TRS Three Year Plan Sample Clauses
TRS Three Year Plan. If an eligible employee gives the Board a letter of retirement on or before March 1, three (3) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final three (3) years of employment the employee’s TRS creditable earning shall be increased by six percent (6%) over the employee’s TRS creditable earnings for the prior years of employment respectively.
TRS Three Year Plan. If an eligible employee gives the Board a letter of retirement on or before March 1, three (3) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final three (3) years of employment the employee’s TRS creditable earning shall be increased by six percent (6%) over the employee’s TRS creditable earnings for the prior years of employment respectively. • The employee’s prior year TRS creditable earnings for 2011-12 were $40,000. • The employee’s TRS creditable earnings for 2012-13 will be $42,400. (i.e., $40,000 x 1.06=$42,400.) • The creditable earnings for 2013-14 will be $44,944 (i.e. $42,400 x 1.06=$44,944). • The creditable earnings for the final year of 2014-15 will be $47,640.64. (i.e., $44,944 x 1.06 = $47,640.64).