Application and Agreement. (1) An employee who wishes to be considered for an early retirement incentive must make the necessary application by November 1st the year prior to intended retirement. The College will consider all applications. Offers or rejections will be made to employees by the following March 31st. (2) An employee has the right to accept or decline an early retirement incentive offer made by the College within thirty (30) days of the offer being made. (3) All applications for early retirement incentive which have not been granted by the College will not be considered standing applications for the following twelve (12) month period. Applicants will need to reapply on an annual basis. (4) When an offer of an early retirement incentive is accepted, an employee's early retirement will be effective on a date mutually agreed upon between the employee and the College. All earned vacation entitlements shall be utilized prior to the date of retirement. (5) The individual employee's early retirement incentive agreement will be in writing and will specify the early retirement date, the payment date or dates, and the specific dollar amount of the incentive. (6) The College will provide the Union with copies of all early retirement incentive agreements.
Appears in 9 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
