Common use of Separation Incentive Clause in Contracts

Separation Incentive. A Court Reporter who elects to separate at the same time as their Appointing Authority and has worked for the Appointing Authority for at least two (2) years immediately preceding separation shall receive a separation incentive of one and one half (1.5) times the applicable paid notice period in 21.3 A. The payment shall be made in a lump sum of up to $30,000. For Court Reporters who receive State Benefits, one hundred percent (100%) of the payment shall be placed in their Health Care Savings Plan Account. For Reporters who receive County Benefits, at the selection of the Court Reporter, the payment shall be paid as a taxable cash payment, less applicable deductions, or put into the Employee’s deferred compensation account. Court Reporters who take this incentive may not be employed as an Employee of the Minnesota Judicial Branch for five (5) years following the date of separation. The job search and reassignment availability requirements in Article 21.3 A. shall not apply to Court Reporters taking advantage of the incentive. A pool of $100,000 per fiscal year will be available to fund separation incentives of Employees. The Employer may elect to exceed this pool pending availability of funds.