General Retirement Provisions Sample Clauses

General Retirement Provisions. Paragraphs 1 through 9 below of this Article reflect the Parties’ agreement regarding retirement contributions and benefits resulting from prior negotiations.
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General Retirement Provisions. For purposes of this Appendix A to the Classified Administrator Employment Agreement: (1) an employee’s date of hire is their first date of employment in a position qualifying for District-paid health insurance regardless of position classification; and (2) an employee’s years of service shall be calculated on the basis of years served in a position qualifying for District-paid health insurance. In no event shall the District provide a higher benefit level of coverage for any retired administrative employee than the District provides for actively employed administrative employees. At the time of retirement, administrative retirees shall be entitled to enroll in District dental and vision on the same terms as apply to active administrative employees, except the retiree shall pay the entire premium. The retiree may only maintain such coverage thereafter so long as they remain continuously enrolled. If a retiree enrolls in District health, dental or vision insurance coverage requiring retiree payment of any portion of the premium, the retiree shall pay their annual portion of the premium in advance, on such terms as the District specifies, as a condition of enrollment or continued enrollment in such coverage. (Rev. 07/01/17)

Related to General Retirement Provisions

  • Life Insurance Upon Retirement An employee who retires from the service with a Company pension at or after age 65 will be provided a $7,000.00 death benefit. If retirement on pension is earlier than age 65 and an employee's term life insurance is extended to age 65, the death benefit will be provided at age 65.

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.

  • 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.

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