Partial Retirement. Reduced Work Time: Subject to approval by the District, classified employees may reduce their work assignment from full-time to part-time. If classified employees wish to reduce their work assignment and maintain retirement benefits pursuant to Government Code Sections 20900 and 20905 and Education Code Sections 45139 and 44922, the following regulations shall apply:
a) The employee shall have reached the age of fifty-five (55) prior to reduction in work assignment.
b) The employee shall have been employed in a classified position for at least ten (10) years of which the immediately preceding five (5) years were full-time employment as defined by PERS.
c) During the period immediately preceding a request for a reduction in work assignment, the classified employee shall have been employed full-time in a classified position for a total of at least five (5) years without a break in service. Break shall be defined for purposes of this section as an actual termination of employment.
d) The option of part-time employment shall be exercised at the request of the classified employee and can be revoked only with the mutual consent of the employer and the classified employee. Should the employee elect to return to full-time status, with the District's consent,
e) Employees shall be paid a salary, which is a pro-rated share of the salary he or she would have been earning had he or she not elected to exercise the option of part-time employment. The employee shall retain all other rights and benefits to which he or she was entitled as long as he or she continues to make the payment that would be required if he or she had remained in full-time status.
f) The minimum part-time employment shall be equivalent to one-half (½) of the employee's FTE at the time the employee applies for reduced work assignment.
g) The period of part-time classified employment shall not exceed five
Partial Retirement. 26.01 A full-time employee of the bargaining unit, with permanence, who is eligible for retirement under the CBU Pension Plan and who has a minimum twenty years of service at the University is eligible to apply for partial retirement for a period of up to four (4) years. At the end of the four years period, the Employee will fully retire.
26.02 The workload of an employee who has been approved for partial retirement shall be x% of workload as outlined in Article 44 for x% + 10% of salary. For example:
(a) The workload of an employee with a normal teaching workload of 30-credit hours, taking partial retirement of 60% of the workload shall be 18-credit hours at 70% of salary.
(b) 50% of the workload outlined in Article 44, or full workload for six months of the year commencing either 1 July or 1 January, each year at 60% of salary. Other suggested percentages of workload may be considered where the percentage involved makes logistical sense and shall be compensated accordingly, i.e. x% of workload for x% + 10% of salary.
(a) The Employer and the Employee will continue to make contributions to the Employee’s Pension on the Employee’s prorated salary as in Article 27.01.
Partial Retirement. A faculty member who is eligible for retirement may choose to enter into partial retirement.
31.3.1. Partial retirement involves working with a reduced course load of 0.5 to 2.0 courses per year.
31.3.2. A faculty member who has chosen partial retirement may not normally revert to full-time status. However, a faculty member who has chosen partial retirement and has been employed in that capacity may have their course load changed and remain in partial retirement if the course load change is mutually agreed upon by the faculty member and the Academic Xxxx. The faculty member or the Academic Xxxx may refuse a request for a change in course load for any reason.
Partial Retirement. Members who have accumulated at least years of pensionable service and aged from to inclusive are eligible for Partial Retirement. Members taking partial retirement must sign a formal agreement to retire fully at the end of the period of Partial Retirement. Members may apply for a reduction in workload to a maximum of with proportional reductions in salary. The maximum period of partial retirement is three years and a member must retire fully immediately after this period. The Sabbatical (Article Research (Article 10.39)and leave without clauses (Article 10.35) of the Collective Agreement cease to apply during the period of Partial Retirement. Members will make pension contributions during partial retirement that are based on the received. However, the University will make both its pension contributions based on the members nominal full salary together with the difference between the members actual contributions described above and the contribution that would be required by the members nominal salary. Group and Disability Insurance will be based on the member’s full salary.
Partial Retirement. 1. After their 58th birthday, active members may request the payment of a partial retirement pension if their level of employment is reduced by a minimum of 30%. The degree of retirement corresponds to the reduction of the employment level, subject to Art. 27 paragraph 3.
2. In the case of a partial retirement, the retirement assets shall be divided into two portions according to the degree of retirement.
a. Members are considered as pensioners with respect to the portion that corresponds to their degree of retirement;
b. With respect to the other portion, members are considered active members; the entry threshold and the coordination amount shall be adjusted according to the degree of retirement.
3. Subject to the employer’s agreement, the degree of retirement may be increased one further time by 30% to 40%, however, it may not be reduced.
4. In the case of a maximum of two increases in the degree of retirement, the corresponding retirement benefits may be drawn as a lump-sum payment.
5. If the degree of retirement exceeds 70%, the full retirement benefits are paid.
Partial Retirement. 26.01 A full-time employee of the bargaining unit, with permanence, who is eligible for retirement under the CBU Pension Plan and who has a minimum twenty years of service at the University is eligible to apply for partial retirement for a period of up to four (4) years. At the end of the four years period, the Employee will fully retire.
