Recognition of Service. In special recognition of longevity and extraordinary services provided to the Matanuska Susitna Borough School District by selected employees, there is hereby established a Retirement Incentive Program. The salary increase which this program provides are for services rendered and shall apply only to employees who are eligible to retire and who notify the Human Resources Department of their intention to retire at least 90 days before their retirement date. The increase shall be paid in one lump sum in the final paycheck. The employee will have his original salary amount amended to reflect an increase of $150 per year of district service. It is understood that the amount of the incentive will not be included in the PERS retirement calculation.
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Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
