§ 87488 Early Retirement Incentive Credit

Whenever the governing board of a community college district, by formal action, determines that because of impending curtailment of or changes in the manner of performing services, the best interests of the district would be served by encouraging the retirement of academic employees and that the retirement will result in a net savings to the district, an additional two years of service shall be credited under the Defined Benefit Program of the State Teachers’ Retirement Plan to an academic employee pursuant to Section 22714 if all of the conditions set forth in that section are satisfied. (Amended by Stats. 2003, Ch. 313, Sec. 16. Effective January 1, 2004.)