Formula Change for Calculation of SDCERS Monthly Retirement Benefit Sample Clauses

Formula Change for Calculation of SDCERS Monthly Retirement Benefit. The Retirement Calculation Factor to be applied to the Police Safety Member’s Final Compensation, as defined in Municipal Code section 24.0103, at specified ages may be increased from the current levels to those shown below for all retirements effective on or after July 1, 2000, if the Police Safety Member selects this option. Retirement Age Factor effective 1/01/97-6/30/00 [Current] Factor effective 07/01/00 [New] 50 2.50% 3.00% 51 2.60% 3.00% 52 2.70% 3.00% 53 2.80% 3.00% 54 2.90% 3.00% 55+ 2.99% 3.00% Member Option: Pursuant to the class action settlement, a Police Safety Member hired before July 1, 2009, may choose, upon application for retirement, one of the following two options:
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Formula Change for Calculation of SDCERS Monthly Retirement Benefit. The Retirement Calculation Factor to be applied to the Fire Safety Member’s Final Compensation, as defined in Municipal Code section 24.0103, at specified ages may be increased from the current levels to those shown below for all retirements effective on or after July 1, 2000 if the Fire Safety Member selects this option. Retirement Age Retirement Calculation Factor Effective 1/1/1997 – 6/30/2000 [Current] Retirement Calculation Factor Effective 7/1/2000 [New] 50 2.50% 3.00% 51 2.60% 3.00% 52 2.70% 3.00% 53 2.80% 3.00% 54 2.90% 3.00% 55+ 2.9999% 3.00%
Sample 1Sample 2
Formula Change for Calculation of SDCERS Monthly Retirement Benefit. The Retirement Calculation Factor to be applied to the Lifeguard Member’s high one year salary at specified ages may be increased from the current levels to those shown below for all retirements effective on or after July 1, 2000 if the Lifeguard Member selects this option. Retirement Calculation Retirement Calculation Retirement Age Factor Factor effective 7/01/00 effective 1/01/97-6/30/00 (Current) (New) 50 2.50 3.00% 51 2.60 3.00% 52 2.70 3.00% 53 2.80 3.00% 54 2.90 3.00% 55+ 2.99% 3.00% Member Option: Pursuant to the class action settlement, a Lifeguard Member may choose, upon application for retirement, one of the following two options:
Sample 1Sample 2
Formula Change for Calculation of SDCERS Monthly Retirement Benefit. The Retirement Calculation Factor to be applied to the Fire Safety Member’s high one year salary at specified ages may be increased from the current levels to those shown below for all retirements effective on or after July 1, 2000 if the Fire Safety Member selects this option. Retirement Age Retirement Calculation Factor effective Retirement Calculation Factor effective 1/01/97-6/30/00 [Current] 7/01/00 [New] 50 2.50% 3.00% 51 2.60% 3.00% 52 2.70% 3.00% 53 2.80% 3.00% 54 2.90% 3.00% 55+ 2.9999% 3.00% Member Option: Pursuant to the class action settlement, a Member may choose, upon application for retirement, one of the following two options:
Sample 1Sample 2
Formula Change for Calculation of SDCERS Monthly Retirement Benefit. The Retirement Calculation Factor to be applied to the Police Safety Member’s high one year salary at specified ages may be increased from the current levels to those shown below for all retirements effective on or after July 1, 2000, if the Police Safety Member selects this option. Retirement Age Factor effective 1/01/97- 6/30/00 [Current] Factor effective 07/01/00 [New] 50 2.50% 3.00% 51 2.60% 3.00% 52 2.70% 3.00% 53 2.80% 3.00% 54 2.90% 3.00% 55+ 2.99% 3.00% Member Option: Pursuant to the class action settlement, a Police Safety Member may choose, upon application for retirement, one of the following two options:
Sample 1
Formula Change for Calculation of SDCERS Monthly Retirement Benefit. 1. The Retirement Calculation Factor to be applied to the Lifeguard Member’s high one year salary at specified ages may be increased from the current levels to those shown below for all retirements effective on or after July 1, 2000, if the Lifeguard Member selects this option. Retirement Calculation Retirement Age Factor Retirement Calculation Factor effective 7/01/00 effective 1/01/97-6/30/00 (Current) (New) 50 2.50% 3.00% 51 2.60% 3.00% 52 2.70% 3.00% 53 2.80% 3.00% 54 2.90% 3.00% 55+ 2.99% 3.00%
Sample 1

Related to Formula Change for Calculation of SDCERS Monthly Retirement Benefit

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Predetermination of Benefits If charges for a planned course of treatment by a licensed dentist would exceed $300.00, proposed details and x-rays should be submitted to the Plan Administrator for approval. Failure to do so may result in a payment of a lesser benefit amount because of the difficulty in determining the need for such treatment after it has been provided. Dental x-rays will be promptly returned to the dentist.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

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