Retirement Option. An ESP employee planning to retire should notify the Director of Human Resources at least 2 months before the retirement date (Board Policy 5:290). Employees serving twenty (20) years or more in a full-time positions in Yorkville CUSD 115 who elect to retire under IMRF will receive a benefit of three percent (3%) of their next to final 12-month average base salary (e.g., 3% shall be the complete salary increase for the retiring employee) paid as part of the regular paycheck in the final year of employment, provided that the employee electing to receive this benefit submits to the Board an irrevocable letter of retirement effective at the end of his/her retirement year. The letter of retirement must be submitted no later than fourteen (14) months preceding the employee’s retirement date.
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Sources: Educational Support Personnel Agreement, Educational Support Personnel Agreement