RETIREMENT AND RETIREMENT ALLOWANCE. 33.01 Any employee who has reached a combination figure of ninety (90) years service and age or has reached sixty-five (65) years of age may retire without any loss of retirement allowance. 33.02 Any employee who has ten (10) years or more of service and has attained the age of fifty-five (55) years may retire at her own request or be retired for just cause without loss of retirement benefits. 33.03 When an employee having continuous service of ten (10) years or more retires, the Employer shall pay such an employee a retirement allowance equal to thirty- seven and one-half (37.5) hours pay for each nineteen hundred and fifty (1950) hours of continuous service or portion thereof since October 1, 1959, but not exceeding nine hundred and seventy-five (975) hours pay, at the regular rate of pay. 33.04 When an employee has a permanent disability and requests to retire, or when the Employer requires an employee to retire due to a permanent disability, and in the absence of mutual agreement, an Arbitration Board whose decision shall be final and binding on the parties to this Agreement, shall be constituted in accordance with Article 16. If the permanent disability of an employee has been established under the Worker's Compensation Act or the Canada Pension Act, an Arbitration Board decision under this Article shall not be required. 33.05 A long-term employee of ten (10) years or more who is forced to discontinue employment for reasons of ill health prior to reaching retirement age shall be included in the above policy. The retirement allowance shall be computed on a pro rata basis effective October 1, 1959. 33.06 No retirement allowance shall be granted under this Section to an employee who is dismissed or resigns from the employ of the Employer. 33.07 The retirement allowance entitlement of a deceased employee shall be paid to the employee’s designated beneficiary or to his/her estate if no beneficiary has been designated.

RETIREMENT AND RETIREMENT ALLOWANCE. 33.01 Any employee who has ten (10) years or more of service and has attained the age of fifty-five (55) years may retire at her own request or be retired for just cause without loss of retirement benefits. 33.02 When an employee having continuous service of ten (10) years or more retires, the Employer shall pay such an employee a retirement allowance equal to thirty- seven and one-half (37.5) hours pay for each nineteen hundred and fifty (1950) hours of continuous service or portion thereof since October 1, 1959, but not exceeding nine hundred and seventy-five (975) hours pay, at the regular rate of pay. 33.03 No retirement allowance shall be granted under this Section to an employee who is dismissed or resigns from the employ of the Employer. 33.04 The retirement allowance entitlement of a deceased employee shall be paid to the employee’s estate.

RETIREMENT AND RETIREMENT ALLOWANCE. 33.01 Any employee who has ten (10) years or more of service and has attained the age of fifty-five (55) years may retire at their own request or be retired for just cause without loss of retirement benefits. 33.02 When an employee having continuous service of ten (10) years or more retires, the Employer shall pay such an employee a retirement allowance equal to thirty- seven and one-half (37.5) hours pay for each nineteen hundred and fifty (1950) hours of continuous service or portion thereof since October 1, 1959, but not exceeding nine hundred and seventy-five (975) hours pay, at the regular rate of pay. 33.03 No retirement allowance shall be granted under this Section to an employee who is dismissed or resigns from the employ of the Employer. 33.04 The retirement allowance entitlement of a deceased employee shall be paid to the employee's estate. 33.05 An employee who is eligible for retirement allowance may elect to immediately receive it or defer receipt until the beginning of the next calendar year, but receipt may not be deferred beyond the end of the fiscal year in which the amount is payable.

RETIREMENT AND RETIREMENT ALLOWANCE. 32.1 When an employee who has attained the age of fifty-five (55) and ten (10) years continuous service or more retires, the Employer shall pay an employee a retirement allowance equal to forty (40) hours pay for each year of service at his regular rate of pay. A year of service for the purpose of this Article shall constitute two thousand and eighty (2080) work hours. The maximum retirement allowance payable shall be equivalent to one thousand and forty (1040) working hours. 32.2 An employee who requests to retire as a result of a permanent disability shall be entitled to a retirement allowance of forty (40) hours pay for each year of service calculated as above provided the employee has been deemed permanently disabled under either the Workers Compensation Act or the Canada Pension Act. The maximum retirement allowance payable shall be equivalent to one thousand and forty (1040) working hours.

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Retirement Allowance Prior to issuing notice of layoff pursuant to article 9.08(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 9.08(a)(ii). An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of two weeks' salary for each year of service, plus a prorated amount for any additional partial year of service, to a maximum ceiling of 26 weeks' salary, and, in addition, full-time employees shall receive a single lump-sum payment equivalent to $1,000 for each year less than age 65 to a maximum of $5,000 upon retirement."
Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.
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.
Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.
Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.
Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.
Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.
Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)
Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.
Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

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