Post Retirement Service Recognition Plan Sample Clauses

Post Retirement Service Recognition Plan. Teachers who retire pursuant to TRS, have at least 10 years of full time continuous District service, who do not cause the Board to pay a penalty, and who give written notice of retirement and a letter of resignation to the Superintendent on or before February 1st are eligible to participate in the District’s Post-Retirement Service Recognition Plan. However, a teacher will not lose his or her eligibility if the Board has to pay a penalty to TRS because of a District- mandated assignment. Teachers who meet the foregoing eligibility requirements shall receive a post-retirement service recognition payment based on the following schedule: The applicable service recognition payment shall be paid within sixty (60) days after the effective date of the teacher’s retirement. Notwithstanding the foregoing schedule based on the number of years notice, a teacher who gives such notice may nevertheless opt to retire in an earlier school year by giving written notice by February 1st of the school year which s/he will retire and receive the applicable service recognition payment for the actual number of year(s) notice as long as such earlier retirement notice date does not cause the Board to pay a penalty.
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Related to Post Retirement Service Recognition Plan

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any director, officer or employee of Metropolitan or its Subsidiaries, or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (i) for normal individual increases in compensation to employees in the ordinary course of business consistent with past practice, (ii) for other changes that are required by applicable law, and (iii) to satisfy Previously Disclosed contractual obligations existing as of the date hereof.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Public Employees Retirement System “PERS”) Members.