Early Retirements Clause Samples

The Early Retirements clause allows for the termination or removal of certain obligations, assets, or positions before their originally scheduled end date. In practice, this clause may apply to financial instruments, contracts, or employment agreements, enabling parties to end commitments early under specified conditions, such as mutual agreement or upon the occurrence of certain events. Its core function is to provide flexibility and manage risk by permitting parties to adapt to changing circumstances without waiting for the original term to expire.
Early Retirements. Upon completion of an actual early retirement calculation by the Scheme Administrator which generates a Pension Fund strain cost (otherwise known as a capital cost), the Administering Authority will raise an invoice and issue it to the Scheme Employer requesting payment, within 21 calendar days, of the full capital cost owing to the Pension Fund.
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Early Retirements. As BVFF,I want to process pensions for members who retire early,So they can receive their reduced pension Pass/Fail M ☒ Yes ☐ No now. I'll be satisfied when I can: • Process retirement for a member who is eligible based on the following: - Minimum number of payments and years of service - Reduced pension based on rules Business Rules • If member retirement date is before 7.25.99, they are only eligible to retire at age 60, 62, and 65 • Early Retirement Percentages: - 60% at age 60 - 68% at age 61 - 76% at age 62 - 84% at age 63 - 92% at age 64 • 100% at age 65 8.12 Joint Survivor As BVFF,I want to process joint/survivor pensions for members,So they can receive a reduced pension for them and their spouse. I'll be satisfied when I can: • Process a pension for a member who has chosen joint/survivor option • Have the system automatically calculated the reduced pension based on business rules Business Rules: • Member must be active after 7/1/89 to be eligible • Refer to actuarial joint/survivor factors Pass/Fail M ☒ Yes ☐ No
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Early Retirements. Upon completion of an early retirement calculation, the Administering Authority will provide to the Employing Authority, within 10 working days, details of the final capital costs to be paid by the Employing Authority to the Fund.
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Early Retirements 
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Related to Early Retirements

  • 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 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 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.