Common use of EARNED RETIREMENT Clause in Contracts

EARNED RETIREMENT. 11 Upon retirement, on and after January 1, 1994, the employee shall have the 12 following options: 13 (1) Retirement leave may be taken consisting of all accumulated unused 14 vacation (not to exceed 30 days), compensatory time, holiday hours, or 15 personal hours. 16 (2) Retirement leave may be taken , or 17 (3) The employee may elect to receive payment in a lump sum of retirement 18 leave benefits to which he is entitled in par.(1) above on his last day of 19 work. Under this option, the payment to such employee of his County 20 pension and annuity benefits shall be postponed until the total number of 21 retirement leave days for which he has been paid have expired; provided, 22 however, that no employee shall accrue additional benefits during such 23 period. 24 Such retirement payments shall be calculated at the rate of pay in effect for such 25 employee on the last day of work. 26

EARNED RETIREMENT. 11 17 Upon retirement, on and after January 1, 1994, the employee shall have the 12 18 following options: 13 19 (1) Retirement leave may be taken consisting of all accumulated unused 14 20 vacation (not to exceed 30 days), compensatory time, holiday hours, or 15 21 personal hours. 16 22 (2) Retirement leave may be taken , or 17 23 (3) The employee may elect to receive payment in a lump sum of retirement 18 24 leave benefits to which he is entitled in par.(1) above on his last day of 19 25 work. Under this option, the payment to such employee of his County 20 26 pension and annuity benefits shall be postponed until the total number of 21 27 retirement leave days for which he has been paid have expired; provided, 22 28 however, that no employee shall accrue additional benefits during such 23 29 period. 24 30 Such retirement payments shall be calculated at the rate of pay in effect for such 25 31 employee on the last day of work. 26.

EARNED RETIREMENT. 11 23 Upon retirement, on and after January 1, 1994, the employee shall have the 12 24 following options: 13 25 (1) Retirement leave may be taken consisting of all accumulated unused 14 26 vacation (not to exceed 30 days), compensatory time, holiday hours, or 15 27 personal hours. 16 28 (2) Retirement leave may be taken taken, or 17 29 (3) The employee may elect to receive payment in a lump sum of retirement 18 30 leave benefits to which he is entitled in par.(1) above on his last day of 19 31 work. Under this option, the payment to such employee of his County 20 1 pension and annuity benefits shall be postponed until the total number of 21 2 retirement leave days for which he has been paid have expired; provided, 22 3 however, that no employee shall accrue additional benefits during such 23 period. 24 Such retirement payments shall be calculated at the rate of pay in effect for such 25 employee on the last day of work. 26such