Common use of Terminal Leave Payment Clause in Contracts

Terminal Leave Payment. The following table of leave payments is based on any staff member who has a minimum of ten (10) years of service to the College: 65, 66, 67, 68, 69, or 70 Or retires after age 55 if retirement is the result of ill health sufficient to qualify for disability retirement under the Michigan Retirement System for Public School Employees Act One hundred twenty-five ($125) dollars 63 or 64 One hundred fifty ($150) dollars 60, 61, or 62 One hundred seventy ($170) dollars 56 or 57 Two hundred twenty-five ($225) dollars 55 Or has twenty-five (25) years created service under the Michigan Retirement System for Public School Employees Act and attains age 50, 51, 52, 53, or 54 Two hundred fifty ($250) dollars