PENSION BENEFIT AT RETIREMENT Sample Clauses

PENSION BENEFIT AT RETIREMENT. Your benefit at retirement on contributions, that include accumulated credited interest, made prior to April 1, 2003 by you and the Company on your behalf, will be used to purchase a life annuity. Your benefit at retirement on contributions, that include accumulated credited interest, made April 1, 2003 forward by you and the Company on your behalf, to the Registered Retirement Savings Plan (RRSP), can be taken in cash (less tax), transferred to another RRSP, and/or to purchase a life annuity.
Sample 1Sample 2Sample 3
PENSION BENEFIT AT RETIREMENT. At retirement, an employee's Personal/Sick leave days may be credited as days worked for purposes of pension benefits, pursuant to rules of the Illinois Municipal Retirement Fund. For the purposes of this Section only, employees shall be permitted to accrue Personal/Sick leave days up to the maximum permitted by IMRF.
Sample 1

Related to PENSION BENEFIT AT RETIREMENT

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!