Common use of Early Retirement Program Clause in Contracts

Early Retirement Program. The Program shall be open to all employees who have been employed by the City Colleges of Chicago for ten (10) years on a full-time basis. 1. Applications for participation in the Program shall be submitted in writing to the appropriate College President or designee no later than March 15 if the retirement is effective at the end of the Spring Semester or Summer term of that year, and no later than October 15 if the retirement is effective at the end of the Fall Semester of that year. Where an early retirement request may have been submitted after the deadline date, the Chancellor shall nevertheless have the authority to grant said early retirement. 2. With the exception of term life insurance, the Board shall provide the early retiree with the same individual insurance coverage available to employees under this Agreement for a period of ten years after retirement, provided that health insurance coverage(s) shall be reduced to the extent that medicare or comparable benefits are otherwise available to the early retiree. The cost of this benefit to the early retiree shall be as specified in Appendix D of this agreement. For all retirees and their dependents who are Medicare eligible, claims will be processed according to the terms of the elected health plan. The plan pays secondary to Medicare. All retirees and their dependents who are Medicare eligible shall enroll in Medicare, as soon as they are eligible. The Board shall also provide the early retiree with the same term life insurance available to employees under this Agreement, except that there shall be a cap of $80,000. The Board shall make the same premium payments therefore, for a period of six years after retirement. 3. After the benefits described above expire, the early retiree shall also have the right to purchase individual and dependent health insurance coverage through the City Colleges health insurance program at the then prevailing cost of dependent coverage for employees, and shall pay the entire premium thereof. Premium payments for dependent coverage shall be paid by the early retiree on a timely basis, in advance, to the City Colleges. 4. At the time of retirement, or upon total disability or death, an employee or the employee’s estate shall receive payments equal to 80% (eighty percent) of the unused portion of accumulated sick leave days computed at the employee’s final base rate of pay. The early retiree shall receive these payments in five equal installments. The first installment shall be within 60 days of the retirement date, death or total disablement. The second, third, fourth, and fifth installments shall be on the first, second, third, and fourth anniversaries of the retirement date, death or total disablement. Employees may, at their option, use any portion of their accumulated sick leave days to purchase service credits pursuant to Section 15-113.4 of Article 15 of the Illinois Pension Code. If the employee chooses to withhold a number of days for this purpose, they will not be counted towards the payment referred to in the first sentence of this paragraph. Employees are warned that it is usually not to their benefit to exercise this option except when purchasing a few days of service credit from sick leave days accrued in order to purchase an extra quarter of service. 5. There will be no cash payout for sick leave days after July 1, 2014. In addition, sick leave days cannot be used for any type of retirement enhancement, as described in the previous paragraph, if the costs of any such retirement enhancement are shifted to or become the responsibility of the Board. 6. In the event of the death of the early retiree, the City Colleges will continue payments to the employee’s estate for the balance of the four years. 7. In the event of the death of the early retiree, the City Colleges will continue insurance coverage for the early retiree’s spouse and/or dependents for three (3) months following the month in which the death occurred. Thereafter the spouse and/or dependents shall be eligible for continued dependent coverage on the same basis as a current employee except that the spouse or dependents shall pay the entire premium. 8. Portions of this agreement notwithstanding, an employee who elects to participate in the Program prescribed by House ▇▇▇▇ 289 of 1981 as legally enacted shall be eligible to participate in the Program provided herein. 9. The Board and the Union agree to establish regular annual meetings to be held in June of each year remaining in the collective bargaining agreement to identify issues and exchange information related to retirements, costs, legislation, and other pertinent material.

