Retirement Notice Stipend Sample Clauses

Retirement Notice Stipend. A one thousand dollar gross payment will be issued to retiring teachers under the following conditions all in the same calendar year:
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Retirement Notice Stipend. The first fifteen (15) effective or highly effective teachers who submit a retirement letter will receive a stipend as described in the following: teachers who submit the letter between January 1 and February 1 with a retirement date between the end of that school year and the commencement of the following school year will receive a $3,000 stipend; teachers who submit such a letter between February 2 and April 1 of that school year will receive a $1500 stipend; and teachers who submit such a letter between April 2 and June 30 of that school year will receive a $1000 stipend. Payment will be made in a lump sum to be distributed in the teacher’s last paycheck.
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Retirement Notice Stipend. An employee who is age eligible to retire and who provides the District Personnel Office with notice of retirement by January 5th shall be paid $6,000 at the time of retirement, payable at the time of separation. An employee must be eligible to retire under the terms of the New York State Teachers’ Retirement System (NYSTRS) or New York State Employees Retirement System (NYSERS) and actually retire to qualify for this stipend. In order to otherwise be eligible to receive the retirement stipends, any active employee must complete the school year and must retire no later than July 1st. Payment for the retirement notice will be made between July 9 and July 30 of the applicable year. Payments shall be made in accordance with Article 5.1.7.
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Related to Retirement Notice Stipend

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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