Description Benefit Sample Clauses

Description Benefit. Normal retirement 65 years (Before 1/1/2002) Age 62 with 8 years of service or “Rule of 85" (Effective 1/1/2002) Retirement benefit formula (annual) 2.0% X yrs svc X ave. highest 60 consecutive months (Eff. 4/1/94) Vesting 8 years Mandatory retirement none Early retirement (reduced benefit) 55/10 years Early retirement reduction .56% X no months preceding 65th birthday, max: 60 months (33%) .28% X no months preceding 60th birthday, max: 60 months (17%) Effective 01/01/2002: .56% x no months preceding normal retirement date, max: 60 months (33%) .28% x no months following initial retirement reduction, max: 24 months (7%) Deferred retirement 8 or more years: 65-regular 10 or more years:55-reduced Effective 01/01/2002: 8 or more years: 62-regular 10 or more years: 55-reduced Disability retirement total & permanent disability w/10 or more years; worker's compensation offset Death benefit survivor's annuity (50%) for spouse and/or children (Effective 04/01/1994) Duty connected death benefit none Maximum service credit none (Effective 04/01/1994) Compensation cap none (Effective 04/01/1994) Optional forms of payment straight life; optional reduced survivor's benefits Member contributions 2.5% of gross pay (pre-tax) (Effective 04/01/1994) 4.5% of gross pay (pre-tax) (Effective 01/01/2002) 5.5% of gross pay (pre-tax) (Effective 01/01/2007) 6.5% of gross pay (pre-tax) (Effective 01/01/2009) 8.5% of gross pay (pre-tax) (Effective 01/01/2011) S:\Contracts Agreements\Union Proposals and Agreements\GEL2C8Prob Ct ending 2011.wpd PAY GRADE POSITION NUMBER/DESCRIPTION 1 START 2 6 MOS 3 1 YEAR 4 2 YEARS 5 3 YEARS 6 4 YEARS 7 5 YEARS 8 6 YEARS 9 7 YEARS 10 8 YEARS G02 37080 37100 DEPUTY JUVENILE REGISTER I DEPUTY PROBATE REGISTER I $11.2559 $21,949.01 $11.4670 $22,360.65 $11.6778 $22,771.71 $12.0999 $23,594.81 $12.5221 $24,418.10 $12.9442 $25,241.19 $13.3662 $26,064.09 $13.7882 $26,886.99 $14.2105 $27,710.48 $14.6325 $28,533.38 G03 37110 DEPUTY PROBATE REGISTER II $11.9873 $23,375.24 $12.2122 $23,813.79 $12.4369 $24,251.96 $12.8866 $25,128.87 $13.3359 $26,005.01 $13.7856 $26,881.92 $14.2349 $27,758.06 $14.6847 $28,635.17 $15.1341 $29,511.50 $15.5837 $30,388.22 G04 37010 37090 ACCOUNT CLERK IV DEPUTY JUVENILE REGISTER II $12.7666 $24,894.87 $13.0061 $25,361.90 $13.2450 $25,827.75 $13.7241 $26,762.00 $14.2028 $27,695.46 $14.6817 $28,629.32 $15.1604 $29,562.78 $15.6391 $30,496.25 $16.1181 $31,430.30 $16.5966 $32,363.37 G05 37030 COURT OFFICER $13.5966 $26,513.37 $13.8514 $27,0...
Sample 1See All (4)
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Description Benefit normal retirement Age 62 and 8 yrs svc OR Employee’s age plus yrs svc (“Rule of 85") - Effective 01/01/2002 retirement benefit formula (annual) 2.0% X years svc X highest 60 consecutive months vesting 8 years mandatory retirement none early retirement (reduced benefit) 55/10 years early retirement reduction .56% X no months preceding normal retirement date, max: 60 months (33%) .28% x no months following initial retirement reduction, max: 24 months (7%) deferred retirement 8 or more years: 65-regular 55-reduced disability retirement total & permanent disability w/10 or more years; worker's compensation offset death benefit survivor's annuity (50%) for spouse and/or children duty connected death benefit none maximum service credit none compensation cap none optional forms of payment straight life; optional reduced survivor's benefits member contributions 2.5% of gross pay (pre-tax) 4.5% of gross pay (pre-tax) (Effective 01/01/2002) 5.5% of gross pay (pre-tax) (Effective 01/01/2007) 6.5% of gross pay (pre-tax) (Effective 01/01/2009) 8.5% of gross pay (pre-tax) (Effective 01/01/2011) Effective January 1, 2002 the defined benefit retirement plan for current employees covered by this Agreement shall be amended to provide that the normal retirement age
