Alternative Early Retirement Reduction Table Sample Clauses

Alternative Early Retirement Reduction Table. The monthly Early Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit, but the benefit shall be reduced to account for early commencement of benefits based on the following table. This table shall apply to: All Participants. Only the following Participants (must specify - specific positions are permissible; specific individuals may not be named): .
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Alternative Early Retirement Reduction Table. Number of Years Before Age 65 (check as applicable) Percentage of Normal Retirement Benefit* (complete as applicable) 0 1.000 1 0.970 2 0.940 3 0.910 4 0.880 5 0.850 6 0.790 7 0.730 8 0.670 9 0.610 10 0.550 11 0. 12 0. 15 0. *Interpolate for whole months
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Alternative Early Retirement Reduction Table. The monthly Early Retirement benefit shall be computed in the same manner as the monthly Normal Retirement benefit, but the benefit shall be reduced to account for early commencement of benefits based on the following table. This table shall apply to: All Participants. Only the following Participants (must specify - specific positions are permissible; specific individuals may not be named): Participants who Retire early using the 55 & 10 Early Retirement qualification in Section 14(A) above. See also General Addendum subsection 16(d) regarding the reduction applicable to Participants who have at least five (5) years of Credited Service while employed as police and fire personnel or former police and fire personnel and apply for Early Retirement based on the 50 & 20 Alternative Normal Retirement qualification.
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Related to Alternative Early Retirement Reduction Table

  • Benefits on Early Retirement The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age 65 and who are in receipt of the Hospital’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Hospital to the billed premiums of active employees.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Enhanced Early Retirement 26.11.1 Employees engaged prior to 1 May 1994 are eligible if they are within 10 years of the age of eligibility for government superannuation and have a minimum of ten years' total aggregated service with the employer, with one or more other DHBs, and with one or more of the following services:

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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