VOLUNTARY RETIREMENT SUPPLEMENT Sample Clauses

VOLUNTARY RETIREMENT SUPPLEMENT. A full time, tenure teacher currently working in the District is eligible for a voluntary retirement supplement from the Board if he/she is on the top step of the salary schedule, and has taught in the Chippewa Valley Schools for any seven (7) consecutive years prior to the date of his/her retirement. For the purpose of this provision, a teacher who is absent without pay for more than fifty (50) days in a school year would not receive credit for that school year. In the event that a person leaves and subsequently returns to the bargaining unit he/she must re-qualify for the time period for the voluntary retirement supplement -- any seven (7) consecutive years after his/her return to the bargaining unit. The supplement will be paid on a monthly basis and will begin after severance of active employment with the school district. The supplement shall be $335 per month from the date of retirement until the month in which the teacher is eligible for Social Security benefits, up to a maximum of seven (7) calendar years, or eighty-four (84) months. No further supplement will be paid after the death of said teacher except for the month in which the death occurs. To be eligible for this program a teacher must have applied for and been accepted for benefits under the Michigan Public School Employees Retirement System and cannot apply for nor draw unemployment compensation. Each teacher applying for and receiving a voluntary retirement supplement will receive hospitalization, dental, vision and life insurance paid by the Board through September of the year in which the retirement occurs, provided such coverage is permitted by the insurance carrier. Teachers retiring due to a medical disability which qualifies for retirement benefits from the Social Security Administration, the Michigan Public School Employees Retirement System, Worker’s Compensation, and Board or other Disability Insurance, are not eligible to qualify for benefits under this plan. Problems involving the implementation of this plan will be solved by a committee composed of two (2) teachers selected by the Association and two (2) Administrators selected by the Superintendent/Designee. These issues are not subject to the Grievance Procedure. The extension of the voluntary retirement supplement at the end of this contract will be determined by the parties on a mutually agreeable basis.
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VOLUNTARY RETIREMENT SUPPLEMENT. 22.0 In the event a voluntary retirement supplement is provided to any other group within the school system, the Board of Education and representatives of the administrative staff shall develop a voluntary retirement supplement program for the administrative group. EMPLOYMENT RESTRICTIONS
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VOLUNTARY RETIREMENT SUPPLEMENT. (64) In the event a vol1ll1taryretirement supplement is provided to any other group within the school system, the Board of Education and representatives of the administrative staff shall develop a vol1ll1taryretirement supplement program for the administrative group.
Sample 1
VOLUNTARY RETIREMENT SUPPLEMENT. A full time, tenure teacher currently working in the District is eligible for a voluntary retirement supplement from the Board if he/she is on the top step of the salary schedule, and has taught in the Chippewa Valley Schools for any seven (7) consecutive years prior to the date of his/her retirement. For the purpose of this provision, a teacher who is absent without pay for more than fifty (50) days in a school year would not receive credit for that school year. In the event that a person leaves and subsequently returns to the bargaining unit he/she must re-qualify for the time period for the voluntary retirement supplement -- any seven (7) consecutive years after his/her return to the bargaining unit. The supplement will be paid on a monthly basis and will begin after severance of active employment with the school district. The supplement shall be $335.00 per month from the date of retirement until the month in which the teacher is eligible for Social Security benefits, up to a maximum of seven (7) calendar years, or eighty-four
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Related to VOLUNTARY RETIREMENT SUPPLEMENT

  • Voluntary Resignation (2) Discharge for just cause.

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Supplemental Life Insurance In addition to the life insurance benefits provided by this agreement, employees may subscribe voluntarily and at their own expense for supplemental life insurance. Employees may subscribe for an amount not to exceed five hundred thousand dollars ($500,000), of which one hundred thousand ($100,000) is a guaranteed issue, provided the election is made within the required enrollment periods.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Voluntary Termination Executive may voluntarily terminate Executive’s employment for any reason upon 30 days’ prior written notice. In such event, after the effective date of such termination, except as provided in Section 2.2 with respect to a resignation for Good Reason, no further payments shall be due under this Agreement, except that Executive shall be entitled to any benefits accrued in accordance with the terms of any applicable benefit plans and programs of the Company.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • AUTOMATIC RESIGNATION a. If an employee fails to report to his/her worksite, and has given no notification to his/her appointing authority or direct supervisor, the employee shall be considered absent without leave. If an employee is absent without leave for five (5) consecutive workdays, such employee shall be considered to have voluntarily resigned from County service. A notice of automatic resignation shall be sent by certified mail to the employee's last known address. The last known address shall be deemed to be that address which is within the personnel file of the employee within the department to which he/she is assigned.

  • Mandatory Retirement Retirement shall be mandatory only to the extent required by law.

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