Common use of Benefit Schedule Clause in Contracts

Benefit Schedule. a. When a bargaining unit member declares retirement as specified above, he/she will receive a one-time stipend of 10% of the final base salary the month following the retirement date. An amount equal to the final base salary will be paid in equal monthly payments over the four-year period beginning the month following the retirement date (48 monthly payments).

Benefit Schedule. a. When a bargaining unit member declares is approved for participation in the retirement incentive program as specified above, he/she the employee will receive a one-time stipend of 10% of the final base salary the month following the retirement date. An amount equal to the final base salary will be paid in equal monthly payments over the four-year period beginning the month following the retirement date (48 monthly payments).

Benefit Schedule. a. When a bargaining unit member declares retirement as specified above, he/she will receive a one-one- time stipend of 10% of the final base salary the month following the retirement date. An amount equal to the final base salary will be paid in equal monthly payments over the four-year period beginning the month following the retirement date (48 monthly payments).