Retirement Severance Benefits. Retirement is defined as termination of services in the School District and withdrawal from active teaching service. Eligible retired teachers in this Article will have completed at least twenty (20) years of service in the School District, are at least fifty-five (55) years of age as of June 30 in the school year in which application for retirement is made, and submit a written resignation accepted by the School District. To assist with District staffing and planning needs, teachers shall provide a non-binding notification of their decision to retire to the Executive Director of Human Resources by March 1 of the year of retirement. Retirement pay shall not be granted to any teacher who has been discharged or terminated pursuant to MS122A.40.
Retirement Severance Benefits. An individual who is employed as a bargaining unit member at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below.
Retirement Severance Benefits. A teacher who has at least fifteen (15) years of teaching service in the White River Valley School Corporation or its predecessor corporations, as recognized by the Indiana State Teachers' Retirement Fund Board (ISTRF), and who is employed as a bargaining unit member at the time of retirement or severance from employment will be eligible for the following severance benefits provided the teacher has otherwise satisfied the requirements and conditions described below.
Retirement Severance Benefits. The following amendments made to the Agreement between the Northwest Xxxxx County Schools Board of School Trustees and the Northwest Xxxxx County Education Association (the “Association”), adopted by the School Board August 18, 2003, (the “Agreement”) shall be effective with respect to any teacher retiring on or after July 1, 2003 (the “Effective Date”). Except as otherwise specifically provided herein, any teacher who has retired before the Effective Date will only be entitled to those benefits contained in the Agreement which was in existence as of the time of her/his retirement, except as may be otherwise revised by a future bargained agreement.
Retirement Severance Benefits. 9 Section 1: Revision of Prior Agreement’s Retirement Severance Compensation 9 Section 2: Basic Conditions 9 Section 3: Accumulated Sick Leave Benefit 10 Section 4: Qualified Retirement Plan 10 Section 5: Current and Future Adjustments 12 Article V – Group Insurance 13 Section 1: Health Insurance 13 Section 2: Long-Term Disability Insurance 13 Section 3: Term Life Insurance 13 Section 4: Insurance Coverage during Leave of Absence 13 Table of Contents (continued) Article VI – Compensation and Related Matters 14 Section 1: Teacher Base Salary 14 Section 2: Extra-Curricular Salary Schedule 15 Section 3: Performance-Based Salary Compensation Program 15 Section 4: Use of Personal Vehicle 17 Section 5: Individual Curriculum Development and Studies 17 Section 6: Indiana State Teacher Retirement Fund Contributions 17 Article VII – Terms of Agreement 18 Appendix A: Extra-Curricular Salary Schedule 19 Appendix B: Performance-based Compensation Awards Distribution Amounts 22 Section 1: RECOGNITION
Retirement Severance Benefits. 2.1 In consideration of the Severance Benefits (as defined below) provided under this Agreement, Employee agrees to Retire (as defined below), as of the Retirement Date. For purposes of this Agreement, the term “
Retirement Severance Benefits. 27 SECTION 1 27 SECTION 2 28 SECTION 3 28 SECTION 4 28 SECTION 5 28 SECTION 6 28 SECTION 7 28 Section 8 - Wellness Incentive Accumulation and Limitations 28 SECTION 9 29 SECTION 10 29 Section 11 - Matching Plan 30 ARTICLE XIII DISCRIMINATION POLICY 31 Section 1 - General Explanation 31 ARTICLE XIV 31 DISTRICT INSURANCE COMMITTEE 31 Section 1 - Composition of Committee 31 Section 2 - Function of Committee 31 Section 3 - Committee Recommendations 31 ARTICLE XV
Retirement Severance Benefits. Section 1 27 Section 2 28 Section 3 28 Section 4 28 Section 5 28 Section 6 28 Section 7 29 Section 8 Wellness Incentive Accumulation and Limitations 29 Section 9 29 Section 10 30 Section 11 Matching Plan 30 ARTICLE XIII - DISCRIMINATION POLICY Section 1 General Explanation 32
Retirement Severance Benefits. A. ONGOING 401(a) PLAN. Note: ONLY for teachers hired and beginning service on or after January 1, 2006 APPENDIX A – COMPENSATION MODEL Pay effective the first day of the school calendar. There will be an increase in compensation in 2020 - 2021. The minimum salary will be $32,275 and the maximum salary will be $54,161. Each Bargaining Unit Member will receive an $275 increase to their base salary (less than FTE increases will be in proportion to the individual contract). A one time Stipend of $1500 will be given to Bargaining Unit Members in the 2020 – 2021 school year. Retroactivity shall be paid by December 2020. Factors
Retirement Severance Benefits
