Common use of Post-retirement contract Clause in Contracts

Post-retirement contract. 18.2.1 After ten (10) years of full time satisfactory service in the County Office and attaining the age of fifty-five (55), but not yet reaching age sixty-five (65), a unit member would become eligible for the Early Retirement/Post Retirement Contract. 18.2.2 Certificated individuals must apply for this program by February 15th of the year they wish to retire and must retire on July 1 of the same year. 18.2.3 Upon approval by the Superintendent, persons opting for this program would retire and be employed (in addition to their retirement benefits) as an independent contractor of this County Office under conditions listed below. 18.2.4 Once electing to participate in the program, a unit member may not request to return to regular employment in the County Office. Also, once a unit member has entered the program, he/she may not change options or re-enter the service of the County Office. 18.2.5 The maximum period for which this agreement shall remain in force is ten (10) years or until age sixty-five (65), whichever comes first and subject to the following conditions: 18.2.5.1 The County Office shall pay for the retiree and his/her spouse's premium in the County Office's medical insurance plan at the same rate provided to active unit members until retiree reaches age sixty-five (65), or until the retiree and his spouse are covered by other medical insurance plans provided by any other source. This one aspect of the Early Retirement Incentive Program (medical insurance) is a legal commitment from the County Office and is subject to termination only at the request of the retiree, death of the retiree, or as mentioned above, other medical insurance provided by any other source. 18.2.5.2 Between the ages of fifty-five (55) and sixty-five (65) only, subject to renewal each July 1st at the option of the retiree, the retiree may be employed as an independent contractor subject to the following two (2) conditions: 18.2.5.2.1 Employment of twenty (20) days per year, subject to annual renewal. 18.2.5.2.2 A salary at least equivalent to twenty (20) days' pay at the daily rate of the salary schedule and step at which the retiree was placed when he/she retired. The salary will be paid each year at the same daily rate earned by active unit members in the same position. Salary shall not exceed the STRS maximum amount. Salary may be paid in twelve (12) equal payments or in one (1) payment at the option of the retiree.

Post-retirement contract. 18.2.1 After ten (10) years of full time satisfactory service in the County Office and attaining the age of fifty-five (55), but not yet reaching age sixty-five (65), a unit member would become eligible for the Early Retirement/Post Retirement Contract. 18.2.2 Certificated individuals must apply for this program by February 15th of the year they wish to retire and must retire on July 1 of the same year. 18.2.3 Upon approval by the Superintendent, persons opting for this program would retire and be employed (in addition to their retirement benefits) as an independent contractor of this County Office under conditions listed below. 18.2.4 Once electing to participate in the program, a unit member may not request to return to regular employment in the County Office. Also, once a unit member has entered the program, he/she they may not change options or re-enter the service of the County Office. 18.2.5 The maximum period for which this agreement shall remain in force is ten (10) years or until age sixty-five (65), whichever comes first and subject to the following conditions: 18.2.5.1 The County Office shall pay for the retiree and his/her their spouse's premium in the County Office's medical insurance plan at the same rate provided to active unit members until retiree reaches age sixty-five (65), or until the retiree and his spouse are covered by other medical insurance plans provided by any other source. This one aspect of the Early Retirement Incentive Program (medical insurance) is a legal commitment from the County Office and is subject to termination only at the request of the retiree, death of the retiree, or as mentioned above, other medical insurance provided by any other source. 18.2.5.2 Between the ages of fifty-five (55) and sixty-five (65) only, subject to renewal each July 1st at the option of the retiree, the retiree may be employed as an independent contractor subject to the following two (2) conditions: 18.2.5.2.1 Employment of twenty (20) days per year, subject to annual renewal. 18.2.5.2.2 A salary at least equivalent to twenty (20) days' pay at the daily rate of the salary schedule and step at which the retiree was placed when he/she they retired. The salary will be paid each year at the same daily rate earned by active unit members in the same position. Salary shall not exceed the STRS maximum amount. Salary may be paid in twelve (12) equal payments or in one (1) payment at the option of the retiree.