SUPER SEVERANCE PAY
In the event a bargaining unit member resigns his/her employment with the Board
for retirement purposes effective the end of the work year that he/she first becomes
eligible to retire through the State Teacher's Retirement System (STRS) and who actually
retires through STRS at the end of that year, he/she shall receive a lump sum payment of
$8,000.00 plus severance pay as provided in the contract. In order to be eligible for such
super severance pay, such member must submit an irrevocable letter of resignation of
employment for retirement purposes to the Board no later than February 15th of such
year. Any bargaining unit member who elects not to resign his/her employment with the
Board at the end of the work year in which he/she first becomes eligible to retire through
the STRS shall forfeit his/her right to any payment pursuant to this provision and shall be
entitled only to severance pay pursuant to Article 18 of this contract upon retirement.
Eligible to retire, as defined by the STRS, shall be the first happening of any of
the following events:
Any age and 30 years of service
Age 55 and 25 years of service
Age 60 and 5 years of service
Payment pursuant to this provision shall be considered earned and payable in July
following a full year of retirement.
No retirement contribution will be deducted from the super severance pay.