Common use of Early Retirement Bonus Clause in Contracts

Early Retirement Bonus. Those employees who elect to retire after age 55 but prior to age 60, and have achieved in excess of thirty (30) years service, shall be entitled to a special retirement bonus of five thousand dollars ($5,000) for each year that their total credited service exceeds thirty years, pro-rated for incomplete years.

Appears in 4 contracts

Samples: ufcw832.com, Collective Agreement, ufcw832.com

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!