Common use of Retirement Stipend Clause in Contracts

Retirement Stipend. In recognition of long years of service to the District, the District agrees to pay a retirement stipend to employees who retire or resign after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive a sum $190.87 multiplied by the employee’s number of pro-rata years of service in the Kalamazoo system. In recognition of daily attendance in the classroom, the District agrees to pay a supplementary stipend for unused accumulated sick days to employees who retire after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive the sum of nine hundred dollars ($900), in addition to the above stipend, if s/he has at least one hundred twenty (120) unused accumulated sick days.

Retirement Stipend. In recognition of long years of service to the District, the District agrees to pay a retirement stipend to employees who retire or resign after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive a sum $190.87 equal to one–half (½) of one (1) percent of the then current BA base salary multiplied by the employee’s number of pro-rata years of service in the Kalamazoo system. In recognition of daily attendance in the classroom, the District agrees to pay a supplementary stipend for unused accumulated sick days to employees who retire after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive the sum of nine hundred dollars ($900), in addition to the above stipend, if s/he has at least one hundred twenty (120) unused accumulated sick days.

Retirement Stipend. ‌ In recognition of long years of service to the District, the District agrees to pay a retirement stipend to employees who retire or resign after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive a sum $190.87 multiplied by the employee’s number of pro-rata years of service in the Kalamazoo system. In recognition of daily attendance in the classroom, the District agrees to pay a supplementary stipend for unused accumulated sick days to employees who retire after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive the sum of nine hundred dollars ($900), in addition to the above stipend, if s/he has at least one hundred twenty (120) unused accumulated sick days.

Retirement Stipend. ‌ In recognition of long years of service to the District, the District agrees to pay a retirement stipend to employees who retire or resign after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive a sum $190.87 equal to one–half (½) of one (1) percent of the then current BA base salary multiplied by the employee’s number of pro-rata years of service in the Kalamazoo system. In recognition of daily attendance in the classroom, the District agrees to pay a supplementary stipend for unused accumulated sick days to employees who retire after having completed fifteen (15) full years of service. Upon retirement from service, the employee shall receive the sum of nine hundred dollars ($900), in addition to the above stipend, if s/he has at least one hundred twenty (120) unused accumulated sick days.