Early Retirement Program. The Program shall be open to all employees who A. All unit members are eligible for the Whittier City School District Early Retirement Plan at age 50 or over if they have been employed by the City Colleges of Chicago for at least ten (10) years on a of full-time basisservice in the District. 1. Applications A contract with the individual opting for participation in the Program early retirement program shall be submitted in writing for a period not to exceed seven years or to age sixty-seven, whichever comes first. The unit member must apply for Medicare when eligible and not continue on the appropriate College President or designee no later than March 15 if District-paid insurance coverage. The contract period shall not extend beyond the retirement is effective at sixty-seventh birthday, except when said birth date occurs within the end of the Spring Semester or Summer term of that year, and no later than October 15 if the retirement is effective at the end of the Fall Semester of that year. Where an early retirement request may have been submitted after the deadline date, the Chancellor shall nevertheless have the authority to grant said early retirementperiod from September 1 through June 30. 2. With the exception of term life insuranceThe retiree, the Board shall provide the early retiree with the same individual insurance coverage available to employees under this Agreement for a period of ten years after retirementcontract, provided that health insurance coverage(sshall serve twenty (20) shall be reduced to days per year at activities mutually agreed upon by the extent that medicare or comparable benefits are otherwise available to employee and the early retireeSchool District. The cost For purposes of this benefit to the early Article, whenever a retiree renders service, he or she shall be as specified in Appendix D work a seven and one-half (7 1/2) hour day inclusive of this agreement. For all retirees and their dependents who are Medicare eligible, claims will be processed according to the terms of the elected health plan. The plan pays secondary to Medicare. All retirees and their dependents who are Medicare eligible shall enroll in Medicare, as soon as they are eligible. The Board shall also provide the early retiree with the same term life insurance available to employees under this Agreement, except that there shall be a cap of $80,000. The Board shall make the same premium payments therefore, for a period of six years after retirementhalf-hour lunch. 3. After the benefits described above expire, the early retiree shall also have the right Services to purchase individual and dependent health insurance coverage through the City Colleges health insurance program at the then prevailing cost of dependent coverage for employees, and shall pay the entire premium thereof. Premium payments for dependent coverage shall be paid provided by the early retiree under contract will vary with the individual, but may include: a. Demonstration teaching b. Working on a timely basis, staff development and inservice programs c. Assisting with the testing program d. Compiling test data as it relates to reading and mathematics profiles e. Orienting and providing aid to new teachers f. Updating curriculum guides and other learning materials g. Serving as teacher assistants h. Observation and evaluation of programs i. Assisting in advance, to the City Collegesparent education programs j. Other activities mutually agreed upon. 4. At In the time of retirement, or upon total disability or death, an employee or event the employee’s estate shall receive payments equal retiree is unable to 80% serve the required twenty (eighty percent20) days during any fiscal year of the unused portion of accumulated sick leave days computed at contract, the employee’s final base rate of pay. The early retiree shall receive these payments in five equal installments. The first installment compensation for that year shall be within 60 days of an amount that bears the same ratio to the established annual early retirement date, death or total disablement. The second, third, fourth, and fifth installments shall be on income as the first, second, third, and fourth anniversaries of the retirement date, death or total disablement. Employees may, at their option, use any portion of their accumulated sick leave days to purchase service credits pursuant to Section 15-113.4 of Article 15 of the Illinois Pension Code. If the employee chooses to withhold a number of days served bears to twenty (20). If a retiree is given an assignment for this purposethe day that will take less than 7 1/2 hours, they will not be counted towards the payment referred to in assignment shall still count as a full day for purposes of satisfying the first sentence of this paragraph. Employees are warned that it is usually not to their benefit to exercise this option except when purchasing a few days of service credit from sick leave days accrued in order to purchase an extra quarter of serviceemployee's contractual commitment. 5. There Persons opting for this program shall be allowed to maintain the health insurance programs of the District. Early retirees entering this early retirement program shall be eligible to receive fringe benefits during their participation in the program (employee only coverage). Retirees will be no cash payout allowed to purchase coverage for sick leave days after July 1, 2014. In addition, sick leave days cannot be used his/her eligible family members and must remit an amount equal to the annual premium for any type dependent coverage at the time of retirement enhancement, as described in the previous paragraph, if the costs of any such retirement enhancement are shifted to or become the responsibility of the Boardenrollment and/or renewal. 6. In the event Letters of the death of the early retiree, the City Colleges will continue payments to the employee’s estate application for the balance of Early Retirement Incentive Plan shall be filed with the four yearsSuperintendent no later than April 1 in order to be considered for the following school year. 7. In the event of the death of the early retiree, the City Colleges will continue insurance coverage The annual compensation shall be $4,000 for the early retiree’s spouse and/or dependents first twenty (20) days of service ($200 per diem). Early retirees have an option of earning $1,500 for three (3) months following the month in which the death occurred. Thereafter the spouse and/or dependents shall be eligible for continued dependent coverage on the same basis 7.5 additional days as a current employee except that the spouse or dependents shall pay the entire premiumpreferred substitute teacher ($200 per diem); total possible compensation is $5,500. 8. Portions of this agreement notwithstanding, an employee who elects to participate in the Program prescribed by House ▇▇▇▇ 289 of 1981 as legally enacted shall be eligible to participate in the Program provided herein. 9. The Board and the Union agree to establish regular annual meetings to be held in June of each year remaining in the collective bargaining agreement to identify issues and exchange information related to retirements, costs, legislation, and other pertinent material.

