Bridge Benefit (Core Employees only Sample Clauses

Bridge Benefit (Core Employees only. A $500 monthly income benefit is payable to your surviving spouse only. To qualify for this benefit, your surviving spouse must be between the ages of 45 and 60 years of age at the time of your death or your spouse’s age, when added to your seniority at the time of death, must total 55 or more. The bridge benefit will begin immediately following the last transition benefit payment. For any spouse eligible for a mother’s or father’s Federal Social Security benefit, this bridge benefit will begin following the termination of the Federal Social Security benefit. Bridge benefits will cease when your surviving spouse remarries, dies, attains age 62, or any lower age at which Widow’s or Widower’s benefits are payable under Federal Social Security. Surviving spouses who apply for survivor benefits after January 31, 2005, are entitled to choose either the bridge/transition benefit or the Surviving Spouse pension benefit, but not both.
Sample 1
AutoNDA by SimpleDocs

Related to Bridge Benefit (Core Employees only

  • Employee’s Role The Employee ☐ shall ☐ shall not have the right to act in the capacity of the Employer. This includes, but is not limited to, making written or verbal agreements with any customer, client, affiliate, vendor, or third (3rd) party.

  • 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.

  • Employee Compensation Upon Separation An Employee, upon her separation from employment, shall be compensated for vacation leave to which she is entitled.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • Holiday Pay for Employees Laid Off An employee who is laid off at the close of business the day before a holiday who has worked not less than five (5) previous consecutive work days shall be paid for the holiday.

  • Overtime-Eligible Employees Employees who are covered by the overtime provisions of state and federal law.

  • Employees' Compensation The Consultant shall be solely responsible for the following:

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

  • Employees on Pre-scheduled Leave If an employee is on pre-scheduled leave the day of the closure, the employee will be compensated according to the approved leave.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

Time is Money Join Law Insider Premium to draft better contracts faster.