Examples of Incentive Option Plan in a sentence
Teachers can elect to participate in only one of the mutually exclusive retirement plans; the Retirement Incentive Option Plan or the Early Retirement Option Plan.
Teachers who retire with ten (10) years or more experience in District 15 will be permitted to enroll in the District medical/dental benefit plan at their own cost, for a period of five (5) years following retirement, except those retiring pursuant to Article XX paragraph B (Retirement Incentive Option Plan), Letter of Agreement 1: VSOP (contained in the 2006-2009 CTC Negotiated Agreement) the premium rate for such insurance shall be equal to 100% of the active employee rate.
In consideration for the irrevocable notice of intent to retire and retirement under TRS and the contractual Retirement Incentive Option Plan, the District shall make a four (4) year cash payment (as a contribution toward TRIP or other non-District insurance) following retirement in the amount of three hundred seventy five ($375) per month for single and an additional two hundred fifty dollars ($250) per month for a Teacher’s spouse.
Teachers who retire with ten (10) years or more experience in District 15 will be permitted to enroll in the District medical/dental benefit plan at their own cost, for a period of five (5) years following retirement, except those retiring pursuant to Article XX paragraph B (Retirement Incentive Option Plan), Letter of Agreement 1: VSOP (contained in the 2006 – 2009 CTC Negotiated Agreement).
Retirees under the Retirement Incentive Option Plan shall not be eligible to remain on District insurance, except in accordance with COBRA.
These additional award term incentive option periods will be awarded by the Government based on overall contractor performance as evaluated in accordance with the contract's approved Award Term Incentive Option Plan (ATIOP).