Alternative Retirement Program Sample Clauses

Alternative Retirement Program. (ARP). Full-time (100% FTE) Bargaining Unit members appointed after June 23, 1998 can elect to participate in the Ohio Alternative Retirement Plan (ARP). Eligible members may make a one time irrevocable election to opt out of the State Teachers Retirement System (STRS) or the Ohio Public Employees Retirement System (OPERS) and participate in the ARP. The election must be made within ninety (90) days of the date of hire. Bargaining Unit members participating in the ARP shall make periodic contributions with the University. The rates on the effective date of this Agreement are: STRS Eligible: ARP: University 10.5% Bargaining Unit Members 10.0% OPERS Eligible: ARP: University 12% Bargaining Unit Members 8.5% The University contribution may be adjusted based on any changes to the unfunded liability percentage remitted to STRS and/or OPERS and set by law and/or the Ohio Retirement Commission.
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Alternative Retirement Program. (ARP). Full-time (100% FTE) Faculty Members appointed after June 23, 1998 can elect to participate in the Ohio Alternative Retirement Plan (ARP). Eligible members may make a one- time irrevocable election to opt out of the State Teachers Retirement System (STRS) or the Ohio Public Employees Retirement System (OPERS) and instead participate in the ARP. The election must be made within one hundred twenty (120) days of the initial appointment date or the date of transfer into a 100% FTE position. The same rate of employer and member contributions will be required for Faculty Members participating in the ARP as would have been required if the Faculty Member elected to remain in STRS or OPERS. A portion of the employer’s contributions (the “Mitigating Rate”) must be contributed to STRS or OPERS, as applicable, in recognition of the unfunded defined benefit portion of those programs. Faculty Members participating in the ARP shall make periodic contributions with the University. The rates on the effective date of this Agreement (July 1, 202219) are: STRS Eligible: ARP: University 14.0% (of which 2.914.47% is the Mitigating Rate), Faculty Members 14.0% OPERS Eligible: ARP: University 14% (of which 2.2444% is the Mitigating Rate), Faculty Members 10.0% 4-11-22 4-11-22
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Alternative Retirement Program. ‌ A teacher who does not participate in the Retirement Incentive Program under Section 16, who has completed 15 consecutive years of full-time teaching service in the District and who submits to the Superintendent by no later than February 1 in the year of retirement, a notice of resignation and retirement effective at the end of the school term, will be provided the following benefits:
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Alternative Retirement Program. FOR PART-TIME EMPLOYEES
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Related to Alternative Retirement Program

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Broad Participation Retirement Fund A fund established in The Bahamas to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund:

  • Retirement Programs The Company agrees to provide Employees with the benefits under the Magna Group of Companies Retirement Savings Program as set out in the Employee Retirement Savings Program Booklets.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

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