Early Retirement Program. The Program shall be open to all employees faculty members who have been employed by the City Colleges of Chicago for ten (10) years on a full-time basis. 1. This program shall be effective July 15, 1989. Benefits under this program are provided without regard to age for faculty members who retire from the City Colleges of Chicago. 2. Applications for participation in the Program shall be submitted in writing to the appropriate College President or his/her designee no later than March 15 if the retirement is effective at the end of the Spring Semester or Summer term of that year, and no later than October 15 if the retirement is effective at the end of the Fall Semester of that year. Where an early retirement request may have been submitted after the deadline date, the Chancellor shall nevertheless have the authority to grant ▇▇▇▇▇ said early retirement. 23. With the exception of term life insurance, the Board shall provide the early retiree with the same individual insurance coverage available to employees faculty members under this Agreement for a period of ten years after retirement, provided that health insurance coverage(s) shall be reduced to the extent that medicare Medicare or comparable benefits are otherwise available to the early retiree. The cost of this benefit to the early retiree shall be as specified in Appendix D of this agreement. For all retirees and their dependents who are Medicare eligible, claims will be processed according to the terms of the elected health plan. The plan pays secondary to Medicare. All retirees and their dependents who are Medicare eligible shall enroll in Medicare, as soon as they are eligible. The Board shall also provide the early retiree with the same term life insurance available to employees faculty members under this Agreement, except that there shall be a cap of $80,000. The Board , and it shall make the same premium payments therefore, for a period of six years after retirement. 34. After the benefits described above expire, the The early retiree shall also have the right to purchase individual and dependent health insurance coverage through the City Colleges health insurance program at the then prevailing cost of dependent coverage for employeesfull-time faculty members, and shall pay the entire premium thereof. Premium payments for dependent coverage shall be paid by the early retiree on a timely basis, in advance, to the City Colleges. 45. At the time of retirement, or upon total disability or death, an employee faculty members or the employee’s estate their estates shall receive payments equal to 80% (eighty percent) of the unused portion of their accumulated sick leave days computed at the employee’s their final base rate of pay. It is provided further that a faculty member hired after July 15, 2000, shall only receive payments of the unused portion of accumulated sick leave up to a maximum of 100 sick leave days. The early retiree shall receive these payments in five equal installments. The first installment shall be within 60 days of the retirement date, death or total disablement. The second, third, fourth, and fifth installments shall be on the first, second, third, and fourth anniversaries of the retirement date, death or total disablement. Employees The faculty member may, at their option, use any portion of their accumulated sick leave days to purchase service credits pursuant to Section 15-113.4 of Article 15 of the Illinois Pension Code. If the employee faculty member chooses to withhold a number of days for this purpose, they will not be counted towards the payment referred to in the first sentence of this paragraph. Employees Faculty members are warned that it is usually not to their benefit to exercise this option except when purchasing a few days of service credit from sick leave days accrued in order to purchase an extra quarter of service. 5. There will be no cash payout for sick leave days after July 1, 2014. In addition, sick leave days cannot be used for any type of retirement enhancement, as described in the previous paragraph, if the costs of any such retirement enhancement are shifted to or become the responsibility of the Board. 6. In the event of the death of the early retiree, the City Colleges will continue payments to the employeefaculty member’s estate for the balance of the four years. 7. The Board may allow the early retiree the opportunity to teach two classes per semester, if available, on the basis of the overtime rate for the early retiree’s lane and step at the time of retirement. 8. In the event of the death of the early retiree, the City Colleges will continue insurance coverage for the early retiree’s spouse and/or dependents for three (3) months following the month in which the death occurred. Thereafter the spouse and/or dependents shall be eligible for continued dependent coverage on the same basis as a current employee faculty member except that the spouse or dependents shall pay the entire premium. 89. Portions of this agreement notwithstanding, an employee a faculty member who elects to participate in the Program prescribed by House ▇▇▇▇ Bill 289 of 1981 as legally enacted shall be eligible to participate in the Program provided herein. 910. The Board and the Union agree to establish regular annual meetings to be held in June of each year remaining in the collective bargaining agreement to identify issues and exchange information related to retirements, costs, legislation, and other pertinent material.

