Faculty Association - Capital Region BOCES

MEMORANDUM OF AGREEMENT
#132
AGREEMENT made this 21st day of May, 2012 by and between the ALBANY-SCOHARIE-
SCHENECTADY-SARATOGA BOARD OF COOPERATIVE EDUCATIONAL
SERVICES, hereinafter referred to as the BOCES, and the ALBANY-SCHOHARIE-
SCHENECTADY-SARATOGA FACULTY ASSOCIATION, Teacher Unit, Teaching
Assistants/Educational Assistants Unit and Service Unit, hereinafter referred to as the Union,
as follows:
WHEREAS, the Collective Bargaining Agreements dated, June 30, 2010 to June 30, 2012 and July 1,
2012 to June 30, 2014 and July 1, 2010 to June 30, 2012 are silent on the topic of retirement incentives;
NOW THEREAFTER, the parties agree that Faculty Association Union, Teacher Unit,
Teaching Assistants, Educational Assistant Unit, and Service Unit members will be
eligible for this one-time limited retirement incentive if they meet all of the following
criteria:
1. Employee must be eligible to retire from, and actually receive such benefits from, the NYS
Teachers Retirement System (TRS) or the NYS Employees Retirement System (ERS).
2. Retire effective no later than September 15, 2012.
3. Submit an irrevocable letter of resignation contingent upon the minimum participation set
forth below for each of the respective bargaining units to the Human Resources Department
by close of business (4:00 PM), June 15, 2012.
4. The benefit provided for herein will not be available to any employee who is the subject of
disciplinary charges under either Education Law 3020-a or Civil Service Law §75
on the effective date of that employee’s retirement. In the event the employee is
subsequently exonerated under the statutory procedures, the benefits of this agreement
will be provided to the employee within sixty (60) days of the exoneration.
Minimum participation by each unit’s membership must be no less than Teachers Unit, eight (8) members,
Teaching Assistants / Educational Assistant Unit, four (4) members, and Service Unit four (4) members in order
for this agreement to be effective and binding.
NOW THEREFORE, the parties agree that Faculty Association Union members will be eligible for the
following one-time limited retirement incentive payable within sixty (60) days of retirement date if
they meet the above stated criteria:

Retirement Incentive Payout:
Teachers:
Employee’s Current Salary minus 2011-2012 Step 3, column IV hiring rate divided by 2. If an
employee is less than 1.0 FTE the retirement incentive will be prorated accordingly.
Example: Employee A currently is a 1.0 FTE step 24, column IV earning $93,000. Current step 3,
column IV salary is $46,238. The incentive for this employee would be $23,381.
($93,000 - $46,238 = $45,762 / 2 = $23,381)
Teaching Assistants / Educational Assistants:
Employee’s Current Salary minus 2011-2012 Step 1 hiring rate divided by 2. If an employee is less
than 1.0 FTE the retirement incentive will be prorated accordingly.
Example: Employee A currently is a 1.0 FTE Step 15 earning $18.89 per hour working 6 hours per
day 185 days per year. Current Step 1 hourly rate is $11.94. The incentive for this employee
would be $3,857.25. $20,967.90 ($18.89 x 6 x 185) - $13,253.40 ($11.94 x 6 x 185) /2 =
$3,857.25.
Service Unit:
Employee’s Current Salary minus minimum hiring rate (2011-12) for grade of position divided by
2. If an employee is less than 1.0 FTE or 10 month vs. 12 month, the retirement incentive will be
prorated accordingly.
Example: Employee A currently is a 1.0 FTE Grade X earning $42,000. Current Grade X
minimum hiring rate is $34,175. The incentive for this employee would be $3,912.50. ($42,000 -
$34,175 = $7,825 / 2 = $3,912.50.
Employer Non-Elective Contribution to 403(b) Plan
Employer Non-Elective Contribution- Retirement Incentive The Employer agrees to make an
Employer Non-Elective Contribution to the 403(b) account of each covered employee entitled to a
retirement incentive in accordance with the Board of Education Resolution dated May 21, 2012
creating such incentive. Such contribution will be in an amount equal to and in place of the retirement
incentive outlined in said Memorandum of Agreement, subject to the maximum contribution permitted
under §415(c)(l) of the Internal Revenue Code of 1986, as amended, for the year in which the employee
severs employment.
No Cash Option No employee may receive cash in lieu of or as an alternative to any of the
Employer's Non-Elective Contribution(s) described herein.
Contribution Limitations in any applicable year, the maximum Employer Contribution shall not
cause an employee's 403(b) account to exceed the applicable contribution limit under §415(c)(1) of
the code, as adjusted for cost-of-living increases. For Employer Non-Elective contributions made
post-employment to former employees' 403 (b) account, the Contribution Limit shall be based on

the employee's compensation, as determined under §403(b)(3) of the Code.
In the event that the calculation of the Employer Non-Elective Contribution exceeds the
applicable contribution limit, the Employer shall first make an Employer Non-Elective
Contribution up to the Contribution Limit of the Internal Revenue Code and then pay any excess
amount as compensation directly to the Employee. In no instance shall the Employee have any
rights to, including ability to receive, any excess amount as compensation unless and until
compensation limit of the Internal Revenue Service Code are fully met through payment of the
Employer's Non-Elective Contribution; and
403(b) Accounts Employer Non-Elective Contributions shall be deposited into the 403(b) account
selected by the employee to receive employer contributions provided such account will accept
Employer Non-Elective contributions.
Tier 1* Adjustments Tier I* members with membership dates prior to June 17, 1971, Employer
Non-Elective Contributions hereunder will be reported as non-regular Contributions hereunder will
be reported as non-regular compensation to the New York State Teachers Retirement System.
*Applicable to NYSTRS Tier I Members
This Memorandum of Agreement (MOA) shall be subject to Internal Revenue Service regulations
and rulings. Should any portion be declared contrary to law, then such portion shall not be deemed
valid and subsisting, but all other portions shall continue in full force and effect. As to the
portions declared contrary to law, the BOCES and the PAO Union shall promptly meet and alter
those portions in order to provide the same or similar benefit(s) which conform, as closest to possible,
to the original intent of the parties.
Both the Employer and Employee are responsible for providing both Elective and Employer Non-
Elective Contributions and the amount of the participant's Includible Compensation,
For Employer:
By:
Dated:
For the Association
By:
Date: