Common use of Retirement Eligibility Clause in Contracts

Retirement Eligibility. An employee is eligible for retirement benefit payments under the following conditions: After twenty-three (23) years or more of credited service with no age restriction. At sixty (60) years of age with a minimum of eight (8) years of credited service. Deferred retirement after fifteen (15) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed. Employees hired prior to January 1, 1988 may elect deferred retirement after eight (8) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed.

Retirement Eligibility. An employee is eligible for retirement benefit payments under the following conditions: • After twenty-three (23) years or more of credited service with no age restriction. • At sixty (60) years of age with a minimum of eight (8) years of credited service. • Deferred retirement after fifteen (15) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed. Employees hired prior to January 1, 1988 may elect deferred retirement after eight (8) years of credited service with retirement benefit payments commencing when twenty-three (23) years of service would normally have been completed.