Common use of Separation Incentive Clause in Contracts

Separation Incentive. All payments due under Article XV of the collective bargaining agreement between the School District and the Association shall be made as an Employer Non-elective Contribution to the 403(b) account of each covered employee in accordance with the terms and conditions of this Agreement and Article XV of the CBA. The Employer Non-Elective Contribution in the calendar year of retirement shall be made within 30 days immediately following the members’ effective date of separation from the district.

Separation Incentive. All payments due under Article XV of the collective bargaining agreement between the School District and the Association STA shall be made as an Employer Non-elective Contribution to the 403(b) account of each covered employee in accordance with the terms and conditions of this Agreement and Article XV of the CBA. The Employer Non-Elective Contribution in the calendar year of retirement shall be made within 30 days immediately following the members’ effective date of separation from the district.