Early Retirement - Without Discount Sample Clauses

Early Retirement - Without Discount. 1. Effective January 1, 1981 employees with the following age/service combinations may retire early with no loss of accrued benefits: - Age 60 or over with 25 years' service. - Age 59 or over with 26 years' service. - Age 58 or over with 27 years' service. - Age 57 or over with 28 years' service. 2. Employees may retire without discount when their age and years of continuous service equals 82 or more. 3. Employees who do not qualify for an unreduced early retirement pension under 14.2.5(1.) or 14.2.5(2.) may retire without discount after completing 35 years of continuous service. 55 15 55 25 50 25 56 12 56 22 51 22 57 9 57 19 52 19 58 6 (0)* 58 16 53 16 59 3 (0)* 59 13 54 13 60 0 60 10 55 10 61 0 61 8 56 8 62 0 62 6 57 6 63 0 63 4 58 4 65 Normal Retirement 65 Normal Retirement 60-65 Normal Retirement
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Early Retirement - Without Discount. 1. Rule of 82 Any member who on the date of retirement is represented by the Power Workers Union may, on or after the first day of the month in which the sum of the member's age in years and years of continuous employment is equal to or greater than eighty two, receive a pension that is 100 percent of the member's earned pension computed in accordance with the rules of the pension plan, in particular, rule 15. 2. Employees who do not qualify for an unreduced early retirement pension under 10.2.5(1.) or 10.2.5(2.) may retire without discount after completing 35 years of continuous service.
Sample 1Sample 2
Early Retirement - Without Discount. (i) Rule of 82 (ii) Employees who do not qualify for an unreduced early retirement pension under
Sample 1Sample 2
Early Retirement - Without Discount. 1. Rule of 82 2. Employees who do not qualify for an unreduced early retirement pension under 14.2.5(1.) or 14.2.5(2.) may retire without discount after completing 35 years of continuous service. Early Retirement Discounts Table 1 Table 2 Table 3 All employees with 25 or more years’ continuous service (except females hired prior to 1976) All employees with 15 or more but less than 25 years’ continuous service (except females hired prior to 1976) Female employees hired prior to 1976 with 15 or more years’ continuous service Age Percent Discount Age Percent Discount Age Percent Discount 55 15 55 25 50 25 56 12 56 22 51 22 57 9 57 19 52 19 58 6 58 16 53 16 59 3 59 13 54 13 60 0 60 10 55 10 61 0 61 8 56 8 62 0 62 6 57 6 63 0 63 4 58 4 64 0 64 2 59 2 65 Normal Retirement 65 Normal Retirement 60-65 Normal Retirement
Sample 1
Early Retirement - Without Discount. 1. Rule of 82 Effective July 1, 2000, any member who on the date of retirement is represented by the Power Workers Union may, on or after the first day of the month in which the sum of the member's age in years and years of continuous employment is equal to or greater than eighty two , receive a pension that is 100 percent of the member's earned pension computed in accordance with the rules of the pension plan, in particular, rule 15. 2. Employees who do not qualify for an unreduced early retirement pension under 14.2.5(1.) or 14.2.5(2.) may retire without discount after completing 35 years of continuous service. Early Retirement Discounts Table 1 Table 2 Table 3 All employees with 25 or more years’ continuous service (except females hired prior to 1976) All employees with 15 or more but less than 25 years’ continuous service (except females hired prior to 1976) Female employees hired prior to 1976 with 15 or more years’ continuous service Age Percent Discount Age Percent Discount Age Percent Discount 55 15 55 25 50 25 56 12 56 22 51 22 57 9 57 19 52 19 58 6 58 16 53 16 59 3 59 13 54 13 60 0 60 10 55 10 61 0 61 8 56 8 62 0 62 6 57 6 63 0 63 4 58 4 64 0 64 2 59 2 65 Normal Retirement 65 Normal Retirement 60-65 Normal Retirement The above factors apply to employees who do not otherwise qualify for undiscounted early retirement pension.
Sample 1
Early Retirement - Without Discount. Rule of 82 Effective July 1, 2000, any member who on the date of retirement is represented by the Power Workers Union may, on or after the first day of the month in which the sum of the member's age in years and years of continuous employment is equal to or greater than eighty two , receive a pension that is 100 percent of the member's earned pension computed in accordance with the rules of the pension plan, in particular, rule 15.
Sample 1
Early Retirement - Without Discount. 1. Effective J anuary 1, 1981 employees with the following age/service combinations may retire early with no loss of accrued benefits: - Age 60 or over with 25 years' service. - Age 59 or over with 26 years' service. - Age 58 or over with 27 years' service. - Age 57 or over with 28 years' service. 2. Employees may retire without discount when their age and years of continuous service equals eighty-two (82) or more.
Sample 1
AutoNDA by SimpleDocs
Early Retirement - Without Discount. Rule of Effective July any member who on the date of retirement represented by the Power Workers Union may, on or after the first day of the month in which the sum of the member's age in years and years of continuous employment is equal to or greater than eighty two receive a pension that is percent of the member's earned pension computed in accordance with the rules of the pension plan, in particular, rule Employees who do not qualify for an unreduced early retirement pension under (e) or (e) may retire without discount after completing years of continuous service. Table Table Table All employees with or more years' continuous service (except females hired prior to 1976) All employees with or more but less than years' continuous service (except females hired prior to 1976) Female employees hired prior to with or more years' continuous service Percent Discount Percent Discount Percent Discount Employees with or more years' continuous service are eligible for the rule of at age or greater. I57 Normal Normal
Sample 1
Early Retirement - Without Discount 
Sample 1Sample 2

Related to Early Retirement - Without Discount

  • 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 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 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.

  • 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 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 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).

  • Mandatory Retirement Retirement shall be mandatory only to the extent required by law.

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

  • 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.

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