EARLY RETIREMENT BRIDGE BENEFIT Sample Clauses

EARLY RETIREMENT BRIDGE BENEFIT. OUTSIDE THE PENSION PLAN – CUPE 3261 Available to members who retire with an Unreduced Early Retirement Pension under the 60/80 provision of the Plan Effective for retirements on or after December 31, 2017 up to and including March 31, 2020. Member can elect, prior to retirement, to take the Bridge Benefit in the form of: - A monthly payment on the 28th of each month from date of Early Retirement up to and including the month prior to the member's 65th birthday; OR - A lump sum retiring allowance at the date of early retirement, tax sheltered to the extent possible under the provisions of the Income Tax Act
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EARLY RETIREMENT BRIDGE BENEFIT. Subject to Section 7.10, a Member who retires early pursuant to Section 6.02 and after attaining age 55 and completing 20 years of Continuous Service shall receive a monthly bridge benefit payable to the earlier of the first day of the month following the attainment of age 65 or the first day of the month following the date of death of the Member, calculated as follows:
Sample 1

Related to EARLY RETIREMENT BRIDGE BENEFIT

  • 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 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.

  • Benefits on Early Retirement The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age 65 and who are in receipt of the Hospital’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Hospital to the billed premiums of active employees.

  • Early Retirement Option The District may offer an early retirement incentive for unit members.

  • 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.

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

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

  • 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.

  • 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.

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

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