Common use of RETIREMENT AND RETIREE INSURANCE Clause in Contracts

RETIREMENT AND RETIREE INSURANCE. A. For full time employees hired into the Township prior January 1, 2018: 1. The Employer agrees to continue to provide Michigan Employees Retirement System (MERS) benefits as follows; B-2 (2% multiplier), 6-V, age 60, FAC-5, calculated on base wages only (no add-ons), no purchasing of years, two (2%) percent employee contribution. Full time employees hired after January 1, 2014 will be eligible for MERS benefits based on age 60, 10-V. 2. Based upon length of service at the time of retirement, an Employee with at least fifteen

RETIREMENT AND RETIREE INSURANCE. A. For full time employees Employees hired into the Township prior January 1, 2018: 1. The Employer agrees to continue to provide Michigan Employees Retirement System (MERS) benefits as follows; B-2 (2% multiplier), 6-V, age 60, FAC-5, calculated on base wages only (no add-ons), no purchasing of years, two percent (2%) percent employee Employee contribution. Full time employees Employees hired after January 1, 2014 will be eligible for MERS benefits based on age 60, 10-V. 2. Based upon length of service at the time of retirement, an Employee with at least fifteen

RETIREMENT AND RETIREE INSURANCE. A. For full time employees hired into the Township prior January 1, 2018: 1. The Employer agrees to continue to provide Michigan Employees Retirement System (MERS) benefits as follows; B-2 (2% multiplier), 6-V, age 60, FAC-5, calculated on base wages only (no add-ons), no purchasing of years, two percent (2%) percent employee contribution. Full time employees hired after January 1, 2014 will be eligible for MERS benefits based on age 60, 10-V. 2. Based upon length of service at the time of retirement, an Employee with at least fifteen