Eligibility for DROP Sample Clauses

Eligibility for DROP. A Participant (i) who is a Transit Police Official or who is classified as a PO 3, Step 10, and (ii) who has completed at least 27 years of Credited Service may voluntarily elect, pursuant to this Section 4.06, to retire for purposes of calcu- lating his or her Normal Retirement Pension under Article 4, continue working as a Transit Police Officer for a period of up to 3 years, and defer commencement of his or her Normal Retirement Pension until his or her DROP Retirement Date. The deferred benefit will be credited to the Participant’s DROP Account and credited with interest in accordance with Section 4.06(e). In order for the DROP Election to be effective, the eligible Participant must complete and execute an election and release on a form supplied by the Board of Trustees, and such election and release must be valid and binding on the Participant in accordance with its terms. A Participant who does not elect to participate in the DROP in accordance with the provisions of this Section 4.06 when first eligible, may elect to participate at anytime there- after provided the Participant has not terminated employment or become Disabled.
Sample 1
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Eligibility for DROP. A Participant (i) who is a Transit Police Official or who is clas- sified as a PO 3, step 10, and (ii) who has completed at least 27 years of Credited Service may voluntarily elect, pursuant to this Section 4.06, to retire for purposes of calculating his or her Normal Retirement Pension under Article 4, continue working as a Transit Police Officer for a period of up to 3 years, and defer com- mencement of his or her Normal Retirement Pension until his or her DROP Retirement Date. The deferred benefit will be credited to the Participant’s DROP Account and credited with interest in accordance with Section 4.06(e). In order for the DROP Election to be effective, the eligible Participant must complete and exe- cute an election and release on a form supplied by the Board of Trustees, and such election and release must be valid and binding on the Participant in accordance with its terms. A Participant who does not elect to participate in the DROP in accordance with the provisions of this Section 4.06 when first eligible, may elect to participate at any- time thereafter provided the Participant has not terminated employment or be- come Disabled.
Sample 1

Related to Eligibility for DROP

  • Eligibility for Benefits A member will not be eligible to receive Long Term Disability benefits until their Income Protection benefits have expired.

  • Eligibility for Pay An employee granted military leave for emergency National Guard duty is entitled to receive regular University pay for a period not to exceed thirty (30) calendar days in any one (1) fiscal year. An employee is eligible for pay regardless of the length of University service, and such pay is in addition to any University payment for temporary military leave for active-duty training, extended military leave, and military leave for physical examinations.

  • Eligibility for Promotion An employee in the classification of Police Officer must have a minimum of five (5) years service in the classification of Lincoln Police Officer as of March 1 of the testing year to be eligible to test for the classification of Sergeant.

  • Eligibility for Leave All regular full-time employees shall be eligible for paid leave. Further, all regular part-time employees shall receive paid leave on a ration of paid leave time accrued to the number of hours worked in the work week. All non-regular part-time, temporary, and seasonal employees will not be eligible to receive paid leave.

  • Eligibility for Membership Membership in the Sick Leave Bank shall be extended to any certificated employee of the School District who has accumulated one (1) day of personal sick leave as defined by Idaho Code 33-1216 and 33-1217.

  • Eligibility for Sick Leave Subject to the provisions herein, employees and officers (hereinafter called "employees") who are absent from their duties because of illness or disability are eligible for sick leave.

  • Eligibility for Payment a) i) Except in the case of a disability arising out of an accident, an employee shall be eligible to receive an amount of disability benefit in accordance with Section 3 hereof, for a period not exceeding 52 weeks for any one illness, beginning after three (3) continuous days from the commencement of the disability, or beginning on the first day of hospital confinement as a bed patient, if earlier.

  • ELIGIBILITY FOR SERVICES The COUNTY shall determine eligibility for receiving services under this agreement.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

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