Common use of Deferred Pension Clause in Contracts

Deferred Pension. Any employee who is permanently laid off from the Company and whose recall rights have expired or been waived and whose age and seniority total fifty-five (55) or more at the date of layoff shall be entitled to a deferred pension beginning at the earliest date that he or she would have been eligible to retire had he continued to work for the Company. Where such employee has ten (10) or more years of seniority, such deferred pension shall include any applicable bridging benefits.

Deferred Pension. Any employee who is permanently laid off from the Company and whose recall rights have expired or been waived and whose age and seniority total fifty-five (55) 55 or more at the date of layoff shall be entitled to a deferred pension beginning at the earliest date that he or she would have been eligible to retire had he he/she continued to work for the Company. Where such employee has ten (10) 10 or more years of seniority, such deferred pension shall include any applicable bridging benefits.

Deferred Pension. Any employee who is permanently laid off from the Company and whose recall rights have expired or been waived and whose age and seniority total fifty-five (55) 55 or more at the date of layoff shall be entitled to a deferred pension beginning at the earliest date that he or she they would have been eligible to retire had he they continued to work for the Company. Where such employee has ten (10) 10 or more years of seniority, such deferred pension shall include any applicable bridging benefits.

Deferred Pension. Any employee who is permanently laid off from the Company and whose recall rights have expired or been waived and whose age and seniority total fifty-five (55) or more at the date of layoff shall be entitled to a deferred pension beginning at the earliest date that he or she would have been eligible to retire had he continued to work for the Company. Where such employee has ten (10) or more years of seniority, such deferred pension shall include any applicable bridging benefits.