Common use of Five Year Plan Clause in Contracts

Five Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to January 1, five (5) years prior to the year of retirement, the employee will be removed from the salary schedule, and for the final five (5) years of employment the employee’s TRS creditable earnings shall be increased by five percent (5%) over the employee’s TRS creditable earnings for the prior years of employment respectively.

Five Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement no earlier than January 1 five (5) years prior to beginning the incentive, but prior to January 1, five four (54) years prior to the year of retirement, the employee will be removed from the salary schedule, and for the final five (5) years of employment the employee’s TRS creditable earnings shall be increased by five percent (5%) over the employee’s TRS creditable earnings for the prior years of employment respectively.

Five Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to January 1, five four (54) years prior to the year of retirement, the employee will be removed from the salary schedule, and for the final five (5) years of employment the employee’s TRS creditable earnings shall be increased by five percent (5%) over the employee’s TRS creditable earnings for the prior years of employment respectively.