Qualified Years. As used herein, the term "qualified years," with respect to any employee, shall refer to the number of consecutive periods of three hundred sixty-five (365) consecutive days each, calculated backward from the date of his severance, in each of which the employee has been employed by Producer for two hundred (200) or more workdays (including paid vacation days as workdays); it being understood and agreed that if, in any such three hundred sixty-five (365) day period, such employee was employed for less than two hundred (200) workdays by Producer, such three hundred sixty-five (365) day period shall not be counted as a qualified year but shall be "bridged" for severance pay purposes, with the result that any such three hundred sixty-five (365) day period or periods prior to such "bridged" year in which employee was employed by Producer for two hundred (200) or more workdays shall be counted as qualified years; provided, however, that any three hundred sixty-five (365) day period in which employee received any authorized leave of absence without pay shall be extended by the length of such leave and provided, further, that the computation of qualified years shall be subject to the following exception: If an employee is determined to have less than two (2) qualified years, he shall be credited with a qualified year only if, in addition to having been employed for at least two hundred (200) or more workdays in the three hundred sixty-five (365) days immediately preceding his date of severance, he shall have been employed for at least one (1) day during the first six (6) months of the eighteen (18) month period immediately preceding his date of severance, in which case he shall be credited with one (1) qualified year.
Qualified Years. For purposes of paragraphs (A), (B) and (C), Credited Hours shall be limited as set forth in Section 2(a)(2).
Qualified Years. For purposes of paragraphs (A), (B) and (C), Credited Hours shall be limited as set forth in Section 2(a)(2). In addition, an additional 23% shall be added to the frozen benefits described in Article II, paragraph 2.B of Exhibit X and the frozen benefits described in Article II, paragraph 2.B of Exhibit Y (collectively “Frozen Benefits”).
Qualified Years. The bargaining parties agree to recommend to the Directors of the Pension Plan that the Pension Plan provide a thirteenth and fourteenth check on or about November 1st of each year of this Agreement to those retirees who retired on or before August 1, 2009 and who were employed under the Basic Agreement and/or Videotape Agreement or who were not covered by any collective bargaining agreement during their employment (i.e., “non-affiliates”), provided that the Pension Plan's actuaries, in conjunction with the Health Plan's consultants, determine, taking into account the costs of such thirteenth and fourteenth checks, that: (i) at least eight (8) months of reserves exist in each of the Active Employees Fund and the Retired Employees Fund at that time; (ii) the Plan is certified to be in the Green Zone in the calendar year in which the check(s) are paid; (iii) the cost of thirteenth and fourteenth checks, if any, granted during the term of the Agreement shall be amortized over the fifteen (15) year amortization period commencing January 1, 2017; and (iv) if there are insufficient funds in the Pension Plan after accounting for existing obligations to provide both a thirteenth and fourteenth check, then a thirteenth check will be provided. The foregoing Pension Plan improvements shall not be applicable to any Plan participant who is covered by another collective bargaining agreement, unless such collective bargaining agreement contains this pension and health package on an equivalent economic basis.
Qualified Years. (2) The bargaining parties agree to recommend to the Directors of the Pension Plan that the Pension Plan provide a thirteenth and fourteenth check on or about November 1st of each year of this Agreement to those retirees who retired on or before August 1, 2009, provided that the Pension Plan’s actuaries, in conjunction with the Health Plan’s consultants, determine, taking into account the costs of such thirteenth and fourteenth checks, that: (i) at least eight (8) months of reserves exist in each of the Active Employees Fund and the Retired Employees Fund at that time; (ii) the Plan is certified to be in the Green Zone in the calendar year in which the check(s) are paid; (iii) the cost of thirteenth and fourteenth checks, if any, granted during the term of the Agreement shall be amortized over the fifteen (15) year amortization period commencing January 1, 2017; and (iv) if there are insufficient funds in the Pension Plan after accounting for existing obligations to provide both a thirteenth and fourteenth check, then a thirteenth check will be provided.
(g) It is understood that the bargaining parties and the Directors of the Pension Plan will take all necessary steps to assure the tax deductibility of employer contributions under the provisions of the Internal Revenue Code as it now exists or is hereafter amended.
