PURCHASE OF ADDITIONAL RETIREMENT CREDIT Sample Clauses

PURCHASE OF ADDITIONAL RETIREMENT CREDIT a. Effective January 1, 2007, or as soon thereafter as administratively possible, and contingent upon agreement from all other recognized employee organizations, and subject to the provisions of Section 31658 of the County Employees Retirement Law of 1937 (‘1937 Act’), an active employee who has at least five years of credited service with the Sacramento County Employees’ Retirement System (‘SCERS’) may elect to purchase up to five (5) years of additional retirement credit (‘ARC’). ARC means time that does not otherwise qualify as County service, public service, military service, medical leave of absence, or any other time recognized as purchasable service credit by SCERS.
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PURCHASE OF ADDITIONAL RETIREMENT CREDIT a. Effective January 1, 2008, subject to the provisions of Section 31658 of the County Employees Retirement Law of 1937 (“1937 Act”), an active employee who has at least five years of credited service with the Sacramento County Employees' Retirement System ('SCERS') may elect to purchase up to five (5) years of additional retirement credit ('ARC'). ARC means time that does not otherwise qualify as Court service, public service, military service, medical-leave of absence, or any other time recognized as purchasable service credit by SCERS.
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Related to PURCHASE OF ADDITIONAL RETIREMENT CREDIT

  • Retirement Credit Retirement credit for such periods of leave without pay shall be governed by the rules and regulations of the Division of Retirement and the provisions of Chapter 121, Florida Statutes.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • 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.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Contribution Formula Dental Coverage a. Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2014, and January 1, 2015, the minimum employee contribution shall be five dollars ($5.00) per month.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

  • Retirement and Pension Account A retirement or pension account maintained in Singapore that satisfies the following requirements under the laws of Singapore.

  • Early Retirement Option The District may offer an early retirement incentive for unit members.

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