Employees’ Retirement System. Employees who are hired after July 1, 2007 will be eligible at the time of retirement and who has a minimum of fifteen (15) consecutive years of service with the Jamesville-Xxxxxx School District, may continue in the Health Insurance Program provided that he/she actually and officially retires as per the requirements established by the N.Y.S.
Employees’ Retirement System. All new employee hired after July 1, 2007, must have 15 years of service to qualify for the health and sick leave benefits.
Employees’ Retirement System. A surviving spouse may continue coverage in accordance with the provisions of the COBRA enactment.
Employees’ Retirement System. An employee retiring during the term of this Agreement may continue in the Health Insurance Program at the level he/she had during his/her final year of employment.
Employees’ Retirement System. A unit member retiring may continue in the Health Insurance Program at the level he/she had at the time of his/her retirement.
Employees’ Retirement System. The parties agree that the City will maintain the current benefit provisions of the Employees' Retirement System (ERS), Ordinance No. 986-A, as amended, for the duration of this agreement.
Employees’ Retirement System. Effective July 1,2008 any new employees must have a minimum of fifteen
Employees’ Retirement System. Unit employees, hired after July 1 ,2007 , will need a minimum of fifteen (15) consecutive years of service with the Jamesville-Xxxxxx School District to qualify for the benefits of B.1 of this article.
Employees’ Retirement System. 1. Except as specifically modified in this Contract, the provisions of the Charter of the City of Oak Park dealing with the applicable ordinances of the City of Oak Park, Chapter 55, Article II, Employee’s Retirement System shall remain in full force and effect. Provided, however, that individuals who are promoted into this bargaining unit with different retirement benefits than provided for under this Agreement, those benefits will be continued under this Agreement unless the benefits are greater than those being provided to members of this Bargaining Unit.
2. A member is eligible for voluntary retirement if they are a non-covered member (see definition of “non-covered member,” Sec 55-31 (b)(2)), who is at least 50 years old, and has 10 years or more of service credit. Members also have the option and are eligible for retirement after completion of 25 years of service, regardless of age.
3. Employees hired after July 1, 2011 and subsequently promoted into the Command Unit, shall have a 2.5% multiplier and a final average compensation calculated based on their effective base wage rate only. Minimum retirement eligibility will be 25 years of service.
4. A non-covered member must retire at age 62. However, in a time of national emergency, the Council may increase either or both the voluntary retirement age and the mandatory retirement age for any class or classes of members.
5. The City shall cause to be paid to the said Employee’s Retirement System, all sums determined by the City's system actuary necessary to fund the Employee’s Retirement System, together with the Participant’s contribution, at the proper level to provide that each non-covered Participant bargaining unit member's pension would be equal to 2.8% of the Final Average Compensation times the number of years of credited service upon attainment of retirement age.
6. The members of this bargaining unit shall contribute 9.5% of their compensation towards the funding of the Employee’s Retirement System.
7. In no event shall a member’s pension exceed 70% of Final Average Compensation. For members hired by the City on or after July 1, 1984, not more than the value of 650 hours of any accumulated leave will be added into the Final Average Compensation. If any bargaining unit member has more accumulated leave time, it shall be paid in accordance with current procedures but shall not be folded into the Final Average Compensation.
8. All members of the bargaining unit employed on and after July 1, 2000, ...
Employees’ Retirement System. For a unit member that retires prior to Ju n e 30, 2008, the District agrees to contribute at the same rate as paid the last year of active employment.
