Early Retirement Election Sample Clauses

Early Retirement Election. Under this Agreement, I am voluntarily electing to end my employment and surrender my appointment rights. I have received the Summary and have reviewed the terms and have made my selection by checking and completing the appropriate section below:  Separation/Lump Sum Payment I wish to terminate my employment and appointment rights on / / (no later than December 31, 2012). I understand that my resignation, if accepted, is irrevocable. (Release #1 must be signed and returned with this Agreement and Release #2 must be signed when the employment ends (my “Separation Date”), and the original must be returned to Human Resources within fifteen (15) days after my Separation Date.) I understand that the Vice president of Finance must approve this Agreement and my date of termination, and that the approval process is not complete until it has been signed by the Vice President of Finance. I further understand that the Agreement is not complete until Release #1 is submitted. I will sign the second Release at the conclusion of my employment (last day of work).
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Early Retirement Election. Under this Agreement, I am voluntarily electing to end my employment and surrender my tenure or appointment rights (if applicable). I have received the Summary and have reviewed the terms of each option and have made my selection by checking and completing the appropriate section below:  Option One: Phased Retirement/Lump Sum (Faculty Only) I wish to commence my phased retirement on / / and to terminate my employment, including my tenure or appointment rights (if applicable), on / / (no later than June 30, 2013). I understand that my resignation, if accepted, is irrevocable. During this period of phased retirement, I understand my appointment will decrease on July 1, 2012 to 50% time and my salary will be reduced to 50% of my current salary. (Release #1 must be signed and returned with this Agreement and Release #2 must be signed at the conclusion of the Phased Retirement period when the employment ends (my “Separation Date”), and the original must be returned to Human Resources within fifteen (15) days after my Separation Date.)
Early Retirement Election. Notwithstanding anything in the Plan to the contrary, a Participant who becomes entitled to a benefit deferred to his Normal Retirement Age under this Article upon a termination of participation may elect to receive an immediate early retirement benefit at any time on and after the date he attains the age required for early retirement as elected in Section 12.02 of the Adoption Agreement and prior to his Normal Retirement Age. A Participant eligible to make an election under this Section may request any optional benefit permitted under Section 12.07. The benefit payable as a result of any election pursuant to this Section will be the benefit which can be provided by the current value of the Participant's Accounts.

Related to Early Retirement Election

  • 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.

  • 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.

  • 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 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 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.

  • 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.

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

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

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