Terminal Leave Payment. In appreciation for services to the district, a terminal leave payment of 1/4 of 1% per year of the retiring year's pay, not to exceed a maximum of 5%, will be paid to all teachers qualifying for retirement under the Michigan Public School Employee Retirement System, upon retirement, provided this teacher shall have been employed in the district for ten (10) years or more. In addition the teacher will receive one half (1/2) of the current substitute teacher pay for each day of unused sick leave up to a maximum of ninety five (95) days.
Appears in 1 contract
Sources: Collective Bargaining Agreement
Terminal Leave Payment. In appreciation for services to the districtSchool District, a terminal leave payment of 1/4 of 1% per year of the retiring year's pay, not to exceed a maximum of 5%, will be paid to all teachers qualifying for retirement under the Michigan Public School Employee Retirement SystemAct, upon retirement, provided this teacher shall have been employed in the district School District for ten (10) years or more. In addition the teacher will receive one half (1/2) of the current substitute teacher pay for each day of unused sick leave up to a maximum of ninety five (95) days.
Appears in 1 contract
Sources: Bargaining Agreement