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. 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
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

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

  • 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 tenured employee who 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.

  • Extended Military Leave 1. Extended military leave shall be granted to an employee who enlists or is ordered into active duty in the United States Armed Forces or a reserve component or who is ordered into active Federal military duty as a member of the National Guard or Naval Militia. Such leave shall be granted for active-duty service of any length or for active-duty training in excess of 180 days.

  • 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 Leave With Pay Any employee who shall be a member of the National Guard, the Naval Militia or any other component of the militia of the state, now or hereafter organized or constituted under state or federal law, or who shall be a member of the Officers Reserve Corps, the Enlisted Reserve Corps, the Naval Reserve, the Marine Corps Reserve or any other reserve component of the military or naval force of the United States, now or hereafter organized or constituted under federal law, shall be entitled to leave of absence from employment without loss of pay, seniority status, efficiency rating, vacation, sick leave or other benefits for all the time when such employee is engaged with such organization or component in training or active service ordered or authorized by proper authority pursuant to law, whether for state or federal purposes, provided that such leave shall not exceed a total of fifteen (15) days in any calendar year and further provided that such leave shall be allowed only in case the required military or naval service is satisfactorily performed, which shall be presumed unless the contrary is established. Such leave shall not be allowed unless the employee 1) returns to his/her position immediately upon being relieved from such military or naval service and not later than the expiration of time herein limited for such leave; or 2) is prevented from so returning by physical or mental disability or other cause not due to such employee’s own fault; or 3) is required by proper authority to continue in such military or naval service beyond the time herein limited for such leave. Any employee who is a member of the armed forces or National Guard and who is called to active duty may be eligible for pay continuation pursuant to the requirements of M.S. §471.975.

  • 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 federal fiscal year. 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 eleven (11) 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 Reserve a. All permanent employees of the Commonwealth who are members of reserve components of the Armed Forces of the United States shall be entitled to military leave with compensation for all types of training duty ordered or authorized by the Armed Forces of the United States. Such training duty may either be active or inactive duty training and shall include but is not limited to:

  • 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.

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