Early Retirement Incentive definition

Early Retirement Incentive. As an incentive for early retirement, the Board agrees to provide those teachers selecting early retirement, in accordance with provisions of the Michigan Public School Employees Retirement System (MPSERS), a one-time terminal leave payment of $7,500 providing the teacher has had twelve (12) years of continuous service in the District. Enhanced Early Retirement Incentive -- Certain employees who are eligible for the $7,500 early retirement incentive payment will be eligible for an enhanced early retirement benefit amount calculated according to the following formula:
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Early Retirement Incentive. As an incentive for early retirement, the Board agrees to provide those teachers selecting early retirement, in accordance with provisions of the Michigan Public School Employees Retirement System (MPSERS), a one-time terminal leave payment of $7,500 providing the teacher has had twelve (12) years of continuous service in the District. Enhanced Early Retirement Incentive -- Certain employees who are eligible for the $7,500 early retirement incentive payment will be eligible for an enhanced early retirement benefit amount calculated according to the following formula: (dollars) ($--------) available to me pursuant to Article 14, Section L, of the Collective Bargaining Agreement between the ▇▇▇▇▇ Rapids Board of Education and the ▇▇▇▇▇ County Education Association and that I qualify for said benefits. Initial IEP's Change of Program/School IEP Attending - Parents/Guardians Transition IEP (moving up a grade to a new school) Attending - Parents/Guardians Annual IEP Three (3) Year Evaluation IEP Attending - Parents/Guardians Section 504 Meeting
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Early Retirement Incentive. If the School Board would decide to offer an early retirement incentive to teachers during the 2021-2022 or 2022-2023 school years, then the Superintendent will notify eligible teachers of the terms of the early retirement incentive by no later than March 1, 2022 for the 2021-2022 contract year and no later than March 1, 2023 for the 2022-2023 contract year. If an early retirement incentive would be offered by the School Board during the 2021-2022 or 2022-2023 school years and an eligible teacher would like to accept the incentive, then such eligible teacher must notify the Administration of his/her intention to accept the early retirement incentive by no later than May 3, 2022 (2021-2022) or May 3, 2023 (2022-2023) respectively.
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Examples of Early Retirement Incentive in a sentence

  • The employee retirement contribution rate shall return to six percent (6%) in accordance with the Early Retirement Incentive Program (ERIP) agreement dated October 26, 2009 and LAAC Section 4.1033, which provides that this seven percent (7%) employee retirement contribution will continue until June 30, 2026 or until the ERIP cost obligation is fully paid, whichever comes first.

  • Any employee who is employed in a classification covered by the Correctional Employees Retirement Plan (M.S. §§352.91 and 352.911) shall be eligible to retire under one of the following Corrections Early Retirement Incentive programs if the conditions for eligibility as set forth in Section 3C4b below are met.

  • The employee shall complete an LTD Plan Early Retirement Incentive Benefit Application.

  • The Committee will have access to all relevant information available to the Trust to determine the cost savings experienced by the LTD Plan as a result of the Early Retirement Incentive Provisions.

  • Upon approval of the employee’s application, the employee and the Healthcare Benefit Trust will jointly sign the Terms of the LTD Plan Early Retirement Incentive Benefit and the employee and the members of the Joint LTD Plan Early Retirement Incentive Committee shall sign the LTD Plan Early Retirement Incentive Agreement on behalf of the Parties to the Collective Agreement.

  • If the employee does not apply by July 1, he/she will not receive payment for unused sick days or Early Retirement Incentive until July of the following year.

  • The LTD Plan Early Retirement Incentive Benefit is to ensure that the eligible employee will not realize a pension benefit that is less than the pension benefit that she would have been entitled to receive at the normal retirement date, had she not applied for early retirement, regardless of when the early retirement incentive provision is activated.

  • The LTD Plan Early Retirement Incentive Benefit is to ensure that the eligible employee will not realize a pension benefit that is less than the pension benefit that she/he would have been entitled to receive at the normal retirement date, had she/he not applied for early retirement, regardless of when the early retirement incentive provision is activated.

  • The LTD Plan Early Retirement Incentive Benefit is to ensure that the eligible employee will not realize a pension benefit that is less than the pension benefit that he/she would have been entitled to receive at the normal retirement date, had he/she not applied for early retirement, regardless of when the early retirement incentive provision is activated.

  • However, the monthly Employer-paid portion of the medical/dental premium shall not increase by more than fifty dollars ($50) above the monthly amount paid by the Employer at the time of their retirement in the pay period the employee is receiving the Corrections Early Retirement Incentive.