CALCULATION OF CURRENT TEACHERS’ RETIRING ALLOWANCE Sample Clauses

CALCULATION OF CURRENT TEACHERS’ RETIRING ALLOWANCE. Subject to the provisions of clause 7 hereinafter stipulated, any current Teacher who has retired from his or her employment with the Board is entitled to a retiring allowance equal to the aggregate of:
Sample 1
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Related to CALCULATION OF CURRENT TEACHERS’ RETIRING ALLOWANCE

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

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

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • 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.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Salary Determination 12.5.1 A unit member shall receive a salary not less than the minimum salary nor more than the maximum salary (Articles 12.3 and 12.4) for the rank to which appointed, except as provided in Articles 4.15, 5.6, 10.6.1 or Article 10.6.1.1. The effective dates for salaries shall be the appropriate dates specified in Article 12.2.2.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day.

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