Common use of Payment Restrictions Clause in Contracts

Payment Restrictions. These benefit amounts shall be paid post retiremenT on the first payday of September following retirement and shall not be considered part of the final year's salary and therefore shall not be considered credible earnings. Military service credit will be allowed for retirement in accordance with IMRF’s past service credit purchase option. The retirement bonus will not be paid for years of credit based on military service.

Payment Restrictions. These benefit amounts shall be paid post retiremenT on the first payday retirement (after last day of September following retirement service or last paycheck, whichever is later) and shall not be considered part of the final year's ’s salary and therefore shall not be considered credible creditable earnings. Military service credit will be allowed for retirement in accordance with IMRF’s past service credit purchase option. The retirement bonus will not be paid for years of credit based on military service.