Effect on Retirement. The acceptance or rejection of severance pay shall have no effect on vested pension rights under the Retirement Act. The parties agree that the severance payment shall not be included in the computation of compensation for the purpose of calculating retirement benefits and will seek and support statutory change if such legislation is necessary to so provide.
Appears in 11 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Effect on Retirement. The acceptance or rejection of severance pay shall have no 31 effect on vested pension rights under the Retirement Act. The parties agree that the 32 severance payment shall not be included in the computation of compensation for the 33 purpose of calculating retirement benefits and will seek and support statutory 34 change if such legislation is necessary to so provide.
Appears in 1 contract
Samples: Labor Agreement
