Common use of Early Retirement Program Clause in Contracts

Early Retirement Program. During any school year, the WCUUSD School Board may, at its sole discretion, offer the early retirement program below to one or more of its teachers who have at least fifteen (15) years of full or part-time teaching service in the WCUUSD by July 1 of the school year in which the program is offered. The program will only be available if the Board affirmatively votes to adopt the program for that given school year on or before November 1 of that school year. In those cases where an eligible teacher works part-time in two or more schools, and only one of those schools offers the career change option, the teacher may accept the option offered and continue to teach part-time in the other school. The teacher accepting the option may not increase his/her part-time teaching increment in the other school, or otherwise seek or accept additional full or part-time employment as a teacher in Vermont during the three year period specified herein. In the event the board votes to offer an early retirement program, the benefit package shall be as follows: a. A cash payout that represents fifty percent (50%) of the teacher’s current teaching salary during their final year with the District. The payout will be made in three (3) equal installments on September 1 of the next three (3) school years following the teacher’s resignation. At the option of the teacher, the monetary value of the cash payout may be applied by the District, in whole or in part, to the purchase of “air time” from the Vermont State Teachers’ Retirement system on behalf of the teacher. b. Twelve (12) months of single health insurance coverage for the teacher under the District’s policy, subject to the regular board-teacher contributions to the cost of premium and maximum out-of-pocket contribution established in this Agreement or, if the teacher chooses the Vermont Teachers’ Retirement System health insurance program, the District will pay twenty (20) percent of the teacher’s premium for single health insurance for one year following the June 30 effective date of the teacher’s resignation, whichever is less. The teacher may purchase dependent coverage, if desired, but he or she will be responsible for the difference in cost between single coverage and either two- person, parent/child or family coverage. The parties agree that the District will not be obligated to provide the insurance benefit referenced above should the employee be eligible for group health insurance coverage from a subsequent employer, or from the Vermont State Teachers’ Retirement system. If allowed under the current insurance plan, the teacher may purchase medical and dental insurance coverage through the District’s group policy for the remainder of the payout period, or whatever shorter period is allowed. c. A teacher who meets the criteria delineated herein and who desires to apply for the retirement incentive will submit an application on a form devised by the Board, along with an irrevocable letter of resignation to the Board on or before the deadline established by the Board in its early retirement offering. The teacher’s resignation will be effective June 30, at the conclusion of the school year. The Board may establish the maximum number of participants in the program in any year in which it is offered. If the number of applicants exceeds the number established by the Board, and the Board declines to accept that number of applicants, the program participant(s) will be selected by lottery conducted by the Board. If the teacher is not accepted into the early retirement program, his/her letter of resignation will be returned to him/her. d. The Board may, at its discretion, increase the maximum number of teachers who may elect this benefit after any initial limits established by the Board have been met. e. A teacher electing the employment change option set forth herein must agree not to seek or accept other employment in Vermont as a teacher for a three (3) year period. f. A teacher who elects this benefit will not be entitled to recall rights. g. In the event that a lottery is necessary to determine the teacher(s) who will participate in the early retirement program, the Association will designate two members to participate along with the designees of the Board to ensure that a fair process is followed.

