Common use of Qualifications and Limitations Clause in Contracts

Qualifications and Limitations. To be eligible for the retirement benefits described above, a teacher must comply with all of the following requirements and limitations: 1. The teacher must be eligible for retirement under the Illinois Teacher’s Retirement System and receive retirement benefits commencing at the end of the final school year of employment pending completion of all Illinois Teacher’s Retirement System requirements. 2. The teacher must have a minimum of fifteen (15) years of regular full-time or part-time service with LaSalle School District #122 and must be eligible to retire under the Illinois Teacher’s Retirement System (“TRS”) or voluntary normal retirement plans without any TRS earnings cap penalty payment requirement for the Board based upon the teacher’s age and/or years of TRS creditable service. 3. To participate in this retirement plan, and receive benefits hereunder, the teacher must submit a notice of intent to retire to the Superintendent for Board approval by August 15 of the 4th, 3rd, 2nd, or last school year preceding the teacher’s final school year of employment. Teachers wishing to participate in this plan will be allowed to submit their requests after January 1st of their fifth year before their final year of employment. 4. Any teacher who commences participation in this retirement benefits plan and fails to comply with the provisions herein, with the exception of the death or total disability of the teacher during the final 3, 2, or 1 years of employment, and subsequently submits a letter to rescind the retirement and the Board accepts, shall reimburse the District for any increased salary payments granted under this provision. If a teacher submits a notice of retirement and begins receiving creditable earnings increases in accordance with this provision and subsequently rescinds his/her notice of intent to retire, the amount of creditable earnings received in excess of the annual salary increase negotiated for the teacher pursuant to the teacher salary schedule will be deducted from the teacher’s regular salary in equal installments for the same number of pay periods in which he/she received the creditable earnings increases under this Section 10.1.

Qualifications and Limitations. To be eligible for the retirement benefits benefit described in Article 8.4(a) above, a teacher must comply with all of the following requirements and limitations: (1. ) The teacher must be eligible for retirement under the Illinois Teacher’s Retirement System and apply for and receive retirement benefits commencing at the end of the final school year of employment pending completion of all Illinois Teacher’s Retirement System requirements. (2. ) The teacher must have a minimum of fifteen twenty (1520) years of regular full-time or part-time service with LaSalle School District #122 No. 231 at the time of retirement and must be eligible to retire under the Illinois Teacher’s Retirement System (“TRS”) early retirement without discount (“ERO”) or voluntary normal retirement plans without any TRS earnings cap mandatory employer contribution or ERO penalty payment requirement for the Board based upon the teacher’s age and/or years of TRS creditable service. (3. ) To participate in this retirement plan, and receive benefits hereunder, the teacher must submit a notice letter of intent to retire to the Superintendent for Board approval interest and a letter of retirement by August 15 May 1 of the 4th, 3rd, 2nd, 2nd or last school year preceding the teacher’s final school year of employment. Eligible teachers who provide a retirement letter by May 1, 2013 may receive a maximum two (2) years of annual retirement benefits increases for the 2013-2014 and 2014-2015 school years. Eligible teachers who provide a retirement letter by May 1, 2014 may receive a maximum two (2) years of annual retirement benefits increases for the 2014-2015 and 2015-2016 school years. Eligible teachers who provide a retirement letter by May 1, 2015 may receive a maximum two (2) years of annual retirement benefits increases for the 2015-2016 and 2016-2017 school years. Eligible teachers who provide a retirement letter by May 1, 2016 may receive a maximum two (2) years of annual retirement benefits increases for the 2016-2017 and 2017-2018 school years. (4) Teachers wishing to participate who are otherwise eligible for participation in this retirement benefits plan will shall be allowed entitled to submit receive the retirement benefits described in this Section 8.4 regardless of whether or not their requests retirement date occurs after January 1st expiration of this 2012-2016 Collective Bargaining Agreement, provided the teacher submits their fifth year before their final year advance notice of employmentretirement no later than May 1, 2016. 4. (5) Any teacher who commences participation in this retirement benefits benefit plan and fails to comply with the provisions herein, with the exception of the death or total disability of the teacher during the final 3, 2, 2 or 1 years of employment, employment and subsequently submits a letter to rescind the retirement and the Board accepts, shall reimburse the District for any increased salary payments granted under this provisionprovision including tax and pension withholdings. If a teacher submits a notice of retirement and begins receiving creditable earnings increases in accordance with this provision and subsequently rescinds his/her notice of intent to retire, the amount of creditable earnings received in excess of the annual salary increase negotiated for the teacher pursuant to the teacher salary schedule will be deducted from the teacher’s regular salary in equal installments for the same number of pay periods in which he/she received the creditable earnings increases under this Section 10.18.4.

Qualifications and Limitations. To be eligible for the retirement benefits described above, a teacher must comply with all of the following requirements and limitations: 1. The teacher must be eligible for retirement under the Illinois Teacher’s Retirement System and receive retirement benefits commencing at the end of the ofthe final school year of employment pending completion of all Illinois Teacher’s Retirement System requirements. 2. The teacher must have a minimum of fifteen (15) years of regular full-time or part-time service with LaSalle School District #122 and must be eligible to retire under the Illinois Teacher’s Retirement System (“TRS”) early retirement without discount (“ERO”) or voluntary normal retirement plans without any TRS earnings cap ERO penalty payment requirement for the Board based upon the teacher’s age and/or years of TRS creditable service. 3. To participate in this retirement plan, and receive benefits hereunder, the teacher must submit a notice of intent to retire to the Superintendent for Board approval by August 15 of the 4th, 3rd, 2nd, or last school year preceding the teacher’s final school year of employment. Teachers wishing to participate in this plan will be allowed to submit their requests after January 1st of their fifth year before their final year of employment. 4. Any teacher who commences participation in this retirement benefits plan and fails to comply with the provisions herein, with the exception of the death or total disability of the teacher during the final 3, 2, or 1 years of employment, and subsequently submits a letter to rescind the retirement and the Board accepts, shall reimburse the District for any increased salary payments granted under this provision. If a teacher submits a notice of retirement and begins receiving creditable earnings increases in accordance with this provision and subsequently rescinds his/her notice of intent to retire, the amount of creditable earnings received in excess of the annual salary increase negotiated for the teacher pursuant to the teacher salary schedule will be deducted from the teacher’s regular salary in equal installments for the same number of pay periods in which he/she received the creditable earnings increases under this Section 10.1.