recognition clause (Article I, ¶ A) of this Agreement or time employed in any professional administrative capacity for the Hastings Area School System. All other periods of non-bargaining unit service to the Hastings Area School System shall not be regarded or considered by the parties as time "employed in the school district" for purposes of eligibility for terminal leave retirement incentive, or other separation payments under this Article. D. A "year" of employment for purposes of this Article shall be fulfilled by teaching or administrative service of at least 93 days in a school fiscal year (July 1 - June 30). For purposes of this provision, "teaching or administrative service" shall be inclusive of periods of paid leave. Bargaining unit members who are "employed in the school district" (as defined in ¶ E of this Article) for less than 93 days in a given school year, may aggregate partial years of bargaining unit and/or administrative service with the Board for purposes of meeting the years of service requirements under this Article.

Terminal Pay. A. A terminal leave payment for unused, accumulated paid leave days will be paid upon retirement, provided the teacher shall have been employed in the school district for fifteen (15) years. The payment shall be calculated using the accumulated paid leave days (with a maximum of 170) multiplied by $5075/day. Such payment shall be paid within forty-five (45) calendar days of the last date of service. Days compensated in this manner may not be donated to the sick leave bank. B. In order to qualify for the above payment, an otherwise eligible retiring teacher shall notify the Superintendent by April 15 for a retirement effective at the end of the school year. Such notification shall be made by November 1 for a retirement effective at the end of the calendar year. C. The terms "employed in the school district" whenever used in this Article shall mean employment as either a member of the bargaining unit as defined in the Recognition clause (Article I, ¶ A) of this Agreement or time employed in any professional administrative capacity for the Hastings Area School System. All other periods of non-bargaining unit service to the Hastings Area School System shall not be regarded or considered by the parties as time "employed in the school district" for purposes of eligibility for terminal leave retirement incentive, or other separation payments under this Article. D. A "year" of employment for purposes of this Article shall be fulfilled by teaching or administrative service of at least 93 days in a school fiscal year (July 1 - June 30). For purposes of this provision, "teaching or administrative service" shall be inclusive of periods of paid leave. Bargaining unit members who are "employed in the school district" (as defined in ¶ E of this Article) for less than 93 days in a given school year, may aggregate partial years of bargaining unit and/or administrative service with the Board for purposes of meeting the years of service requirements under this Article. E. An employee may choose to convert terminal pay into a pre-tax benefit or any defined tax free vehicle, once 50 days of sick time have been accumulated. Employees opting to convert accumulated sick time must notify the District prior to the first pay period of each school year.

Terminal Pay. A. A terminal leave payment for unused, accumulated paid leave days will be paid upon retirement, provided the teacher shall have been employed in the school district for fifteen (15) years. The payment shall be calculated using the accumulated paid leave days (with a maximum of 170) multiplied by $50/day. Such payment shall be paid within forty-five (45) 45 calendar days of the last date of service. Days compensated in this manner may not be donated to the sick leave bank. B. In order to qualify for the above payment, an otherwise eligible retiring teacher shall notify the Superintendent by April March 15 for a retirement effective at the end of the school year. Such notification shall be made by November 1 for a retirement effective at the end of the calendar year. C. The terms "employed in the school district" whenever used in this Article shall mean employment as either a member of the bargaining unit as defined in the Recognition clause (Article I, ¶ A) of this Agreement or time employed in any professional administrative capacity for the Hastings Area School System. All other periods of non-bargaining unit service to the Hastings Area School System shall not be regarded or considered by the parties as time "employed in the school district" for purposes of eligibility for terminal leave retirement incentive, or other separation payments under this Article. D. A "year" of employment for purposes of this Article shall be fulfilled by teaching or administrative service of at least 93 days in a school fiscal year (July 1 - June 30). For purposes of this provision, "teaching or administrative service" shall be inclusive of periods of paid leave. Bargaining unit members who are "employed in the school district" (as defined in ¶ E of this Article) for less than 93 days in a given school year, may aggregate partial years of bargaining unit and/or administrative service with the Board for purposes of meeting the years of service requirements under this Article.

Terminal Pay. A. A Beginning with the 2012-2013 school year, a terminal leave payment for unused, accumulated paid leave days will be paid upon retirement, provided the teacher shall have been employed in the school district for fifteen (15) years. The payment shall be calculated using the accumulated paid leave days (with a maximum of 170150) multiplied by $50/day. Such payment shall be paid within forty-five (45) 45 calendar days of the last date of service. Days compensated in this manner may not be donated to the sick leave bank. B. In order to qualify for the above payment, an otherwise eligible retiring teacher shall notify the Superintendent by April March 15 for a retirement effective at the end of the school year. Such notification shall be made by November 1 for a retirement effective at the end of the calendar year. C. The terms "employed in the school district" whenever used in this Article shall mean employment as either a member of the bargaining unit as defined in the Recognition clause (Article I, ¶ A) of this Agreement or time employed in any professional administrative capacity for the Hastings Area School System. All other periods of non-bargaining unit service to the Hastings Area School System shall not be regarded or considered by the parties as time "employed in the school district" for purposes of eligibility for terminal leave retirement incentive, or other separation payments under this Article. D. A "year" of employment for purposes of this Article shall be fulfilled by teaching or administrative service of at least 93 days in a school fiscal year (July 1 - June 30). For purposes of this provision, "teaching or administrative service" shall be inclusive of periods of paid leave. Bargaining unit members who are "employed in the school district" (as defined in ¶ E of this Article) for less than 93 days in a given school year, may aggregate partial years of bargaining unit and/or administrative service with the Board for purposes of meeting the years of service requirements under this Article.