Benefit Definition Sample Clauses

Benefit Definition. Effective July 1, 2014, or upon ratification, whichever is later, and after approval of the LTD/ATU Pension Trustees, the minimum benefit rate for employees covered by this Agreement and who retire and terminate their employment after July 1, 2014 (or after ratification, if later), shall be sixty-five dollars and fifty cents ($65.50) per year of credited service. The parties agree that any future increases after the increase stated above will be applied to future credited service only. Effective January 1, 2016, and after approval of the LTD/ATU Pension Trustees, the retirement benefit credit earned for the calendar year 2016 will be sixty-seven dollars ($67.00). This increase shall be applied only to credited service after January 1, 2016. Effective January 1, 2017, and after approval of the LTD/ATU Pension Trustees, the retirement benefit credit earned for the calendar year 2017 will be seventy dollars ($70.00). This increase shall be applied only to credited service after January 1, 2017.
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Benefit Definition. Effective July 1, 2014, or upon ratification, whichever is later, and after approval of the LTD/ATU Pension Trustees, the minimum benefit rate for employees covered by this Agreement and who retire and terminate their employment after July 1, 2014 (or after ratification, if later), shall be sixty-five dollars and fifty cents ($65 .50) per year of credited service . The parties agree that any future increases after the increase stated above will be applied to future credited service only . Effective January 1, 2018, and after approval of the LTD/ATU Pension Trustees, the retirement benefit credit earned for the calendar year 2018 will be seventy-two dollars ($72 .00) . This increase shall be applied only to credited service after January 1, 2018 . Effective January 1, 2019, and after approval of the LTD/ATU Pension Trustees, the retirement benefit credit earned for the calendar year 2019 will be seventy-four dollars ($74 .00) . This increase shall be applied only to credited service after January 1, 2019 . Effective January 1, 2020, and after approval of the LTD/ATU Pension Trustees, the retirement benefit credit earned for the calendar year 2020 will be seventy-six dollars ($76 .00) . This increase shall be applied only to credited service after January 1, 2020 . Effective January 1, 2021, and after approval of the LTD/ATU Pension Trustees, the retirement benefit credit earned for the calendar year 2021 will be seventy-eight dollars ($78 .00) . This increase shall be applied only to credited service after January 1, 2021 .
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Benefit Definition. For the purposes of this section, the following definitions apply:
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Related to Benefit Definition

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  • Project Definition The known characteristics of the Project and sub-projects shall be described in general terms which will provide the participants a basic understanding of the Project and sub- projects.

  • Employee Definition The term “employee" when used in this Agreement will refer to all employees in the unit for bargaining as defined in Section 1.

  • FTE Definition Effective September 1, 2017, part-time teacher FTE will be determined by the ratio of the teacher’s actual annual instructional time to the teacher instructional time of a full-time assignment in the teacher’s school. This FTE will be used to calculate the prorated portion of a teacher’s assignable time.

  • Overtime Definition Overtime shall be defined as being all hours worked in excess of the normal or standard work day, or in excess of the normal or standard work week. The overtime rate shall be one and one-half (1½) times the regular straight time hourly rate of pay. NOTE: Article 16.04 is applicable to full-time employees only.

  • Employee Definitions For the purpose of this Agreement, the following definitions shall apply:

  • Grievance Definition A grievance is an allegation by an employee or a group of employees that there has been a violation, misapplication, or misinterpretation of this Agreement, which occurred during the term of this Agreement. The term “grievant” as used in this Article includes the term “grievants.”

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  • – SCOPE & DEFINITIONS 2.01 The employer recognizes the Ontario Nurses’ Association as the sole and exclusive bargaining agent for all registered nurses and nurses with a temporary certificate of registration employed by THE WILLOWGROVE LTC Residence in the City of Xxxxxxxx, save and except managers, persons above the rank of manager and persons covered by a subsisting collective agreement.

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