Minimum Retirement Qualification Sample Clauses

Minimum Retirement Qualification. The minimum amount of years of service to qualify for retirement is 23 years of service with no minimum age required. Employees hired after July 1, 2011: The minimum required amount to qualify for retirement is 25 years of service with 50 years of age or age 60 with no minimum years of service. These employees are vested after ten (10) years of service or at age 60. Vested members who defer their pension will receive their benefit on the date which they would have had twenty-three (23) years of service (if hired before July 1, 2011) or twenty- five years of service and had attained 50 years of age, or age 60 regardless of years of service (hired on/after July 1, 2011).
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Minimum Retirement Qualification. A. Employees hired prior to July 1, 2011: The minimum amount of years of service to qualify for retirement is 23 years of service with no minimum age required. Employees hired on or after July 1, 2011 (including those hired under the POAM on or after July 1, 2011 and subsequently promoted to this unit): The minimum required amount to qualify for retirement is 25 years of service with 50 years of age or age 60 with no minimum years of service. These employees are vested after ten (10) years of service or at age 60.
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Related to Minimum Retirement Qualification

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Pre-Retirement Counseling Leave ‌ After reaching earliest retirement age, each employee shall be granted up to three and one-half (3-1/2) days leave with pay to pursue bona fide pre-retirement counseling programs. Employees shall request the use of leave provided in this Article at least five (5) days prior to the intended date of use. Authorization for use of pre-retirement counseling leave shall not be withheld unless the Appointing Authority determines that the use of such leave will handicap the efficiency of the employee's work unit. When the dates requested for pre-retirement leave cannot be granted for the above reason, the Agency shall offer the employee a choice from three (3) other sets of dates. The leave herein discussed may be used to investigate and assemble the employee's retirement program, including PERS, Social Security, insurance and other retirement income.

  • Pension Contributions While on Short Term Disability Contributions for OMERS Plan Members When an employee/plan member is on short-term sick leave and receiving less than 100% of regular salary, the Board will continue to deduct and remit OMERS contributions based on 100% of the employee/plan member’s regular pay.

  • 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.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

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