Retirement in Private Educational Institutions

June 1, 1977POLICY INSTRUCTIONS NO. 25-77TO:All Concerned   SUBJECT:Retirement in Private Educational Institutions For purposes of applying the retirement provisions of the Labor Code in private educational institutions, and in consideration of the unique characteristics and peculiar problems and work situations of such institutions, the following rules are hereby issued for the information and guidance of all concerned:I — If there is a retirement plan under a collective agreement or employer policy in private educational institutions, any teacher and/or employee who retires or is retired from the service pursuant to the same shall be entitled to all the retirement benefits provided therein.II — In the absence of any such company policy or collective agreement providing for a retirement plan for teachers and other employees in private educational institutions, any teacher and/or employee may retire or be retired from the service upon reaching the age of sixty (60) years and shall be paid the equivalent of at least one month salary or one-half month salary for every year of service, whichever is higher, a fraction of at...