Four Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to May 1 four (4) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final four (4) years of employment the employee’s TRS creditable earnings shall be increased by six percent (6%) over the employee’s TRS creditable earnings for the prior years of employment respectively.
Four Year Plan. If an eligible Teacher gives the Board an irrevocable letter of retirement prior to May 1 four (4) years prior to the year of retirement, the Teacher will be removed from the salary schedule and for the final four years of employment the Teacher’s nonexempt TRS creditable earnings shall be increased by six percent (6%) over the Teacher nonexempt TRS creditable earnings for the prior years of employment respectively.
Four Year Plan. If an eligible teacher gives the Board an irrevocable letter of retirement prior to August 31 four (4) years prior to the year of retirement, the teacher will be removed from the salary schedule and for the final four (4) years of employment the teacher’s nonexempt TRS creditable earnings shall be increased by six percent (6%) over the teacher’s nonexempt TRS creditable earnings for the prior years of employment respectively. Example: A teacher will retire on June 30, 2021. The teacher’s nonexempt TRS creditable earnings for the 2016-2017 school year were $100,000. The teacher’s nonexempt TRS creditable earnings for the 2017- 2018 school year will be $106,000 (i.e., $100,000 x 1.06 = $106,000). The teacher’s nonexempt TRS creditable earnings for the 2018-2019 school year will be $112,360 (i.e. $106,000 x 1.06 = $112,360). The teacher’s nonexempt TRS creditable earnings for the 2019-2020 school year will be $119,101.60 (i.e., $112,360 x 1.06 = 119,101.60). The teacher’s nonexempt TRS creditable earnings for the 2020-2021 school year will be $126,247.70 (i.e., $119,101.60 x 1.06 = $126,247.70). Any teacher may revoke his/her election to retire only in the case of death or total disability of a member of the immediate family. All monies paid as a bonus will be repaid through equal monthly installments.
Four Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to May 1, four (4) years prior to the year of retirement, the employee will be removed from the salary schedule and for the final four (4) years of employment the employee’s TRS creditable earnings shall be increased by five and seventy five hundredths percent (5.75%) over the employee’s TRS creditable earnings for the prior years of employment respectively. In order to be eligible for this retirement incentive, employees must be employed by the District for the eighteen (18) consecutive years that precede the retirement date. In addition, if a letter of retirement is received by May 1 prior to the final four years, and the employee has accumulated seventy-five (75) sick leave days, the employee’s accumulated sick leave will immediately be increased to a total of 340 days of accumulated sick leave.
Four Year Plan. If an eligible ESP gives the Board an irrevocable letter of retirement prior to December 1 stating that he/she shall retire at the end of the fourth year after the current school year, the ESP will be removed from the wage schedule and for the final four (4) years of employment the ESP’s hourly wage shall be increased by six percent (6%) on the base plus six percent (6%) on any and all overtime, differentials, stipends, committee assignments or bonuses actually worked not to exceed a 6% increase of the previous year. Wage Example: An ESP will retire on June 30, xxx5. The ESP’s hourly rate for the xxx0-xxx1 school year was $12.00 per hour. The ESP’s hourly rate for the xxx1-xxx2 school year will be $12.72 per hour (i.e. $12.00 X 1.06 = $12.72). The ESP’s hourly rate for the xxx2-xxx3 school year will be $13.48 (i.e. $12.72 X 1.06 = $13.48). The ESP’s hourly rate for the xxx3-xxx4 school year will be $14.29 per hour (i.e. $13.48 X 1.06 =14.29 per hour). The ESP’s hourly rate for the xxx4-xxx5 school year will be $15.15 per hour (i.e. $14.29 X 1.06 = $15.15).
Four Year Plan. If an eligible teacher gives the Board an irrevocable letter of retirement prior to December 1 stating that he/she shall retire at the end of the fourth year after the current school year, the teacher will be removed from the salary schedule and for the final four
Four Year Plan. If an eligible employee gives the School Board an irrevocable letter of intent to retire prior to the April School Board Meeting, three (3) years prior to the intended year of retirement, the employee will be placed on an alternative schedule for the final four (4) years of employment. The employee’s TRS creditable earnings shall be increased by six (6) percent over the employee’s TRS creditable earnings for the prior years of employment respectively.
Four Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to the last day of school four (4) years prior to the year of retirement, the employee will be removed from the salary schedule; and for the final four (4) years of employment, the employee’s base salary shall be increased by six percent (6%) over the employee’s base salary for the prior years of employment respectively.
Four Year Plan. If an eligible employee gives the Board an irrevocable letter of retirement prior to March 1 four
Four Year Plan. If an eligible teacher gives the Board an irrevocable letter of retirement no later than May 1st of the year prior to his/her final four (4) years, stating that he/she shall retire at the end of his/her final corresponding school year, the teacher will be removed from the salary schedule and for the final four (4) years of employment the teacher’s TRS creditable earnings shall be increased by five percent (5%) over the teacher’s previous year’s TRS creditable earnings. Example: The teacher timely submits an irrevocable letter to retire on June 30, 2023. The teacher’s 2018-2019 TRS creditable earnings were $40,000.00. The teacher’s TRS creditable earnings for 2019-20 will be $42,000.00 (i.e., $40,000.00 x 1.05 = $42,000.00). The teacher’s 2020-2021 TRS creditable earnings will be $44,100.00 (i.e., $42,000.00 x 1.05 = $44,100.00). The teacher’s 2021-2022 TRS creditable earnings will be $46,305.00 (i.e., $44,100.00 x 1.05 = $46,305.00). The teacher’s 2022-2023 TRS creditable earnings will be $48,620.25 (i.e., $46,305.00 x 1.05 = $48,620.25).
