Retirement Benefit (Support Staff and Custodians Sample Clauses

Retirement Benefit (Support Staff and Custodians. Upon meeting the IMRF requirements for retirement, the support staff member or custodian shall receive a sum equivalent to forty-five dollars ($45.00) per day of sick leave not turned into IMRF or used. To qualify for this payment, the employee must have at least ten (10) years of service to District 122. Payment for unused sick days will occur on the first payroll 60 days after the support staff member or custodian retires. Upon meeting the IMRF requirements for retirement, the support staff member or custodian that provides a fifteen-month notice shall receive a 6% increase over their previous hourly rate. To qualify for this hourly rate increase, the employee must have at least fifteen (15) years of service to District 122. To qualify for the Retirement Benefits in this Section, the support staff member or custodian must notify the Superintendent of their intent to retire in writing fifteen months prior to retirement.
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Related to Retirement Benefit (Support Staff and Custodians

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