Point Retirement Sample Clauses

Point Retirement. A Member who retires from active employment and has attained age 55 and accumulated 85 points (age plus Credited Service) may elect 85
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Point Retirement. If you retire on or after January 1, 1996 after reaching age 55, and if your age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) you are entitled to unreduced pension.
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Point Retirement. If you retire on or after March 1, 2014 after having reached age 55 and your combined age and years of total credited service total 85 or more (but prior to having qualified for Special Early Retirement), you are entitled to an immediate pension equal to the amount of your vested accrued basic pension for service to the date of early retirement. In addition, you shall be entitled to a lifetime supplement calculated as if you had reached age 65 on your date of retirement, but using your current unreduced vested accrued basic pension and your related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum pension, all determined as of your actual date of retirement. Once you become eligible to receive unreduced Canada Pension Plan Retirement benefits (on attaining age 65) and, in addition to the lifetime supplement, a member who retires under this provision (85 Point Retirement) will be paid a further supplement, if necessary, to produce a total pension from Company Plans equal to the pension that would be payable if the member would then retiring at normal retirement, based on the normal retirement minimum pension and full unreduced Canada Pension Plan retirement benefit both determined as of that date, his accrued pension, including any escalation thereof and his related credited service. This further supplement shall then be added to and form part of the member’s lifetime supplement.
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Point Retirement. Upon 85 Point Retirement the Member shall be entitled to a pension from the Defined Benefit Pension Plan, subject to adjustment under Section 7 of Part B, equal to his/her Accrued Retirement Pension as determined at the date of retirement.
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Point Retirement. A member retiring on or after January 1, 1991 and after having attained age 55 and whose age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) is entitled to an immediate accrued pension equal to the amount of accrued vested pension to his credit for service to date of early retirement. In addition, such member shall be entitled to a lifetime supplement calculated as if the member had attained age 65 on his date of retirement but using his current unreduced vested accrued pension and his related credited service, the full unreduced Canada Pension Plan Retirement benefit and the normal retirement minimum pension all determined as of the member's actual date of retirement.
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Point Retirement. For those employees who have 85 points but do not have the credited service please refer to the letter of understanding entitled “Special 85 point retirement”. Early Retirement Program Window Due to excess manpower above requirements, the company and the union have entered into an agreement to reduce the seniority list during the life of the collective agreement by introducing an Early Retirement Program. Under the Early Retirement Program, increased pension benefits will be payable to employees who retire from employment on or after February 10, 2014, but no later than March 31, 2025, and who meet all of the following criteria on the date of their retirement:
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Point Retirement. A Member who retires from active employment and has attained age and accumulated points (age plus Credited Service) may elect Point Retirement. Upon Point Retirement the Member shall be entitled to a pension from the Defined Benefit Pension Plan, subject to adjustment under Section 7 of Part equal to his/her Accrued Retirement Pension as determined at the date of retirement.
Sample 1
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Point Retirement. A member retiring on or after January 1, 1991 and after having attained age 55 and whose age plus years of credited service total 85 or more (but prior to having qualified for Special Early
Sample 1
Point Retirement. An employee who is at least 55 years of age and whose age plus years of credited service totals 85 (for example: 55 years of age with 30 years of service or 58 years of age with 27 years of service) is eligible to receive an unreduced lifetime pension similar to the pension under Normal Retirement Date. • Example 5: April 21, 2013 employee retires at age 55 with 30 years of service o Lifetime monthly pension = $2,525 – CPP = $1,512.50 • Example 6: April 21, 2013 employee retires at age 58 with 27 years of service o Lifetime monthly pension = ($2,525 – CPP) x 27/30 = $1,361.25 SIX DAY WEEK PROVISIONS LETTER OF UNDERSTANDING NO. 1 BETWEEN BREWERY, WINERY AND DISTILLERY WORKERS, LOCAL 300 AND BREWERS’ DISTRIBUTOR LTD. (BDL) It is agreed that the 6 day week provisions of Article 4.02 will apply to all Forklift Drivers of the Bottle Sort. This Letter of Understanding will terminate with the expiration of the Collective Agreement. Signed this 9th day of May, 2013 on behalf of: BREWERY, WINERY AND DISTILLERY WORKERS UNION, LOCAL 300 BREWERS’ DISTRIBUTOR LTD. Xxxxx Xxxxxxxxx Xxxxxx Xxxxxx Xxx Xxxxx Xxxxx Xxxxx Xxx Xxxxxx Xxxxx Xxxx Xxxxx XxXxxxxx Xxxxx Xxxxxx Xxxxxx Xxxxx DEFERRED RETIREMENT LETTER OF UNDERSTANDING NO .2 BETWEEN BREWERY, WINERY AND DISTILLERY WORKERS, LOCAL 300 AND BREWERS’ DISTRIBUTOR LTD. (BDL) Should mandatory retirement at age 65 be no longer permitted by law in this Province and a regular employee continues in employment beyond his normal retirement date, the following conditions shall govern such employment and be added to the Collective Agreement.
Sample 1

Related to Point Retirement

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • 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.

  • Pre-Retirement Leave (a) An employee, who is scheduled to retire and to receive a superannuation allowance under the Pension (Public Service) Act, or who has reached the mandatory retiring age, shall be entitled to:

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • 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.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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