Early Retirement Program. The Program shall be open to all employees faculty members who have been employed by the City Colleges of Chicago for ten (10) years on a full-time basis. 1. This program shall be effective July 15, 1989. Benefits under this program are provided without regard to age for faculty members who retire from the City Colleges of Chicago. 2. Applications for participation in the Program shall be submitted in writing to the appropriate College President or his/her designee no later than March 15 if the retirement is effective at the end of the Spring Semester or Summer term of that year, and no later than October 15 if the retirement is effective at the end of the Fall Semester of that year. Where an early retirement request may have been submitted after the deadline date, the Chancellor shall nevertheless have the authority to grant said early retirement. 23. With the exception of term life insurance, the Board shall provide the early retiree with the same individual insurance coverage available to employees faculty members under this Agreement for a period of ten years after retirement, provided that health insurance coverage(s) shall be reduced to the extent that medicare Medicare or comparable benefits are otherwise available to the early retiree. The cost of this benefit to the early retiree shall be as specified in Appendix D of this agreement. For all retirees and their dependents who are Medicare eligible, claims will be processed according to the terms of the elected health plan. The plan pays plans pay secondary to MedicareMedicare if the retiree or dependent is eligible for Medicare without regard to whether the retiree or dependent has actually enrolled. All retirees and their dependents who are Medicare eligible shall enroll in Medicare, as soon as they are eligible. The Board shall also provide the early retiree with the same term life insurance available to employees faculty members under this Agreement, except that there shall be a cap of $80,000. The Board , and it shall make the same premium payments therefore, for a period of six years after retirement. 34. After the benefits described above expire, the The early retiree shall also have the right to purchase individual and dependent health insurance coverage through the City Colleges health insurance program at the then prevailing cost of dependent coverage for employeesfull-time faculty members, and shall pay the entire premium thereof. Premium payments for dependent coverage shall be paid by the early retiree on a timely basis, in advance, to the City Colleges. 45. At the time of retirement, or upon total disability or death, an employee faculty members or the employee’s estate their estates shall receive payments equal to 80% (eighty percent) of the unused portion of their accumulated sick leave days computed at the employee’s their final base rate of pay. It is provided further that a faculty member hired after July 15, 2000, shall only receive payments of the unused portion of accumulated sick leave up to a maximum of 100 sick leave days. The early retiree shall receive these payments in five equal installments. The first installment shall be within 60 days of the retirement date, death or total disablement. The second, third, fourth, and fifth installments shall be on the first, second, third, and fourth anniversaries of the retirement date, death or total disablement. Employees The faculty member may, at their option, use any portion of their accumulated sick leave days to purchase service credits pursuant to Section 15-113.4 of Article 15 of the Illinois Pension Code. If the employee faculty member chooses to withhold a number of days for this purpose, they will not be counted towards the payment referred to in the first sentence of this paragraph. Employees Faculty members are warned that it is usually not to their benefit to exercise this option except when purchasing a few days of service credit from sick leave days accrued in order to purchase an extra quarter of service. 5. There will be no cash payout for sick leave days after July 1, 2014. In addition, sick leave days cannot be used for any type of retirement enhancement, as described in the previous paragraph, if the costs of any such retirement enhancement are shifted to or become the responsibility of the Board. 6. In the event of the death of the early retiree, the City Colleges will continue payments to the employeefaculty member’s estate for the balance of the four years. 7. The Board may allow the early retiree the opportunity to teach two classes per semester, if available, on the basis of the overtime rate for the early retiree’s lane and step at the time of retirement. 8. In the event of the death of the early retiree, the City Colleges will continue insurance coverage for the early retiree’s spouse and/or dependents for three (3) months following the month in which the death occurred. Thereafter the spouse and/or dependents shall be eligible for continued dependent coverage on the same basis as a current employee faculty member except that the spouse or dependents shall pay the entire premium. 89. Portions of this agreement notwithstanding, an employee a faculty member who elects to participate in the Program prescribed by House ▇▇▇▇ 289 of 1981 as legally enacted shall be eligible to participate in the Program provided herein. 910. The Board and the Union agree to establish regular annual meetings to be held in June of each year remaining in the collective bargaining agreement to identify issues and exchange information related to retirements, costs, legislation, and other pertinent material.