Early Retirement Program. During any school year, the WCUUSD School Board of any Elementary District, the U-32 School District, and/or the Washington Central Supervisory Union may, at its sole discretion, offer the early retirement program below to one or more of its teachers who have at least fifteen (15) years of full or part-time teaching service in the WCUUSD Washington Central Supervisory Union by July 1 of the school year in which the program is offered. The program will only be available at any given school district within the Supervisory Union if the its Board affirmatively votes to adopt the program for that given school year on or before November 1 of that school year. In those cases where an eligible teacher works part-time in two or more schoolsschool districts, and only one of those schools districts offers the career change option, the teacher may accept the option offered and continue to teach part-time in the other schooldistrict. The teacher accepting the option may not increase his/her part-time teaching increment in the other schooldistrict, or otherwise seek or accept additional full or part-part- time employment as a teacher in Vermont during the three year period specified herein. In the event the a board votes or boards vote to offer an early retirement program, the benefit package shall be as follows: a. A cash payout that represents fifty percent (50%) of the teacher’s current teaching salary during their final year with the Districtdistrict. The payout will be made in three (3) equal installments on September 1 of the next three (3) school years following the teacher’s resignation. At the option of the teacher, the monetary value of the cash payout may be applied by the Districtdistrict, in whole or in part, to the purchase of “air time” from the Vermont State Teachers’ Retirement system on behalf of the teacher. b. Twelve (12) months of single health insurance coverage for the teacher under the Districtdistrict’s policy, subject to the regular board-teacher contributions to the cost of premium and maximum out-of-pocket contribution established in this Agreement or, if the teacher chooses the Vermont Teachers’ Retirement System health insurance program, the District district will pay twenty (20) percent of the teacher’s premium for single health insurance for one year following the June 30 effective date of the teacher’s resignation, whichever is less. The teacher may purchase dependent coverage, if desired, but he or she will be responsible for the difference in cost between single coverage and either two- person, parent/child or family coverage. The parties agree that the District district will not be obligated to provide the insurance benefit referenced above should the employee be eligible for group health insurance coverage from a subsequent employer, or from the Vermont State Teachers’ Retirement system. If allowed under the current insurance plan, the teacher may purchase medical and dental insurance coverage through the Districtdistrict’s group policy for the remainder of the payout period, or whatever shorter period is allowed. c. A teacher who meets the criteria delineated herein and who desires to apply for the retirement incentive will submit an application on a form devised by the BoardBoards, along with an irrevocable letter of resignation to the Board on or before the deadline established by the Board in its early retirement offering. The teacher’s resignation will be effective June 30, at the conclusion of the school year. The A Board may establish the maximum number of participants in the program in any year in which it is offered. If the number of applicants exceeds the number established by the Board, and the Board declines to accept that number of applicants, the program participant(s) will be selected by lottery conducted by the Board. If the teacher is not accepted into the early retirement program, his/her letter of resignation will be returned to him/her. d. The Board may, at its discretion, increase the maximum number of teachers in any district who may elect this benefit after any initial limits established by the Board have been met. e. A teacher electing the employment change option set forth herein must agree not to seek or accept other employment in Vermont as a teacher for a three (3) year period. f. A teacher who elects this benefit will not be entitled to recall rights. g. In the event that a lottery is necessary to determine the teacher(s) who will participate in the early retirement program, the Association will designate two members to participate along with the designees of the Board to ensure that a fair process is followed.three

Early Retirement Program. During any school year, the WCUUSD School Board may, at its sole discretion, offer the early retirement program below to one or more of its teachers who have at least fifteen (15) years of full or part-time teaching service in the WCUUSD by July 1 of the school year in which the program is offered. The program will only be available if the Board affirmatively votes to adopt the program for that given school year on or before November 1 of that school year. In those cases where an eligible teacher works part-time in two or more schools, and only one of those schools offers the career change option, the teacher may accept the option offered and continue to teach part-time in the other school. The teacher accepting the option may not increase his/her part-time teaching increment in the other school, or otherwise seek or accept additional full or part-time employment as a teacher in Vermont during the three year period specified herein. In the event the board votes to offer an early retirement program, the benefit package shall be as follows: a. A cash payout that represents fifty percent (50%) of the teacher’s current teaching salary during their final year with the Districtdistrict. The payout will be made in three (3) equal installments on September 1 of the next three (3) school years following the teacher’s resignation. At the option of the teacher, the monetary value of the cash payout may be applied by the Districtdistrict, in whole or in part, to the purchase of “air time” from the Vermont State Teachers’ Retirement system on behalf of the teacher. b. Twelve (12) months of single health insurance coverage for the teacher under the Districtdistrict’s policy, subject to the regular board-teacher contributions to the cost of premium and maximum out-of-pocket contribution established in this Agreement or, if the teacher chooses the Vermont Teachers’ Retirement System health insurance program, the District district will pay twenty (20) percent of the teacher’s premium for single health insurance for one year following the June 30 effective date of the teacher’s resignation, whichever is less. The teacher may purchase dependent coverage, if