Common use of Year Plan Clause in Contracts

Year Plan. If an eligible Teacher gives his/her notice irrevocable letter of retirement prior to May 1, 2007, stating he/she will retire on June 30, 2010. The Teacher’s nonexempt TRS creditable earnings for the 2006-2007 school year were $40,000.00. The Teacher’s nonexempt TRS creditable earnings for the 2008-2009 school year will be $44,944.00 (i.e., $42,200.00 x 1.06 = $44,944.00) The Teacher’s nonexempt TRS creditable earnings for the 2009-2010 school year will be $47,640.00 (i.e., $44,944.00 x 1.06 = $47,641.00).

Year Plan. If an eligible Teacher gives his/her notice irrevocable letter of retirement prior to May 1, 2007, stating he/she will retire on June 30, 2010. The 2010The Teacher’s nonexempt TRS creditable earnings for the 2006-2007 school year were $40,000.0040,000 00. The Teacher’s nonexempt TRS creditable earnings for the 2008-2009 school year will be $44,944.00 (i.e., $42,200.00 x 1.06 = $44,944.00) The Teacher’s nonexempt TRS creditable earnings for the 2009-2010 school year will be $47,640.00 (i.e., $44,944.00 x 1.06 = $47,641.00).