Common use of Minimum Retirement Qualification Clause in Contracts

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).

Minimum Retirement Qualification. The Effective December 31, 1989, the minimum amount of years of service and age to qualify for retirement is 23 shall be twenty-three (23) full years of service service, with no minimum age required. Employees hired after Additionally, effective July 1, 2011: The 1991, the minimum required amount of years of service and age to qualify for retirement shall also be age fifty-five (55) and ten (10) or more full years of service. The minimum retirement qualification for employees hired on or after November 14, 2011 is 25 years of service with 50 years of age 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).