WITHDRAWAL FROM PLAN OR POSTPONEMENT OF LEAVE a) Withdrawal from the Plan may be permitted by the Board in extenuating circumstances such as financial hardship. Where withdrawal is permitted, the Teacher will be entitled to the monies withheld plus unpaid interest, which monies shall be paid as soon as possible but in any case within thirty (30) days of the Board’s decision to permit withdrawal.
WITHDRAWAL FROM PLAN OR POSTPONEMENT OF LEAVE. (a) Withdrawal from the Plan may be permitted by the Board in extenuating circumstances such as financial hardship. Where withdrawal is permitted, the Teacher will be entitled to the monies withheld plus unpaid interest, which monies shall be paid as soon as possible but in any case within thirty (30)days of the Board's decision to permit withdrawal. The administrative costs associated with processing the request and the payments of the monies and interest shall be borne by the Teacher. The determined cost for withdrawal from the Plan has been set at In the event that a suitable replacement cannot be found for a Teacher who has been granted a leave, the Board may defer the leave for up to one (1)year. In this instance, the Teacher may choose to remain in the Plan or receive payment as outlined in sub-section (3). If the Teacher chooses to remain in the Plan, any monies shall continue to earn interest until the leave of absence is taken. A Teacher who has been granted a leave of absence under this Plan may apply to the Board by January of the school year immediately preceding the September on which the leave is to be commenced to have the leave of absence postponed by one year.