26.02 The workload of an employee taking partial retirement shall be:
(a) 2/3 of the workload outlined in Article 44 at 75% of salary; or
(b) 50% of the workload outlined in Article 44 or full workload in accordance with Article 44 for six months of the year commencing either 1 July or 1 January each year at 55% of salary.
(a) The Employer and the Employee will continue to make contributions to the Employee’s Pension on the Employee’s prorated salary as in Article 27.01.
Partial Retirement. An employee who has reached age 58 may by mutual agreement with the University be placed for the remainder of his/her service in partial retirement status by having his/her workload and his/her salary reduced by an agreed percentage.
Partial Retirement. An employee who has reached age may by mutual agreement with the Institute be placed for the remainder of service in partial retirement status by having and salary reduced by an agreed If such a reduction is to no less than of a full workload and the employee has no less than years of service in the Institute and is within five years of an entitlement to a full pension shall retain all social security benefits including paid sick Furthermore, subject to the same conditions, under the terms of pension plan and if so requested by the employee, participation such a plan shall be on the basis of a notional pensionable salary which shall be the equivalent of what pensionable salary would have been from time had not had his workload and salary reduced. Contributions to the pension plan and to any ancillary plan related to the pension plan (such as the Superannuation Adjustment Benefits Act) by the Institute and by the employee and the employee's eventual pension benefits shall then be calculated and paid as a function of notional pensionable salary. If an employee has workload and salary reduced but does not meet all the conditions specified in the first sub-paragraph of participation in the social security program shall cease except to the extent to which any particular social security coverage is required by law or can be arranged at the cost. In such a case entitlement to paid sick leave shall be reduced proportion to the reduction workload and salary. If permissible under the terms of pension plan such an employee may also draw a pension during such partial retirement by such a case reduced salary shall be set in such a manner that when added to pension it does not produce a sum which more than higher than what full salary would from time to time be had not been placed in partial retirement status. When an employee's workload is reduced pursuant to paragraphs to above, the rate of accumulation of vacation credit shall be reduced proportionately. Extension of Normal Retirement Notwithstanding the provision of paragraph above, an employee who is nearing age may, by mutual agreement with the Institute, have employment extended beyond this age for a period or--by successive extensions for periods of time up to the end of the month in which reaches age Such an extension or extensions may be on a full workload basis or on a partial retirement basis with workload and salary reduction and conditions foreseen paragraphs and
Partial Retirement. Early Partial Retirement is a permanent reduction in workload of a faculty member as specified in clause and agreed upon between the University and the member. It does not include Reduced Responsibility. A faculty member having a regular appointment with tenure (having ten (IO) years of service and aged fifty-five (55) or over) may apply to the Xxxx for The member shall discuss the application with the Head prior to making same and shall normally make written application not less than one hundred and eighty (180) days prior to the proposed commencement of The Xxxx shall consider the application with the Head in the light of the operational needs of the and the Xxxx shall forward the application with recommendation to the Vice-president, Academic. A copy of the application shall be sent to the President of the Faculty Association. The Vice- President, Academic shall inform the member in writing of the final concerning application for within sixty (60) days of the submission of the member's application. The workload of members on shall be composed primarily of library duties. On this basis, a normal teaching load and associated committee work in two (2) terms with the third (3rd) term free of University responsibilities shall satisfy the workload requirements. Where appropriate, some adjustments of teaching duties to allow for ongoing research activity may be made on an individual basis. The terms of are subject to agreement between the member and the University and shall be set out in writing signed by the member and the Vice- President, Academic, with a copy to the President of the Faculty Association. No member shall be forced to accept but once has been approved a member shall have thirty (30) days from the date of receipt of written approval to either accept or reject the terms of Except where otherwise provided, does not affect a member's status as a full-time regular faculty member with tenure; nor does it affect membership in the bargaining unit. Each member on shall receive the equivalent of sixty-six and two-thirds percent of Nominal Salary as defined in Article Such payment shall include Employment Standards Act vacation entitlement. For members on the calculation of years of qualifying service for sabbatical leave and for seniority in respect of lay-off during the period shall be the said period multiplied by two-thirds The member shall be eligible for travel support and eligible for free tuition in accordance with the provisions of Article G as ...
Partial Retirement. Qualified occupants may be authorized to reduce local employment to a minimum of 15 hours per week on annual basis, if the occupant has worked in Summit County an average of at least 30 hours per week on an annual basis for at least 15 continuous years prior to partial retirement and has owned and occupied that particular deed-restricted housing unit for at least 5 continuous years prior to retirement.