Qualified Years. The bargaining parties agree to recommend to the Directors of the Pension Plan that the Pension Plan provide a thirteenth and fourteenth check on or about November 1st of each year of this Agreement to those retirees who retired on or before August 1, 2009, provided that the Pension Plan's actuaries, in conjunction with the Health Plan's consultants, determine, taking into account the costs of such thirteenth and fourteenth checks, that: (i) at least eight (8) months of reserves exist in each of the Active Employees Fund and the Retired Employees Fund at that time; (ii) the Plan is certified to be in the Green Zone in the calendar year in which the check(s) are paid; (iii) the cost of thirteenth and fourteenth checks, if any, granted during the term of the Agreement shall be amortized over the fifteen (15) year amortization period commencing January 1, 2017; and (iv) if there are insufficient funds in the Pension Plan after accounting for existing obligations to provide both a thirteenth and fourteenth check, then a thirteenth check will be provided.
Qualified Years. (2) The bargaining parties agree to recommend to the Directors of the Pension Plan that the Pension Plan provide a thirteenth and fourteenth check on or about November 1st of each year of this Agreement to those retirees who retired on or before August 1, 2009, provided that the Pension Plan's actuaries, in conjunction with the Health Plan's consultants, determine, taking into account the costs of such thirteenth and fourteenth checks, that (i) at least eight (8) months of reserves exist in each of the Active Employees Fund and the Retired Employees Fund at that time; (ii) the Plan is certified to be in the Green Zone in the calendar year in which the check(s) are paid; (iii) the cost of thirteenth and fourteenth checks, if any, granted during the term of the Agreement shall be amortized over the current fifteen (15) year amortization period commencing January 1, 2017; and (iv) if there are insufficient funds in the Pension Plan after accounting for existing obligations to provide both a thirteenth and fourteenth check, then a thirteenth check will be provided. As the Pension Plan actuaries have determined that the Pension Plan satisfies these criteria for 2021, the Pension Plan shall issue the thirteenth and fourteenth checks for 2021 as soon as practicable following the AMPTP's receipt of notice of ratification of this Agreement.
(g) Future pension benefit increases shall be recommended contingent upon the maintenance of a funding margin of ten percent (10%) (as measured by withdrawal liability for PBGC purposes), which margin is expected to be maintained in future years.
(h) The parties agree to recommend to the Board of Directors of the Motion Picture Industry Pension Plan the adoption of the entry age normal actuarial cost method and an increase in the interest rate assumption to eight percent (8%).
(i) Suggestions for changes in the early retirement benefit shall be referred for review and study to a cooperative committee consisting of an equal number of Producer and Union representatives.
(j) The parties agree to recommend to the Board of Directors of the Motion Picture Industry Pension Plan the adoption of an amendment to the Trust Agreement which would add a plant closing benefit for employees of the Metrocolor facility. The bargaining parties will review other plant closings on a case-by-case basis and make appropriate recommendations to the Trustees.
(k) It is understood that the bargaining parties and the Directors of the Pension Plan will take...
Qualified Years. Number of Weeks of Severance Pay An employee employed by the EMPLOYER under this Agreement or its predecessor agreements for one or more qualified years (as defined in Section 20.6 hereof) whose employment is severed after October 31, 1988 shall receive the applicable severance pay set forth below (as modified in Sections 20.3 and 20.4 hereof) unless such employee is disqualified for severance pay purposes pursuant to Section 20.5 hereof 3-4 2 5-8 3 9 4 10 5 11-12 6 13 - 14 7 15 8 16 9 17 10 18 11 19 12
Qualified Years. An employee who has been employed by the EMPLOYER under this Agreement or its predecessor agreements for ten (10) or more qualified years (as defined in Paragraph 68 (A)(1)(ii) of the Basic Agreement) and who has made the required application for retirement to the Motion Picture Industry Pension Plan at least sixty (60) days prior to retiring or has made the required application for retirement to any private retirement plan referred to in Article XV of the Trust Agreement of the Motion Picture Industry Pension Plan shall receive, thirty (30) days following his/her retirement, a retirement bonus based on the retirement bonus formula as set forth below; Qualified Years Number of Weeks of Retirement Bonus 14-15 7 16-17 8 18-19 9 20 or more 10 Provided that, to receive such retirement bonus:
