Early Retirement Incentive and Reduction Sequence Sample Clauses

Early Retirement Incentive and Reduction Sequence a) Where it is deemed possible to offset the impact of the Reduction Sequence (Article 10.5.
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Early Retirement Incentive and Reduction Sequence a) Where it is deemed possible to offset the impact of the Reduction Sequence (Article 10.5.3.3) through the offering of early retirement incentive to a faculty member (who qualifies as per Article 22.1 above), an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through layoff or transfer of another regular faculty member. b) Such offers may be made at any time during the year and need not be part of the exercise described in Article 22.3 a) above. c) Notwithstanding the possibility of effecting an early retirement, advance notification of layoff or transfer pursuant to Article 10.5.
Sample 1Sample 2Sample 3See All (4)
Early Retirement Incentive and Reduction Sequence a) Where it is deemed possible to offset the impact of Article 11.4
Sample 1Sample 2Sample 3
Early Retirement Incentive and Reduction Sequence. Where it is deemed possible to offset the impact of the Reduction Sequence (Article 11) through the offering of early retirement incentive to an instructor (who qualifies as per Article an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through layoff or transfer of another regular instructor. Such offers may be made at any time during the year and need not be part of the exercise described in Article Notwithstanding the possibility of effecting an early retirement, advance notification of layoff or transfer pursuant to Article (Instructor Reduction, Severance Pay, and Recall) may be given to the affected regular instructor while the instructor to whom early retirement has been offered is considering that offer.
Sample 1
Early Retirement Incentive and Reduction Sequence. Incentive Alternatives and Method of Incentive Payment.. ............... Protection of Medical Benefit Coverage .............................................. Financial Counselling ..........................................................................
Sample 1
Early Retirement Incentive and Reduction Sequence. Where it is deemed possible to offset the impact of the Reduction Sequence (Article through the offering of early retirement incentive to an instructor (who qualifies as per Article an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through layoff or transfer of another regular instructor. Such offers may be made at any time during the year and need not be part of the exercise described in Article Notwithstanding the possibility of effecting an early retirement, advance notification of layoff or transfer pursuant to Article may be given to the affected regular instructor while the instructor to whom early retirement has been offered is considering that offer.
Sample 1
Early Retirement Incentive and Reduction Sequence. Where it is deemed possible to offset the impact of Article 11.4 Reduction Sequence through the offering of early retirement incentive to an employee (who qualifies as per Article 22.1 Eligibility), an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through layoff or transfer of another regular employee.
Sample 1
AutoNDA by SimpleDocs
Early Retirement Incentive and Reduction Sequence. Where it is deemed possible to offset the impact of the reduction sequence (clause 20.03) through the offering of an early retirement incentive to an employee who qualifies in accordance with subsection 20.01(3)(ii), an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through layoff or transfer of another full-time continuing employee.
Sample 1

Related to Early Retirement Incentive and Reduction Sequence

  • 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.

  • 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.

  • Sick Leave Credit-Based Retirement Gratuities 1) A Teacher is not eligible to receive a sick leave credit gratuity after August 31, 2012, except a sick leave credit gratuity that the Teacher had accumulated and was eligible to receive as of that day. 2) If the Teacher is eligible to receive a sick leave credit gratuity, upon the Teacher’s retirement, the gratuity shall be paid out at the lesser of, a) the rate of pay specified by the board’s system of sick leave credit gratuities that applied to the Teacher on August 31, 2012; and b) the Teacher’s salary as of August 31, 2012. 3) If a sick leave credit gratuity is payable upon the death of a Teacher, the gratuity shall be paid out in accordance with subsection (2). 4) For greater clarity, all eligibility requirements must have been met as of August 31, 2012 to be eligible for the aforementioned payment upon retirement, and the Employer and Union agree that any and all wind-up payments to which Teachers without the necessary years of service were entitled to under Ontario Regulation 01/13: Sick Leave Credits and Sick Leave Credit Gratuities, have been paid. 5) For the purposes of the following boards, despite anything in the board’s system of sick leave credit gratuities, it is a condition of eligibility to receive a sick leave credit gratuity that the Teacher have ten (10) years of service with the board: i. Near North District School Board ii. Avon Maitland District School Board iii. Xxxxxxxx-Xxxxxxxxx District School Board

  • 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.

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year prior to the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the previous year, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the previous year. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly. b) To be eligible, an employee must submit an irrevocable notice of retirement by February 1st which must be accompanied by a Teachers’ Retirement System (TRS) member requested “Personal Statement of Benefits” and a “Benefit Estimate” confirmation of total years of service. An employee with ten (10) years of full-time service with Neoga C.U.S.D. No. 3 is considered to be eligible for the retirement incentive by meeting one of the following conditions at the time of retirement: 1) The employee is sixty (60) years of age and has ten (10) years of creditable TRS service. 2) The employee is at least fifty-five (55) years of age and has thirty- five (35) years of creditable TRS service. c) If, during the term of this Agreement, any legislation and/or TRS rules/regulations are enacted or not reenacted and/or adopted or amended that result in a greater cost to the District than the costs generated by this Agreement, or that change the definition of what is subject to the 6% TRS cap, the parties agree that this Section shall be null and void and upon the demand of any party shall meet to bargain language to succeed this paragraph.

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

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

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