Regular Early Retirement Sample Clauses

Regular Early Retirement. On or after February 17, 2012, an Employee (not retired prior to such date) who;
Sample 1
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Regular Early Retirement. An eligible employee who shall retire before his Regular Retirement Age, but at or after the first day of the month following the month which his sixtieth (60th) birthday occurs, shall receive either of the following, as the employee may elect: (a) a deferred monthly Retirement Pension commencing with the month following attainment of Regular Retirement Age equal to the Benefit Level multiplied by the number of years (and fraction thereof) of his Accredited Service to the time of early retirement and a Special Retirement Supplement commencing at the same time; or (b) an immediate Special retirement Supplement and an immediate monthly Retirement Pension equal to the Benefit Level multiplied by the number of years (and fraction thereof) of his Accredited Service at the time of retirement in a reduced amount which shall be equal to the deferred Retirement Pension provided for in subsection (a) above minus the product of, (i) one-half percent times,
Sample 1
Regular Early Retirement. Each Member who elects to Retire on an Early Retirement Xxxx pursuant to Section 5.02 (Early Retirement) shall be entitled to receive an annual pension payable immediately or may elect to have payment of the pension deferred to commence at a later date, but no later than the Member's Normal Retirement Date. The pension shall be paid in equal monthly installments commencing on the date the Member Retires or on such later date as the Member may elect and continuing on the first day of each month thereafter. The pension shall be the pension accrued by the Member up to the Member's Early Retirement Date, computed pursuant to Section 6.01 above, based upon the Member's Final Average Earnings and Pensionable Service up to the Member's Early Retirement Date, but reduced by 0.5% for each complete month by which the Member's Pension Commencement Date precedes the Member's Normal Retirement Date. However, the reduction for early commencement will not be more than the reduction determined on an actuarially equivalent basis.
Sample 1

Related to Regular Early Retirement

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • 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 Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Normal Retirement Age Normal Retirement Age shall mean 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.

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