Post-retirement contract Sample Clauses

Post-retirement contract. For retirees hired for post-retirement employment, pursuant to RCW 28A.405.900. Such post-retirement employment contracts are non-continuing contracts, that is, they expire automatically at the end of the contract period with no right or expectation of renewal. Post-retirement employment contracts shall only be available to the extent permitted by and consistent with Washington State law. 5.10.2.4.1 The District assumes no responsibility for the pension impact of post-retirement employment; rather, retirees themselves are solely responsible for compliance with post-retirement conditions (e.g. break-in service requirements and work hour limitations) under applicable retirement statutes and regulations.
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Post-retirement contract. A staff member who has retired from the University or another organisation and who is eligible to access their retirement benefit from their relevant superannuation fund may be engaged for a limited period of time. Such employment contracts will be used primarily for the purpose of teaching and research degree supervision.
Post-retirement contract. 18.2.1 After ten (10) years of full time satisfactory service in the County Office and attaining the age of fifty-five (55), but not yet reaching age sixty-five (65), a unit member would become eligible for the Early Retirement/Post Retirement Contract. 18.2.2 Certificated individuals must apply for this program by February 15th of the year they wish to retire and must retire on July 1 of the same year. 18.2.3 Upon approval by the Superintendent, persons opting for this program would retire and be employed (in addition to their retirement benefits) as an independent contractor of this County Office under conditions listed below. 18.2.4 Once electing to participate in the program, a unit member may not request to return to regular employment in the County Office. Also, once a unit member has entered the program, he/she may not change options or re-enter the service of the County Office. 18.2.5 The maximum period for which this agreement shall remain in force is ten (10) years or until age sixty-five (65), whichever comes first and subject to the following conditions: 18.2.5.1 The County Office shall pay for the retiree and his/her spouse's premium in the County Office's medical insurance plan at the same rate provided to active unit members until retiree reaches age sixty-five (65), or until the retiree and his spouse are covered by other medical insurance plans provided by any other source. This one aspect of the Early Retirement Incentive Program (medical insurance) is a legal commitment from the County Office and is subject to termination only at the request of the retiree, death of the retiree, or as mentioned above, other medical insurance provided by any other source. 18.2.5.2 Between the ages of fifty-five (55) and sixty-five (65) only, subject to renewal each July 1st at the option of the retiree, the retiree may be employed as an independent contractor subject to the following two (2) conditions: 18.2.5.2.1 Employment of twenty (20) days per year, subject to annual renewal. 18.2.5.2.2 A salary at least equivalent to twenty (20) days' pay at the daily rate of the salary schedule and step at which the retiree was placed when he/she retired. The salary will be paid each year at the same daily rate earned by active unit members in the same position. Salary shall not exceed the STRS maximum amount. Salary may be paid in twelve (12) equal payments or in one (1) payment at the option of the retiree.
Post-retirement contract. The University may offer a fixed-term “Post-retirement contract” to a person who has formally retired from the workforce.
Post-retirement contract. Where the employee has entered into a Post-retirement contract following normal retirement and where the employee has accessed superannuation benefits (or equivalent).
Post-retirement contract. A fixed term contract may be offered to a staff member who is retiring, or has retired, for a period of up to 5 years.

Related to Post-retirement contract

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

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