Common use of Retirement Allowance Clause in Contracts

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) ‌ Upon retirement from service, an employee who has completed twenty (20) 20 years of service senioritycontinuous service, and who under the provisions of the Public Service Pension Plan Rules is entitled to receive pension benefits on retirement, is entitled to an amount equal to his/her their salary for one (1) month, and for each full year of service exceeding twenty (20) 20 years but not exceeding thirty (30) 30 years, is entitled to an additional amount equal to one-fifth (1/5) of his/her their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service senioritycontinuous service, and who under the provisions of the Pension Plan is entitled to receive a benefit on retirement, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-one fifth (1/51/5th) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her their salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/51/5th) of his/her their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) ‌ Upon retirement from service, an employee who has completed twenty (20) 20 years of service senioritycontinuous service, and who under the provisions of the Pension Plan is entitled to receive a benefit on retirement, is entitled to an amount equal to his/her his salary for one (1) month, and for each full year of service exceeding twenty (20) 20 years but not exceeding thirty (30) 30 years, is entitled to an additional amount equal to one-fifth (1/51⁄5) of his/her his monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her their salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5⅕) of his/her their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years years, but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) 20 years of service seniority, and is 55 years of age or older, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years 20 years, but not exceeding thirty (30) 30 years, is entitled to an additional amount equal to one-fifth (1/5) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5⅕) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) years of service seniority, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) years but not exceeding thirty (30) years, is entitled to an additional amount equal to one-fifth (1/5) of his/her monthly salarysalary to a maximum of five thousand dollars ($5,000). The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) 20 years of service senioritycontinuous service, and who under the provisions of the Public Service Pension Plan Rules is entitled to receive pension benefits on retirement, is entitled to an amount equal to his/her their salary for one (1) month, and for each full year of service exceeding twenty (20) 20 years but not exceeding thirty (30) 30 years, is entitled to an additional amount equal to one-fifth (1/5) one‐fifth of his/her their monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.

Retirement Allowance. (a) Upon retirement from service, an employee who has completed twenty (20) 20 years of service senioritycontinuous service, and who under the provisions of the Pension Plan is entitled to receive a benefit on retirement, is entitled to an amount equal to his/her salary for one (1) month, and for each full year of service exceeding twenty (20) 20 years but not exceeding thirty (30) 30 years, is entitled to an additional amount equal to one-fifth (1/5) of his/her monthly salary. The employee may opt to take the allowance as equivalent paid leave of absence to be taken immediately prior to retirement.