Four Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to May 1, four (4) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final four (4) years of employment the employee’s TRS creditable earnings shall be increased by three percent (3%) over the employee’s TRS creditable earnings for the prior years of employment respectively. In order to be eligible for this retirement incentive, employees must be employed by the District for the eighteen (18) consecutive years that precede the retirement date. In addition, if a letter of retirement is received by May 1 prior to the final four years, the employee’s accumulated sick leave will immediately be increased to a total of 320 days of accumulated sick leave.
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Four Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to May 1, four (4) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final four (4) years of employment the employee’s TRS creditable earnings shall be increased by three five and seventy five hundredths percent (35.75%) over the employee’s TRS creditable earnings for the prior years of employment respectively. In order to be eligible for this retirement incentive, employees must be employed by the District for the eighteen (18) consecutive years that precede the retirement date. In addition, if a letter of retirement is received by May 1 prior to the final four years, and the employee has accumulated seventy-five (75) sick leave days, the employee’s accumulated sick leave will immediately be increased to a total of 320 340 days of accumulated sick leave.
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