Sample 1
Description Benefit. Normal retirement 65 years (Before 1/1/2002) Age 62 with 8 years of service or “Rule of 85" (Effective 1/1/2002) Retirement benefit formula (annual) 2.0% X yrs svc X ave. highest 60 consecutive months (Eff. 4/1/94) Vesting 8 years Mandatory retirement none Early retirement (reduced benefit) 55/10 years Early retirement reduction .56% X no months preceding 65th birthday, max: 60 months (33%) .28% X no months preceding 60th birthday, max: 60 months (17%) Effective 01/01/2002: .56% x no months preceding normal retirement date, max: 60 months (33%) .28% x no months following initial retirement reduction, max: 24 months (7%) Deferred retirement 8 or more years: 65-regular 10 or more years:55-reduced Effective 01/01/2002: 8 or more years: 62-regular 10 or more years: 55-reduced Disability retirement total & permanent disability w/10 or more years; worker's compensation offset Death benefit survivor's annuity (50%) for spouse and/or children (Effective 04/01/1994) Duty connected death benefit none Maximum service credit none (Effective 04/01/1994) Compensation cap none (Effective 04/01/1994) Optional forms of payment straight life; optional reduced survivor's benefits
Sample 1
Description Benefit normal retirement Age 62 and 8 yrs svc OR Employee’s age plus yrs svc (“Rule of 85") - Effective 01/01/2002 retirement benefit formula (annual) 2.0% X years svc X highest 60 consecutive months vesting 8 years mandatory retirement none early retirement (reduced benefit) 55/10 years early retirement reduction .56% X no months preceding normal retirement date, max: 60 months (33%) .28% x no months following initial retirement reduction, max: 24 months (7%) deferred retirement 8 or more years: 65-regular 55-reduced disability retirement total & permanent disability w/10 or more years; worker's compensation offset death benefit survivor's annuity (50%) for spouse and/or children duty connected death benefit none maximum service credit none compensation cap none optional forms of payment straight life; optional reduced survivor's benefits member contributions 2.5% of gross pay (pre-tax) 4.5% of gross pay (pre-tax) (Effective 01/01/2002) 5.5% of gross pay (pre-tax) (Effective 01/01/2007) 6.5% of gross pay (pre-tax) (Effective 01/01/2009)
Sample 1

Related to Description Benefit

  • Education Benefits Notwithstanding the provisions of Article 5, academic staff members who qualify for benefits in accordance with Article 23.5.1.1 may take a credit, or non-credit language class offered by the University of Xxxxxx provided it does not interfere with performance of duties as determined by the Xxxx. The member and the Xxxx may discuss ways in which duties may be reassigned to make it possible for the member to take the class. Upon successful completion, reimbursement of tuition will be provided for one class per semester.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Description of Benefits The benefits available under this Plan will be as defined in Item F(2) of the Adoption Agreement.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Vacation Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Lump Sum The Change Order cost is determined by mutual agreement as a lump sum amount changing the Contract Sum allowed for completion of the Work. The Change Order shall be substantiated by documentation itemizing the estimated quantities and costs of all labor, materials and equipment required as well as any xxxx-up used. The price change shall include the cost percent allowed for the Contractor's overhead and profit and, if eligible, Time Dependent Overhead Costs.

  • Lump Sum Compensation Lump sum computation refers to the method of payment under this Agreement for the professional services of the Consultant.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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