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:
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.
Partial Retirement. A faculty member who is eligible for retirement may choose to enter into partial retirement.
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 percentage, 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 leave 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. 2. 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. 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.
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.
