Distributions For Those Who Remain In Service After Normal Retirement Sample Clauses

Distributions For Those Who Remain In Service After Normal Retirement. The Employer may elect to permit active Participants who have satisfied the Employer's qualifications for Normal Retirement or Alternative Normal Retirement to begin drawing their benefit even though they have not yet terminated employment with the Employer, subject to the terms of the Master Plan in Section 6.06(g). However, in accordance with IRS requirements, even if the Employer elects to permit in-service distributions and a Participant has otherwise satisfied the qualifications for Normal Retirement or Alternative Normal Retirement in Sections 14.B. or 14.C. above, the Participant will not be permitted to take an in-service distribution unless the Participant satisfies the applicable minimum age parameters set forth below. The Employer makes the following election in this regard (check one):
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Distributions For Those Who Remain In Service After Normal Retirement. Distribution of retirement benefits is not permitted until the participant has terminated employment and otherwise qualifies for receipt of benefits.
Sample 1

Related to Distributions For Those Who Remain In Service After Normal Retirement

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

  • RETIREMENT PICK-UP 257. For the term of this Agreement, the CITY shall pick up the full amount of the employees’ contribution to retirement.

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

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