Compensation To Retiring Teachers Sample Clauses

Compensation To Retiring Teachers. Upon retirement from the teaching profession and through KPERS, a teacher who has completed 15 years or more of full-time employment with USD #457 shall be entitled to a one-time contribution by USD #457 into a Retirement Plan Portfolio established for the teacher. The amount of additional payment shall be as follows: 15 years of service 8% 16 years of service 9% 17 years of service 10% 18 years of service 12% 19 years of service 14% 20 or more years of service 16.67% *All percentages listed above are percentages of the teacher’s contracted salary, excluding extra days and supplementals In addition, if the employee has 20 or more unused emergency leave days at the end of his/her employment with USD #457, he/she will be entitled to additional pay equal to $34 for each unused emergency leave day up to 70 total days. To be eligible the teacher must give written notice to the Personnel Office of his/her intended retirement by March 15 of the year of retirement. The notice shall be irrevocable upon acceptance by the Board of Education. All teachers who have more than 70 days of unused emergency leave as of June 30 of the current year and who are retiring under KPERS, may elect to forfeit up to 15 days of the unused emergency leave days in excess of 70 in exchange for 100% of base substitute pay per day forfeited. In the event of the death of such teacher during the last contract year prior to retirement, a sum equal to the additional pay referred to in this section, prorated by the number of contract days completed by the teacher for that year prior to death, shall be paid to the teacher’s surviving spouse, or in the absence thereof to the teacher’s estate. If a teacher wishes to retire at the end of the current contract year and receive the additional benefits referred to in this section, but has not given written notice by March 15, he/she may request the additional benefits by making an application in writing to the Superintendent of Schools stating the specific reasons for the waiver of the March 15 deadline. Each such request will be judged on its own merits, and a hearing will be held before the Appeals Panel that hears requests for the waiver of resignation fees. The hearing will be held within five working days after being received by the Superintendent of Schools. The Appeals Panel will make a recommendation to the Board of Education at their next regularly scheduled meeting. The BOE may choose to accept or reject the recommendation of the appeals pane...
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Related to Compensation To Retiring Teachers

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.

  • EMPLOYMENT OF RETIRED TEACHERS A. For purposes of salary schedule placement, a retired Teacher will be granted a maximum of ten (10) years’ service credit and their educational attainment. A retired Teacher may not advance beyond Level 10 on the salary schedule.

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

  • Termination and Post-Termination Continuation of Services If either Party provides Notice of Termination pursuant to Section 6.3 and, by 11:59 p.m. Central Time on the stated date of termination, neither Party has requested negotiation of a new Interconnection agreement, then (a) this Agreement will terminate at 11:59 p.m. Central Time on the termination date identified in the Notice of Termination, and (b) the services and functions being provided by CenturyLink under this Agreement at the time of termination, including Interconnection arrangements and the exchange of Local Traffic, may be terminated by CenturyLink unless the Parties jointly agree to other continuing arrangements.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Re-employment After Voluntary Termination or Dismissal for Cause Where an employee voluntarily leaves the Employer's service, or is dismissed for cause and is later re-engaged, seniority and all perquisites shall date only from the time of re-employment, according to regulations applying to new employees.

  • Coverage Selection Prior to Retirement An employee who retires and is eligible to continue insurance coverage as a retiree may change his/her health or dental plan during the sixty (60) calendar day period immediately preceding the date of retirement. The employee may not add dependent coverage during this period. The change takes effect on the first day of the month following the date of retirement.

  • Employer Compensation Upon Separation An Employee, upon her separation from employment, shall compensate the Employer for vacation which was taken but to which she was not entitled.

  • Requiring Minimum Compensation for Covered Employees a. Contractor agrees to comply fully with and be bound by all of the provisions of the Minimum Compensation Ordinance (MCO), as set forth in San Francisco Administrative Code Chapter 12P (Chapter 12P), including the remedies provided, and implementing guidelines and rules. The provisions of Sections 12P.5 and 12P.5.1 of Chapter 12P are incorporated herein by reference and made a part of this Agreement as though fully set forth. The text of the MCO is available on the web at xxx.xxxxx.xxx/xxxx/xxx. A partial listing of some of Contractor's obligations under the MCO is set forth in this Section. Contractor is required to comply with all the provisions of the MCO, irrespective of the listing of obligations in this Section.

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