RETIREMENT AND TERMINAL PAY. 20.1 Terminal pay shall be granted to employees who are eligible at the time of retirement, and make application, for the Michigan School Employees Retirement Fund benefits. Such pay shall be 1/3 of accumulated sick days times the teacher's current daily rate of pay. In addition, those employees that provide the district with written notice of retirement by no later than April 1 shall receive an additional incentive payment of $1,000.
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RETIREMENT AND TERMINAL PAY. 20.1 18.1 Terminal pay shall be granted to employees who are eligible at the time of retirement, and make application, for the Michigan School Employees Retirement Fund benefits. Such pay shall be 1/3 one-third (1/3) of accumulated sick days times multiplied by the teacher's current daily rate of pay. In addition, those employees that provide the district with written notice of retirement by no later than April 1 shall receive an additional incentive payment of $1,000.
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RETIREMENT AND TERMINAL PAY. 20.1 18.1 Terminal pay shall be granted to employees who are eligible at the time of retirement, and make application, for the Michigan School Employees Retirement Fund benefits. Such pay shall be 1/3 one-third (1/3) of accumulated sick days times hours multiplied by the teacher's current daily hourly rate of pay. In addition, those employees that provide the district with written notice of retirement by no later than April 1 shall receive an additional incentive payment of $1,000.
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Samples: Agreement