Early Retirement Program. The Program shall be open to all employees faculty members who have been employed by the City Colleges of Chicago for ten (10) years on a full-time basis. 1. This program shall be effective July 15, 1989. Benefits under this program are provided without regard to age for faculty members who retire from the City Colleges of Chicago. 2. Applications for participation in the Program shall be submitted in writing to the appropriate College President or his/her designee no later than March 15 if the retirement is effective at the end of the Spring Semester or Summer term of that year, and no later than October 15 if the retirement is effective at the end of the Fall Semester of that year. Where an early retirement request may have been submitted after the deadline date, the Chancellor shall nevertheless have the authority to grant said early retirement. 23. With the exception of term life insurance, the Board shall provide the early retiree with the same individual insurance coverage available to employees faculty members under this Agreement for a period of ten years after retirement, provided that health insurance coverage(s) shall be reduced to the extent that medicare Medicare or comparable benefits are otherwise available to the early retiree. The cost of this benefit to the early retiree shall be as specified in Appendix D of this agreement. For all retirees and their dependents who are Medicare eligible, claims will be processed according to the terms of the elected health plan. The plan pays plans pay secondary to MedicareMedicare if the retiree or dependent is eligible for Medicare without regard to whether the retiree or dependent has actually enrolled. All retirees and their dependents who are Medicare eligible shall enroll in Medicare, as soon as they are eligible. The Board shall also provide the early retiree with the same term life insurance available to employees faculty members under this Agreement, except that there shall be a cap of $80,000. The Board , and it shall make the same premium payments therefore, for a period of six years after retirement. 34. After the benefits described above expire, the The early retiree shall also have the right to purchase individual and dependent health insurance coverage through the City Colleges health insurance program at the then prevailing cost of dependent coverage for employees, full-time faculty members and shall pay the entire premium thereof. Premium payments for dependent coverage shall be paid by the early retiree on a timely basis, in advance, to the City Colleges. 45. At the time of retirement, or upon total disability or death, an employee faculty members or the employee’s estate their estates shall receive payments equal to 80% (eighty percent) of the unused portion of their accumulated sick leave days computed at the employee’s their final base rate of pay. It is provided further that a faculty member hired after July 15, 2000, shall only receive payments of the unused portion of accumulated sick leave up to a maximum of 100 sick leave days. The early retiree shall receive these payments in five equal installments. The first installment shall be within 60 days of the retirement date, death or total disablement. The second, third, fourth, and fifth installments shall be on the first, second, third, and fourth anniversaries of the retirement date, death or total disablement. Employees The faculty member may, at their option, use any portion of their accumulated sick leave days to purchase service credits pursuant to Section 15-15- 113.4 of Article 15 of the Illinois Pension Code. If the employee faculty member chooses to withhold a number of days for this purpose, they will not be counted towards the payment referred to in the first sentence of this paragraph. Employees Faculty members are warned that it is usually not to their benefit to exercise this option except when purchasing a few days of service credit from sick leave days accrued in order to purchase an extra quarter of service. 5. There will be no cash payout for sick leave days after July 1, 2014. In addition, sick leave days cannot be used for any type of retirement enhancement, as described in the previous paragraph, if the costs of any such retirement enhancement are shifted to or become the responsibility of the Board. 6. In the event of the death of the early retiree, the City Colleges will continue payments to the employeefaculty member’s estate for the balance of the four years. 7. The Board may allow the early retiree the opportunity to teach two classes per semester, if available, on the basis of the overtime rate for the early retiree’s lane and step at the time of retirement. 8. In the event of the death of the early retiree, the City Colleges will continue insurance coverage for the early retiree’s spouse and/or dependents for three (3) months following the month in which the death occurred. Thereafter the spouse and/or dependents shall be eligible for continued dependent coverage on the same basis as a current employee faculty member except that the spouse or dependents shall pay the entire premium. 8. Portions of this agreement notwithstanding, an employee who elects to participate in the Program prescribed by House ▇▇▇▇ 289 of 1981 as legally enacted shall be eligible to participate in the Program provided herein. 9. The Board and the Union agree to establish regular annual meetings to be held in June of each year remaining in the collective bargaining agreement to identify issues and exchange information related to retirements, costs, legislation, and other pertinent material.