Early Retirement Options. Prior to issuing notice of layoff pursuant to the notice of layoff provision in this collective agreement, in any classification(s), the Employer will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classifications) who would otherwise receive notice of layoff under the notice of lay-off provision in this collective agreement. An employee who elects an early retirement option shall receive, following the completion of the last day of work, a retirement allowance of two (2) week’s pay for each year of service, to a maximum of fifty-two (52) weeks on the basis of the employee’s normal weekly earnings. A Full Time employee who elects this early retirement option and have not yet reached age 65 and who are in receipt of the Employer’s pension plan benefits and who at the time of electing this early retirement option are enrolled in the Employers benefit plan shall be provided equivalent coverage to that provided to other full time employees on the same basis as is provided to active employees for semi-private, extended health and dental benefits as defined in the collective agreement. The Employer will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Employer to the billed premiums of active employees. The employee will arrange with and provide the Employer either preauthorized payments or other arrangement suitable to the Employer and employee Those employees who received termination payments from the Government of Ontario at the date of transfer to Employer will receive termination payments only for their actual years of service with Employer. Note: The Employer may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.
Early Retirement Options. The retirement may take the form of one of or a combination of the following systems or of other systems agreeable to both parties:
Early Retirement Options. This letter confirms our discussions should the company implement an early retirement provision without penalty at age 62 for other Metroland (non-union) staff during the term of this agreement, then that improvement will be extended to the bargaining unit(s). Yours truly, Xxxx Xxxxxxxxx Vice President, Human Resources Metroland Media Group Ltd. April 5, 2017 Mr. Xxxx Honywill Local Representative Unifor Local 87-M Southern Ontario Newsmedia Guild 0000 Xxxxx Xx., Xxxx Xxxxxxx, XX X0X 0X0 Dear Mr. Honywill:
Early Retirement Options. All STRS early retirement options available in Board policy will be applicable to faculty members in the same manner as management personnel.
Early Retirement Options. During the life of this agreement the District board may, at its sole discretion, design and offer an early retirement program to ESP employed by the Board who have worked a minimum of fifteen (15) years within the School District. The early retirement program will only be available to the ESP if the School Board affirmatively votes to adopt an early retirement program to be applicable for any given school year.
Early Retirement Options. The District shall provide a voluntary Early Retirement Plan for teachers between the ages of 55 and 65 70.
Early Retirement Options. At the time of early retirement, qualified unit members may elect one of the three following retirement options if applicable.
Early Retirement Options. 1. Effective January 1, 2007, the Pension Plan shall be modified to provide for a vested benefit of 50% of final salary after 20.5 years of service, to be received upon reaching normal retirement age without pro-ration of the benefit under certain conditions. The retiring officer shall have the option to continue to make contributions to the Retirement Plan until reaching age 50 and have the pension benefit based upon the final average salary the officer would have attained at the age 50, or to cease contributions and to receive a pension at age 50 calculated using the salary earned at the time of leaving employment. Officers hired after January 1, 2015, shall be eligible for this option, except that they must continue to make contributions to the Retirement Plan until reaching the age of 55 and have the pension benefit based upon the final average salary the officer would have attained at the age of 55, or cease contributions and to receive a pension at age 55 calculated using the salary earned at the time of leaving employment.
Early Retirement Options. A. Program Number One:
Early Retirement Options a) Attainment of age with at least years of Credited Service. Attainment of age with years of Credited Service, (to be modified to age at the start of the last year of the agreement). Attainment of age with age plus service equal to or more. In the event of a partial or complete plant closure, employees who attain age with or more years of credited service, shall be entitled to retire with their normal and supplementary benefits unreduced on account of age.