desired, but he or she will be responsible for the difference in cost between single coverage and either two- person, parent/child or family coverage. The parties agree that the District district will not be obligated to provide the insurance benefit referenced above should the employee be eligible for group health insurance coverage from a subsequent employer, or from the Vermont State Teachers’ Retirement system. If allowed under the current insurance plan, the teacher may purchase medical and dental insurance coverage through the Districtdistrict’s group policy for the remainder of the payout period, or whatever shorter period is allowed. c. A teacher who meets the criteria delineated herein and who desires to apply for the retirement incentive will submit an application on a form devised by the Board, along with an irrevocable letter of resignation to the Board on or before the deadline established by the Board in its early retirement offering. The teacher’s resignation will be effective June 30, at the conclusion of the school year. The Board may establish the maximum number of participants in the program in any year in which it is offered. If the number of applicants exceeds the number established by the Board, and the Board declines to accept that number of applicants, the program participant(s) will be selected by lottery conducted by the Board. If the teacher is not accepted into the early retirement program, his/her letter of resignation will be returned to him/her. d. The Board may, at its discretion, increase the maximum number of teachers who may elect this benefit after any initial limits established by the Board have been met. e. A teacher electing the employment change option set forth herein must agree not to seek or accept other employment in Vermont as a teacher for a three (3) year period. f. A teacher who elects this benefit will not be entitled to recall rights. g. In the event that a lottery is necessary to determine the teacher(s) who will participate in the early retirement program, the Association will designate two members to participate along with the designees of the Board to ensure that a fair process is followed.three

Early Retirement Program. During any school year, the WCUUSD School Board of any Elementary District, the U-32 School District, and/or the Washington Central Supervisory Union may, at its sole discretion, offer the early retirement program below to one or more of its teachers who have at least fifteen (15) years of full or part-time teaching service in the WCUUSD Washington Central Supervisory Union by July 1 of the school year in which the program is offered. The program will only be available at any given school district within the Supervisory Union if the its Board affirmatively votes to adopt the program for that given school year on or before November 1 of that school year. In those cases where an eligible teacher works part-time in two or more schoolsschool districts, and only one of those schools districts offers the career change option, the teacher may accept the option offered and continue to teach part-time in the other schooldistrict. The teacher accepting the option may not increase his/her part-time teaching increment in the other schooldistrict, or otherwise seek or accept additional full or part-part- time employment as a teacher in Vermont during the three year period specified herein. In the event the a board votes or boards vote to offer an early retirement program, the benefit package shall be as follows: a. A cash payout that represents fifty percent (50%) of the teacher’s current teaching salary during their final year with the Districtdistrict. The payout will be made in three (3) equal installments on September 1 of the next three (3) school years following the teacher’s resignation. At the option of the teacher, the monetary value of the cash payout may be applied by the Districtdistrict, in whole or in part, to the purchase of “air time” from the Vermont State Teachers’ Retirement system on behalf of the teacher. b. Twelve (12) months of single health insurance coverage for the teacher under the Districtdistrict’s policy, subject to the regular board-teacher contributions to the cost of premium and maximum out-of-pocket contribution established in this Agreement or, if the teacher chooses the Vermont Teachers’ Retirement System health insurance program, the District district will pay twenty (20) percent of the teacher’s premium for single health insurance for one year following the June 30 effective date of the teacher’s resignation, whichever is less. The teacher may purchase dependent coverage, if desired, but he or she will be responsible for the difference in cost between single coverage and either two- person, parent/child two-person or family coverage. The parties agree that the District district will not be obligated to provide the insurance benefit referenced above should the employee be eligible for group health insurance coverage from a subsequent employer, or from the Vermont State Teachers’ Retirement system. If allowed under the current insurance plan, the teacher may purchase medical and dental insurance coverage through the Districtdistrict’s group policy for the remainder of the payout period, or whatever shorter period is allowed. c. A teacher who meets the criteria delineated herein and who desires to apply for the retirement incentive will submit an application on a form devised by the BoardBoards, along with an irrevocable letter of resignation to the Board on or before the deadline established by the Board in its early retirement offering. The teacher’s resignation will be effective June 30, at the conclusion of the school year. The A Board may establish the maximum number of participants in the program in any year in which it is offered. If the number of applicants exceeds the number established by the Board, and the Board declines to accept that number of applicants, the program participant(s) will be selected by lottery conducted by the Board. If the teacher is not accepted into the early retirement program, his/her letter of resignation will be returned to him/her. d. The Board may, at its discretion, increase the maximum number of teachers in any district who may elect this benefit after any initial limits established by the Board have been met. e. A teacher electing the employment change option set forth herein must agree not to seek or accept other employment in Vermont as a teacher for a three (3) year period. f. A teacher who elects this benefit will not be entitled to recall rights. g. In the event that a lottery is necessary to determine the teacher(s) who will participate in the early retirement program, the Association will designate two members to participate along with the designees of the Board to ensure that a fair process is followed.three