Common use of Retirement Stipend Clause in Contracts

Retirement Stipend. The parties have tentatively agreed that a one-time stipend in the sum of $1,500.00 will be paid to any bargaining unit member who gives notice of his/her intent to retire by February 1 of the year in which he/she is going to retire. To be eligible for this one-time stipend, the teacher must work at least 120 days during the final school year of the teacher’s employment. The parties understand this is a program for the 2019-2020 school year and the stipends will be paid out of cash balance.

Retirement Stipend. The parties have tentatively agreed that a one-time stipend in the sum of $1,500.00 will be paid to any bargaining unit member who gives notice of his/her intent to retire by February 1 of the year in which he/she is going to retire. To be eligible for this one-time stipend, the teacher must work at least 120 days during the final school year of the teacher’s employment. The parties understand this is a program for the 20192018-2020 2019 school year and the stipends will be paid out of cash balance.