Post Normal Retirement Age (65) Benefits Sample Clauses

Post Normal Retirement Age (65) Benefits. After attaining Normal Retirement Age a Continuing employee will be eligible for the following benefits programs, provided they remain actively employed on a full time basis: • Pension Plan for Administrative Staff (contributions will continue up until the earlier of your retirement date, age plus service is 95, or the end of the year you attain age 69) • Dental Plan, Extended Health, Vision Care and Out of Country coverage Plan. Employees who have reached Normal Retirement Date will use the Ontario Drug Benefit(ODB) as first payer, if eligible. Any drugs not covered by ODB that are covered by the University Plan may be submitted for reimbursement. • a $15,000 Life Insurance Benefit while continuing to work on a full time basis past age 65. • Parental Leave • Compassionate Leave • Bereavement Leave • Educational Assistance • Vacation • Long Service Awards • Employee Assistance After achieving Normal Retirement Age the following benefits programs for active Continuing employees will cease: • Long Term Disability • Basic Life Insurance, Optional Life Insurance, Dependent Life Insurance • Voluntary Personal Accident Insurance Employees may elect to convert the amount of life insurance in force as at Normal Retirement Date, up to a maximum of $200,000, to a private policy within 31 days. Premiums for this private policy are 100% paid by the employee. Voluntary Personal Accident Insurance in force may also be converted to a private policy.
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Related to Post Normal Retirement Age (65) Benefits

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • 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.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • 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.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • RETIREMENT PICK-UP 257. For the term of this Agreement, the CITY shall pick up the full amount of the employees’ contribution to retirement.

  • 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.

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