Transitional Retirement Option. Any teacher who is eligible for the Public Employees Retirement Association (P.E.R.A.) retirement income and has been deemed effective on the two most recent evaluations will be eligible for the transitional retirement option from the Sheridan School District. Conditions for transitional retirement are: 1. The teacher will elect to take P.E.R. A. retirement but will work for Sheridan School District as a teacher for the next contract year (185 days) immediately following the date of retirement. 2. During the transitional year the teacher will be placed on the salary schedule commensurate with placement had the teacher not elected retirement. 3. Notice shall be given to the Superintendent of Schools no later than April 15 for the ensuing school year. 4. Participant salaries will be reduced to cover the cost of both employer and employee PERA contributions. Benefits are not included. 5. Participants will be eligible for five leave days. 6. Participants will be placed on "Goal Setting."
Appears in 2 contracts
Sources: Master Agreement, Master Agreement