Common use of Retirement Eligibility Status Clause in Contracts

Retirement Eligibility Status. Normal retirement for an employee shall occur at age sixty-five (65) with fifteen (15) years of service. An employee, to be eligible for earlier retirement, must meet one of the following conditions: a. have attained age sixty-two (62) and attained fifteen (15) years of full-time active service, or b. have completed twenty-five (25) years of full-time service regardless of age. Part-time employees who become full-time employees shall be awarded retirement credit at the rate of fifty percent (50%) for each year up to ten (10) part-time years worked for a maximum retirement credit of five (5) years.

Retirement Eligibility Status. Normal retirement for an employee shall occur at age sixty-five (65) with fifteen (15) years of service. An employee, to be eligible for earlier retirement, must meet one of the following conditions: a. have a) Have attained age sixty-two (62) and attained fifteen (15) years of full-time active service, or b. have b) Have completed twenty-five (25) years of full-time active service regardless of age. Part-time employees who become full-time employees shall be awarded retirement credit at the rate of fifty percent (50%) for each year up to ten (10) part-time years worked for a maximum retirement credit of five (5) years.

Retirement Eligibility Status. Normal retirement for an employee shall occur at age sixty-five (65) with fifteen (15) years of service. An employee, to be eligible for earlier retirement, must meet one of the following conditions: a. have a) Have attained age sixty-two (62) and attained fifteen (15) years of full-full- time active service, or b. have b) Have completed twenty-five (25) years of full-time active service regardless of age. Part-time employees who become full-time employees shall be awarded retirement credit at the rate of fifty percent (50%) for each year up to ten (10) part-time years worked for a maximum retirement credit of five (5) years.