Pensioners. (a) All pensioned members of Local 1245 who were retired before February 1, 1978, and who were previously covered by group life insurance shall have premiums paid for by the District to the following extent:
(1) Those who previously elected $1,000 coverage will have $1,000 coverage paid for by the District.
(2) Those who previously elected $4,000 coverage shall have $2,000 coverage paid for by the District. The other $2,000 coverage will have to be paid for by the pensioner.
(3) For those who retired on or after February 1, 1978, the District will pay the premium for $2,000 life insurance coverage.
(4) For those who retire on or after March 1, 2009 the District will pay the premium for $25,000 life insurance coverage.
(5) The District will permit any pensioner to purchase additional $10,000 coverage under the District's Group Life Insurance Policy.
(a) The District will continue the Pension Plan dated January 1, 1913, for all eligible current District employees who retire or leave the District prior to January 1, 1999.
(b) Effective July 1, 2006, the retirement benefits for all eligible IBEW retirees, who retire on or after the aforementioned date, shall be 2% at age 55, 2.25% at age 60 and 2.5% at age 65. Eligibility for said retirement shall be set forth in and established by the AC Transit Employees’ Retirement Plan Document.
(c) Effective January 1, 1999, the District shall amend the AC Transit Employees’ Retirement Plan Document current ten (10) year vesting requirement for IBEW employees to provide a five (5) year vesting requirement for IBEW member employees.
(d) Effective January 1, 1999, the current Retirement Plan Document shall be amended to allow IBEW member employees with five (5) years of service who leave the District (terminated vested employees) after that date, to receive pension benefits at age 55 rather than the current 65 years of age for IBEW members who retire or leave the District prior to January 1, 1999.
Pensioners. The following benefits will apply to employees who retire after April and will continue during the lifetime of the pensioner only:
Pensioners. For pensions according to 1.3, one month’s mutual notice applies.
Pensioners. For pensioners in accordance with Section 1 Item 3, a mutual notice period of one month shall apply.
Pensioners. 1.2 The employee must inform the company when the employee no longer fulfils the criteria for being included in the above-mentioned groups, cf. subsection 1.1, points a-e. The form of employment must be changed within 6 months, by the end of a month, from the date on which the company has become aware that the employee no longer fulfils the criteria for being covered by the above-mentioned groups, cf. subsection 1.1, points a-e.
Pensioners. For salaried employees who have turned 67 or were employed in the company after reaching the applicable ordinary retirement age under the ITP plan, the period of notice is one month for both the employer and the salaried employee.
Pensioners. Ex-Members of Parliament, Sitting Members of Parliament Freedom Fighters, Serving CGHS/DGHS / Ministry of H&FW employees, Such other categories of CGHS cardholders as notified by the Government.
Pensioners. Salaried employees whose average working hours during the year are less than eight hours per week. The collective agreement rules on temporary employment shall also be applied to tem- porary salaried employees who are not otherwise coverd by the collective agreement (see chapter 2, §3).
Pensioners. The annual rate of the qualifying part of the pension entitlement of a pensioner, including any discretionary increases in respect of that part up to the day before the Commencement Date, shall be increased with effect from the Commencement Date by 20 per cent. For this purpose the qualifying part means the whole of the pension but excluding any part of the pension attributable to Additional Voluntary Contributions (whether paid on an added years or money-purchase basis), any pension which only represents Equivalent Pension Benefits and any pension derived from a transfer-in of assets to the Old Plan. The above improvement will be taken into account into calculating benefits for spouses and children. This 20 per cent increase will also apply to the qualifying part of pensions in payment on the Commencement Date to spouses, children and dependants.
Pensioners. The contingent liability of the existing pensioners is to be included in the Scheme, subject to the provision of uniform rates for in-service employees and pensioners. The premiums paid by the existing pensioners on the City schemes are to remain. Provision is to be made for the continuation of existing pensioner spouse cover.
