Early Retirement Benefits – Full Time Employees Only Sample Clauses

Early Retirement Benefits – Full Time Employees Only. In the case of retirement due to total and permanent disability not covered by the Workplace Safety Insurance, after a minimum of twenty (20) years’ service with the County and after the age of fifty-five (55) years, the County agrees to pay one hundred percent (100%) of the premiums for Extended Healthcare Plan and Dental Plan until the employee reaches sixty-five (65) years of age.
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Early Retirement Benefits – Full Time Employees Only. (i) In the case of retirement due to total and permanent disability not covered by the Workplace Safety Insurance, after a minimum of twenty (20) years’ service with the County and after the age of fifty-five (55) years, the County agrees to pay one hundred percent (100%) of the premiums for Extended Healthcare Plan and Dental Plan until the employee reaches sixty-five (65) years of age. (ii) This Article 30.1(e)(ii) applies to all employees who are employed by the County as of April 22, 2002, being the date of ratification of this agreement. In the case of retirement prior to age sixty-five (65) if the employee is fifty-five (55) years of age or older, and is eligible for an unreduced pension under the OMERS Pension Plan, the County agrees to pay 100% of the premiums for the Extended Health Care Plan, Dental and Group Life Insurance until the employee reaches age sixty-five (65). Should the employee die prior to age sixty-five (65) and while in receipt of these health benefits, the employee’s spouse will receive such benefits until the date at which the employee would have been sixty-five (65) years of age or until remarriage of the spouse whichever is sooner. (iii) This Article 30.1(e)(iii) applies to all employees who are hired by the County after April 22, 2002, being the date of ratification of this agreement. In the case of retirement prior to age sixty-five (65) if the employee is fifty-five (55) years of age or older, has been an active employee for at least twenty (20) years with Haldimand County and is eligible for an unreduced pension under the OMERS Pension Plan, the County agrees to pay 100% of the premiums for the Extended Health Care Plan, Dental and Group Life Insurance until the employee reaches age sixty-five (65). Should the employee die prior to age sixty-five (65) and while in receipt of these health benefits, the employee’s spouse will receive such benefits until the date at which the employee would have been sixty-five (65) years of age or until remarriage of the spouse whichever is sooner. (iv) Life insurance coverage shall not accrue to the spouse upon the death of the member. (v) For the purpose of this sub-Article (e), service in the County includes service in the former City of Nanticoke, the former Town of Haldimand, the former Town of Dunnville and / or the former Regional Municipality of Haldimand-Norfolk. (vi) The coverage provided by payment of the premiums pursuant to this Article 30.1(e) shall be in accordance with the sa...
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Early Retirement Benefits – Full Time Employees Only. (i) In the case of retirement due to total and permanent disability not covered by the Workplace Safety Insurance, after a minimum of twenty
Sample 1

Related to Early Retirement Benefits – Full Time Employees Only

  • 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.

  • Other Employment Benefits During the Employment Term, the Executive shall be entitled to the following employment benefits: (a) four (4) weeks of paid vacation in each fiscal year of EDGEN while the Executive is employed hereunder (one week of which, if not used by the Executive in any given fiscal year, may be carried over to the next fiscal year; provided, that the Executive shall not have more than five (5) weeks of paid vacation in any given fiscal year as a result of such carry over), and sick leave in accordance with EDGEN’s policies from time to time in effect for executive officers of EDGEN; provided, that, except as provided herein, vacation and/or sick leave time not used in any year may not be carried over or transferred from one year to another or converted to cash, except in a year in which there is a Change of Control (as hereinafter defined) where the Executive is no longer employed; (b) participation, subject to qualification requirements, in medical, life or other insurance or hospitalization plans and long-term disability policies which are presently in effect or hereinafter instituted by EDGEN and applicable to its executive officers generally; (c) participation, subject to classification requirements and continued maintenance thereof by EDGEN in other Executive benefit plans, such as pension and profit sharing plans, which are from time to time applicable to EDGEN’s executive officers generally; (d) an automobile allowance of $1,200 per month, which shall be used by the Executive to cover all lease and insurance payments with respect to one automobile of the Executive’s choice for business purposes, which automobile’s retail value shall not exceed $75,000. The Executive shall provide proof of insurance in limits and with a company approved by EDGEN. EDGEN shall also be listed as a “named insured” under the policy. EDGEN shall reimburse the Executive, upon the presentation of appropriate receipts, for all reasonable and necessary maintenance, repair and gasoline costs incurred by the Executive in connection with the use of such automobile; provided, that such costs are directly related to the performance by the Executive of his obligations to EDGEN and/or to Parent hereunder; (e) EDGEN shall purchase (subject to the insurability of the Executive at standard rates) a life insurance policy in the amount of $1,000,000 on the life of the Executive to provide benefits under Section 5.2 (b) hereof; and (f) a supplemental payment of $9500 per annum (the “Supplemental Payment”), which shall be paid in accordance with EDGEN’s customary payroll practices which are in effect from time to time during the Employment Term.

  • 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 Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • 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.

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION 1. The following shall apply to employees providing instruction in adult education programs in these districts: Continuing Education employees in the Adult Education High School Completion Program (credit courses) and Adult Education Academic Upgrading Programs (Adult Basic Education, General Education Development, Pre-General Education Development, Literacy and Adult Education English Language Programs). Employees teaching Adult Education academic programs including: High School Completion Program, Pathfinder High School Completion Program, Academic Business Education Program, General Equivalency Diploma Program, Adult Basic Education Program, Adult English as a Second Language Program, and Adult Special Education Program, in the Continuing Education Division.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

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