When the end of the fiscal year for pay purposes for weekly and bi-weekly paid employees does not coincide with the end of the fiscal year and a member wishes to retire July 1:
- (1) Termination pay shall be based on rate of pay at end of pay period year.
- (2) Salary used in Retirement Formula Calculation terminates with last day of pay period year.
- (3) Retirement is effective July 1.
- (4) Employee may continue working during gap period at new salary rate.