Military Buyback Sample Clauses

Military Buyback. For the term of this 2023-2027 MOU, the parties agree to work on a side letter regarding military buyback that results in no cost to the Fire Authority.
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Military Buyback. For any member wishing to retire as a service retiree with military buyback must pay to the City the actual cost as determined by the City’s actuary of such military buyback. If the employee upon retirement elects the Employee Contribution Withdrawal Option, the employee contribution withdrawal shall be reduced by the amount paid by the employee for the military buyback option excluding any interest earned. The amounts used for this computation will be calculated by the Employer’s actuary using the rate of assumed investment return for immediate annuities as determined and published by the Pension Benefit Guarantee Corporation (PBGC) in effect on the date of retirement.
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Military Buyback. Any current sworn police officer who has served in a branch of the United States Armed Forces (Army, Navy, Air Force, Marines, Coast Guard or Space Force; active call up time only for National Guard or Reserves) prior to becoming a New Haven Police Officer, shall have the opportunity to purchase pension time for each year of active service (1 year of military service – 1 year of service for pension purposes) and have said time credited for pension purposes, up to a maximum of four (4) years. This section is applicable and available to all members as outlined in the Combined Pension Buyback in #9. If a member has already purchased military buyback, they do not need to do so again. There shall be a four-year total cap on military leave buyback. There shall be a one-time six-month window from the ratification of the contract for current employees to apply for this buyback. Once the window has been closed, there shall be no military buyback benefit. New employees have the option for military buyback only in the first six months after their hire.
Sample 1
Military Buyback. Any current sworn police officer who has served in a branch of the United States Armed Forces (Army, Navy, Air Force, Marines, Coast Guard or Space Force; active call up time only for National Guard or Reserves) prior to becoming a New Haven Police Officer, shall have the opportunity to purchase pension time for each year of active service (1 year of military service - 1 year of service for pension purposes) and have said time credited for pension purposes, up to a maximum of four (4) years. This section is applicable and available to all members as outlined in the Combined Pension Buyback in (1) above. If a member has already purchased military buyback, they do not need to do so again. There shall be a four-year total cap on military leave buyback. There shall be a one-time six-month window from the ratification and approval of the contract for current employees to apply for this buyback. Once the window has been closed, there shall be no military buyback benefit. New employees have the option for military buyback only in the first six months after their hire. Employees opting for the buyback shall pay an amount equal to their annual salary at the date of hire times 5%, multiplied by the number of years of credit being purchased. Employees may make this payment in a lump sum or over up to three (3) years by payroll deduction at employee’s option.
Sample 1
Military Buyback. Effective July 1, 1987, an employee may purchase up to four (4) years of Military Service time for service in the Armed Forces of the United States for periods of service, any of which occurred during the periods set forth in Section 27-103 of the General Statutes of the State of Connecticut, at the rate payable at the time of entry into City service, with interest at the rate of seven percent (7%) per annum. The period of such service for which the employee receives credit shall be counted for the purpose of computing the amount of his or her retirement allowance provided such employee shall have completed ten (10) years of continuous service or fifteen (15) years of active aggregate service with the City of Hartford or shall be retired prior thereto, due to disability incurred in the course of his or her employment.
Sample 1

Related to Military Buyback

  • Military Leaves 1. Short Term Military Leaves of Absence (Reserve or National Guard Duty)--Less Than 90 Days Per Calendar Year a. Subject to the terms and conditions provided in subsections 1.b. through 1.d. of this Article, below, employees shall be entitled to time off with pay when they are required to take a leave of absence for: (i) military training duty and/or (ii) military duty in the State of Wisconsin because of riot or civil disturbance.

  • Military Leave An employee will be granted unpaid Military Leave in accordance with the Employment Standards Act. The employee will give as much notice as is reasonably possible and will provide a copy of the Military Notice when received.

  • Military Military leave without pay shall be granted to any employee who is inducted or enlists in any branch of the armed forces of the United States for the period of said service and three (3) months thereafter, or three (3) months after recovery of any wound or sickness at time of discharge. A similar leave shall be granted to the spouse of any employee who is so inducted or enlists.

  • Military Leave of Absence Upon application, a military leave of absence without pay will be granted to employees who are inducted through Selective Service or voluntary enlistment, or those called through membership in the National Guard or reserve component into the Armed Forces of the United States. Credited service for military service shall be determined by the retirement plan.

  • Military Family Leave Employees may use vacation leave for leave as required by the Military Family Leave Act, RCW 49.77 and in accordance with Article 19.13.

  • Military Training Leave An employee who has served with the State of Oregon or its counties, municipalities or other political subdivisions for six (6) months or more immediately preceding an application for military leave, and who is a member of the National Guard or of any reserve components of the armed forces of the United States is entitled to a leave of absence with pay for a period not exceeding fifteen (15) calendar days or eleven (11) workdays in any training year (October 1 through September 30). If the training time for which the employee is called to active duty is longer than fifteen (15) calendar days, the employee may be paid for the first fifteen (15) days only if such time is served for the purpose of discharging an obligation of annual active duty for training in the military reserve or National Guard.

  • Military Caregiver Leave The employer shall grant an employee who is a family member of a covered service member an unpaid leave of up to twenty-six (26) weeks (inclusive of the twelve (12) weeks granted under 1. above) in a single twelve (12) month period to care for the covered service member who has a serious illness or injury incurred in the line of duty on active duty.

  • Military Duty Employees who participate in activities related to the reserve component of the Canadian Armed Forces may be granted leave of absence without pay for this purpose. Such time off will not be unreasonably withheld.

  • Military Leaves of Absence The provisions of the Military and Veterans Code of the State of California shall govern military leave of County employees.

  • Military Service We do not Cover an illness, treatment or medical condition due to service in the Armed Forces or auxiliary units.

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