Early Retirement Benefit Plan Sample Clauses

Early Retirement Benefit Plan. 3 The following provisions shall determine the conditions of eligibility and payment of Early
Sample 1
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Early Retirement Benefit Plan. The following provisions shall determine the conditions of eligibility and payment of Early Retirement Benefits to full-time certificated employees. 1. The employee must have reached his/her 55th birthday prior to July 1 of the year he/she elects to retire. The employee must have submitted to the Certificated Human Resources Office his/her letter of intent to retire ninety (90) days before his/her effective retirement date. 2. The employee must have rendered ten (10) years of credited service in paid status to the District with at least five (5) years of continuous service occurring immediately before retirement; FMLA (Article XVIII, Leaves, #10) will not be considered as a break in paid status under this section. 3. Verification must be established that the employee filed his/her application for regular retirement benefits, not a disability allowance, with the State Teacher’s Retirement System or has submitted an annual notarized affidavit stating that he/she has not or will not engage in gainful employment as a regular employee under the jurisdiction of the above retirement system.
Sample 1
Early Retirement Benefit Plan a) An employee must have 25 years service with the Corporation. b) Must have reached the age of 60 or met the OMERS factor. c) Benefits will only be paid for a maximum of five (5) years or age 65, whichever comes first. d) The Corporation will pay 100% of all extended health benefits according to the Collective Agreement.
Sample 1
Early Retirement Benefit Plan. Whereas the Corporate Early Retirement Plan was adopted by the Township of King in 2001, the Parties agree that the following Early Retirement Benefit Plan will be provided to all full-time employees:
Sample 1
Early Retirement Benefit Plan. An employee who retires from the Corporation with an unreduced pension will be allowed to maintain his or her coverage in the following specified plans until he or she turns 65 years of age or dies, whichever comes first. The cost of such coverage shall be paid equally by the Corporation and the Employee. An employee who retires from the Corporation with a reduced pension will be allowed to maintain his or her coverage in the following specified plans for a maximum of five years of coverage or until he or she reaches the age of sixty-five or dies, whichever comes first. The cost of such coverage shall be paid equally by the Corporation and the Employee. If the employee has retired with a reduced pension and reaches the maximum of five years of coverage and has not reached the age of sixty-five years, the employee can elect to maintain coverage at 100% payment by the Employee until he or she reaches the age of sixty-five or dies, whichever comes first. The employee portion shall be paid by periodic advance payment in a manner satisfactory to the Corporation. The benefit coverage will be limited to the following: (1) the Extended Health Care Plan (excluding out of province deluxe travel insurance); and (2) the Dental Plan
Sample 1
Early Retirement Benefit Plan. The following provisions shall determine the conditions of eligibility and payment of Early Retirement Benefits to full-time certificated employees. 1. The employee must have reached his/her 55th birthday prior to July 1 of the year he/she elects to retire. The employee must have submitted to the Certificated Human Resources Office his/her letter of intent to retire 90 days before his/her effective retirement date. 2. The employee must have rendered ten (10) years of credited service in paid status to the District with at least five (5) years of continuous service occurring immediately before retirement; FMLA (Article XVIII, Leaves, #10) will not be considered as a break in paid status under this section. 3. The employee must have rendered ten (10) years of credited service in paid status to the District with at least five (5) years of continuous service occurring immediately before retirement; FMLA (Article XVIII, Leaves, #10) will not be considered as a break in paid status under this section. 4. Verification must be established that the employee filed his/her application for regular retirement benefits, not a disability allowance, with the State Teacher’s Retirement System or has submitted an annual notarized affidavit stating that he/she has not or will not engage in gainful employment as a regular employee under the jurisdiction of the above retirement system.
Sample 1

Related to Early Retirement Benefit Plan

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • 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.

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

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