Common use of Other Early Retirement Clause in Contracts

Other Early Retirement. A member retiring on or after January 1, 2012 and after having attained age 55, with two years of credited service, but prior to having qualified for Special Early Retirement is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement reduced by a factor of one-third (1/3) percent for each month he is under Age 65 when his pension commences. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension all determined as of the member's actual date of retirement. The lifetime supplement so calculated will then also be reduced by a factor of one third (1/3) percent for each month the member is under Age 65 when his pension commences.

Other Early Retirement. A member retiring on or after January 1April 21, 2012 1991 and after having attained age 55, with two years of credited service, 55 but prior to having qualified for Special Early Retirement is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement reduced by a factor of one-third of 1% per month (1/3i.e. 4% per year) percent for each month he is under Age 65 when by which his pension commencesretirement precedes age 65. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension pension all determined as of the member's actual date of retirement. The lifetime supplement so calculated will then also be reduced by a factor one-third of one third 1% per month (1/3i.e. 4% per year) percent for each month the member is under Age 65 when by which his pension commencesretirement precedes age 65.

Other Early Retirement. A member retiring on or after January 1, 2012 2019 and after having attained age 55, with two years of credited service, but prior to having qualified for Special Early Retirement is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement reduced by a factor of one-third (1/3) percent for each month he is under Age 65 when his pension commences. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension all determined as of the member's actual date of retirement. The lifetime supplement so calculated will then also be reduced by a factor of one third (1/3) percent for each month the member is under Age 65 when his pension commences.

Other Early Retirement. A member retiring on or after January 1, 2012 1988 and after having attained age 55, with two years of credited service, 55 but prior to having qualified for Special Early Retirement or 85 point retirement is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement reduced by a factor of one-third of 1% per month (1/3i.e. 4% per year) percent for each month he is under Age 65 when his pension commencesretirement precedes age 65. In addition, such member shall be entitled to a lifetime supplement calculated as if If the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, service the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum Pension pension all determined as of the member's ’s actual date of retirement. retirement The lifetime supplement so calculated will then also be reduced by a factor one-third of one third 1% per month (1/3i.e. 4% per year) percent for each month the member is under Age 65 when his pension commences.retirement precedes age 65