Common use of Plan Discontinuance Clause in Contracts

Plan Discontinuance. In the event that the PPRP is discontinued during or at the conclusion of the trial period described herein, unit members who are participants in the plan at the time of discontinuance shall have the following options: a. Unit members who did not elect to receive their TIAA-CREF, MSRS or Federal annuity or pension may continue to be employed at a reduced workload and salary in accordance with their approved agreements. b. Unit members who elected to receive their TIAA / CREF annuity may continue to be employed at a reduced workload and salary in accordance with their approved agreements, or may return to full-time regular employment without penalty with proportionate adjustment in salary. c. Unit members who elected to receive their Federal retirement system annuity may continue to be employed at a reduced salary and workload in accordance with their approved agreements, or may return to full-time regular employment without penalty with proportionate adjustment in salary, subject to applicable laws and / or regulations regarding salary and annuity amounts referenced in Section C.6.a of this memorandum. d. Unit members who elected to receive their MSRS pension may continue to be employed at a reduced salary and workload in accordance with their approved agreements, or may return to full-time regular employment without penalty with proportionate adjustment in salary, subject to the pension reimbursement obligations referenced in Section C.6.b of this memorandum.

Plan Discontinuance. In the event that the PPRP is discontinued during or at the conclusion of the trial period described herein, unit members who are participants in the plan at the time of discontinuance shall have the following options: a. Unit members who did not elect to receive their TIAA-CREF, MSRS or Federal annuity or pension may continue to be employed at a reduced workload and salary in accordance with their approved agreements. b. Unit members who elected to receive their TIAA / CREF annuity may continue to be employed at a reduced workload and salary in accordance with their approved agreements, or may return to full-time regular employment without penalty with proportionate adjustment in salary. c. Unit members who elected to receive their Federal retirement system annuity may continue to be employed at a reduced salary and workload in accordance with their approved agreements, or may return to full-time regular employment without penalty with proportionate adjustment in salary, subject to applicable laws and / or regulations regarding salary and annuity amounts referenced in Section C.6.a of this memorandum. d. Unit members who elected to receive their MSRS pension may continue to be employed at a reduced salary and workload in accordance with their approved agreements, or may return to full-time regular employment without penalty with proportionate adjustment in salary, subject to the pension reimbursement obligations referenced in Section C.6.b of this memorandum.