Permanent Incapacity Retirement Sample Clauses

Permanent Incapacity Retirement. Any participant who shall have had at least 10 years of continuous service and who shall have become through some unavoidable cause, permanently incapacitated prior to attaining age 65, and who at such time shall be in the bargaining unit covered by this Plan, shall be eligible to retire on or after the effective date and shall upon his retirement (hereinafter “permanent incapacity retirement”) be eligible for a permanent incapacity benefit. A participant shall be considered to be permanently incapacitated (as “permanently incapacitated” is used herein) only: 8-P
Sample 1
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Permanent Incapacity Retirement. A participant who has at least 15 years of continuous service and who has become permanently and totally incapacitated for at least five consecutive months may retire before age 65 and receive a Regular Pension, so long as he remains totally incapacitated. A Special Payment is not made. If such participant is under the age at which he/she is eligible for a monthly Social Security benefit equal to 80% of the full retirement age Social Security benefit and not eligible for Social Security disability benefits, he will be entitled to receive the $400 increase in pension described on page 58. When he becomes eligible for a monthly Social Security benefit equal to 80% of the full retirement age Social Security benefit or becomes eligible for Social Security disability benefits before the age of said 80% Social Security benefit eligibility, the $400 increase in pension will cease to apply. The Company assumes that a participant retired for permanent incapacity is eligible for Social Security disability benefits unless he informs the Company that he has applied for and been denied such disability benefits.
Sample 1
Permanent Incapacity Retirement. 2.5 Any participant who shall have had at least 15 years of continuous service and who shall have become permanently incapacitated shall be eligible to retire on or after October 1, 2018, and shall upon his retirement (hereinafter “permanent incapacity retirement”) be eligible for a pension. A participant shall be considered to be permanently incapacitated (as “permanently incapacitated” is used herein) only (a) if he has been totally disabled by bodily injury or disease so as to be prevented thereby from engaging in any employment of the type covered by the Basic Agreement, and (b) after such total disability shall have continued for a period of five consecutive months and, in the opinion of a qualified physician, it will be permanent and continuous during the remainder of his or her life. Incapacity contracted, suffered or incurred while the participant was engaged in, or resulted from his having engaged in, a criminal enterprise, or resulting from future service in the armed forces and which prevents him or her from returning to employment with the Company and for which he or she received a military pension, shall not entitle a participant to a pension under this paragraph
Sample 1

Related to Permanent Incapacity Retirement

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Permanent Disability Permanent Disability" shall mean Employee's physical or mental incapacity to perform his or her usual duties with such condition likely to remain continuously and permanently as determined by Employer.

  • Total Disability (a) Total disability, as used in this Plan, means the complete inability because of an accident or sickness of a covered employee to perform all the duties of his/her own occupation for the first two (2) years of disability. Thereafter, employees able by reason of education, training or experience to perform the duties of a gainful occupation for which the rate of pay is not less than seventy-five percent (75%) of the current rate of pay of their regular occupation at date of disability will not be considered totally disabled and will therefore not be eligible for benefits under this Long Term Disability Plan.

  • Definition of Total Disability Total disability means that the employee is unable, because of sickness or accident, to perform the duties of their regular occupation. This definition applies for the first twenty-four (24) months of payments. After this time, the inability to perform an occupation for which the employee is reasonably fitted by training, education or experience will constitute total disability. It is not required that an employee be confined to home, but they must be under the regular care of a physician.

  • Pregnancy Disability Leave (PDL) - An employee is eligible for continuation of MPS in accordance with applicable law.

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Death Disability Dissolution If the Optionee is a natural person who dies while involved in a Business Relationship with the Corporation, this option may be exercised, to the extent otherwise exercisable on the date of his death, by his estate, personal representative or beneficiary to whom this option has been assigned pursuant to Section 10, at any time within 180 days after the date of death, but not later than the scheduled expiration date. If the Optionee is a natural person whose Business Relationship with the Corporation is terminated by reason of his disability (as defined in the Plan), this option may be exercised, to the extent otherwise exercisable on the date the Business Relationship was terminated, at any time within 180 days after the date of such termination, but not later than the scheduled expiration date. At the expiration of such 180-day period or the scheduled expiration date, whichever is the earlier, this option shall terminate and the only rights hereunder shall be those as to which the option was properly exercised before such termination. If the Optionee is a corporation, partnership, trust or other entity that is dissolved, liquidated, becomes subject to a voluntary or involuntary bankruptcy proceeding, has a receiver appointed for all or a substantial portion of its property or enters into a merger or acquisition with respect to which such optionee is not the surviving entity at the time when such entity is involved in a Business Relationship with the Corporation, this Option shall immediately terminate as of the date of such event, and the only rights hereunder shall be those as to which this option was properly exercised before such dissolution or other event.

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Separation from Employment Employees who leave the District with a vacation balance shall have their vacation balance cashed out. If vacation is loaded on July 1st, the vacation balance shall be pro-rated prior to cash out.

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