Retirement Gratuity and Long Service Allowance Sample Clauses

Retirement Gratuity and Long Service Allowance. (a) A BCGEU faculty member employed prior to January 12, 1989, who has served the Employer for at least ten (10) years as a BCGEU faculty member immediately prior to retirement, shall receive a gratuity equal to five (5) working days of pay for every year of completed continuous service with the Employer.
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Retirement Gratuity and Long Service Allowance. ‌ (a) A BCGEU instructor employed prior to January 12, 1989, who has served the Employer for at least ten (10) years as a BCGEU instructor immediately prior to retirement, shall receive a gratuity equal to five (5) working days of pay for every year of completed continuous service with the Employer. A break in service resulting in a loss of seniority as per Article 12.3 renders any previous experience ineligible. Continuous service to the Public Service of B.C. immediately prior to the meld, which took place October 1, 1975, will be considered as continuous service with the Employer. Any part years shall be calculated on a prorated basis. Such pay shall be at the regular employee's current rate on the basic salary schedule exclusive of any allowance or other pay. (b) A BCGEU instructor employed prior to January 12, 1989, who has served the Employer for at least ten (10) consecutive years as a BCGEU instructor immediately prior to leaving the service of the Employer for any reason other than cause or retirement, shall receive a long service termination allowance equal to one-half (½) the value of the retirement gratuity. A break in service resulting in a loss of seniority as per Article 12.3 renders any previous experience ineligible. (c) The faculty member shall elect the option in which they receive their allowance payment. Payment options for the Retirement Gratuity or Long Service Allowance will be in compliance with Canada Revenue Agency regulations. (d) An employee shall be eligible for only one of the benefits pursuant to Articles 24.6(a) and (b) above. Service credit shall not be pyramided with any other resignation or retirement benefit(s) offered by the Employer.
Retirement Gratuity and Long Service Allowance. (a) A BCGEU Instructor employed prior to January 12, 1989 who has served the University-College for at least ten (10) years as a BCGEU instructor immediately prior to retirement, shall receive a gratuity equal to five (5) working days of pay for every year of completed continuous service with the University-College. A break in service resulting in a loss of seniority as per Article 13.3 renders any previous experience ineligible. Continuous service to the Public Service of B.C. immediately prior to the meld which took place October 1, 1975 will be considered as continuous service with the University-College. Any part years shall be calculated on a prorated basis. Such pay shall be at the regular employee's current rate on the basic salary schedule exclusive of any allowance or other pay. (b) A BCGEU instructor employed prior to January 12, 1989 who has served the University-College for at least ten (10) consecutive years as a BCGEU instructor immediately prior to leaving the service of the University-College for any reason other than cause or retirement shall receive a long service termination allowance equal to one-half (½) the value of the retirement gratuity. A break in service resulting in a loss of seniority as per Article 13.3 renders any previous experience ineligible.
Retirement Gratuity and Long Service Allowance. ‌ (a) A BCGEU instructor employed prior to January 12, 1989, who has served the Employer for at least ten (10) years as a BCGEU instructor immediately prior to retirement, shall receive a gratuity equal to five (5) working days of pay for every year of completed continuous service with the Employer. A break in service resulting in a loss of seniority as per Article 13.3 renders any previous experience ineligible. Continuous service to the Public Service of B.C. immediately prior to the meld, which took place October 1, 1975, will be considered as continuous service with the Employer. Any part years shall be calculated on a prorated basis. Such pay shall be at the regular employee's current rate on the basic salary schedule exclusive of any allowance or other pay. (b) A BCGEU instructor employed prior to January 12, 1989, who has served the Employer for at least ten (10) consecutive years as a BCGEU instructor immediately prior to leaving the service of the Employer for any reason other than cause or retirement, shall receive a long service termination allowance equal to one-half (½) the value of the retirement gratuity. A break in service resulting in a loss of seniority as per Article 13.3 renders any previous experience ineligible. (c) Option A - Lump Sum Payment The retirement allowance will be paid in one (1) sum on the date of retirement, or for optimum tax advantage on an agreed upon deferred date, or in twelve (12) equal instalments, at the option of the employee, and will be based on regular salary without allowances. (d) Option B The retirement allowance based on twenty percent (20%) of one-twelfth (1/12) of the retiring employee's pre-retirement annual salary without allowances will be paid each month by the Employer into a predesignated Registered Retirement Savings Plan or trust fund in the name of the retired employee to provide at the discretion of the retired employee, a supplemental pension income upon attaining the age of sixty-five (65) years. Payments shall commence on the first day of the month coincident with or next following the date of early retirement and shall cease when the retired employee reaches the sixty-fifth (65th) birthday. In the event the retired employee passes away prior to attaining the age of sixty-five (65), any contributions outstanding shall be payable by the Employer in a lump sum amount to the estate of the deceased. The maximum period of payment shall be sixty (60) months. (e) Option C The employee may choose a...

Related to Retirement Gratuity and Long Service Allowance

  • Retirement Gratuity Those employees who, on August 31, 2012, were eligible for a retirement gratuity shall have their accumulated sick days vested as of that date, up to the maximum eligible under the retirement gratuity plan.

  • Parental and Adoption Leave Allowance (a) An Employee entitled to parental or adoption leave under the provisions of this Agreement, who provides the Employer with proof that she/he has applied for and is eligible to receive employment insurance (E. I.) benefits pursuant to the Employment Insurance Act, 1996, shall be paid an allowance in accordance with the Supplementary Employment Benefit (S.E.B.) Plan. (b) In respect to the period of parental or adoption leave, payments made according to the S.E.

  • RETIREMENT GRATUITIES The issue of Retirement Gratuities has been addressed at the Central Table and the parties agree that formulae contained in current local collective agreements for calculating Retirement Gratuities shall govern payment of retirement gratuities and be limited in their application to terms outlined in Appendix B - Retirement Gratuities. The following language shall be inserted unaltered as a preamble to Retirement Gratuity language into every collective agreement: “Retirement Gratuities were frozen as of August 31, 2012. Employees are not eligible to receive a sick leave credit gratuity or any non-sick leave credit retirement gratuity (such as, but not limited to, service gratuities or RRSP contributions) after August 31, 2012, except a sick leave credit gratuity that the Employee had accumulated and was eligible to receive as of that day. The following language applies only to those employees eligible for the gratuity above.” Boards which have Long-Term Disability waiting periods greater than 131 days shall ensure there is language that accords with the following entitlement: An Employee who has applied for long-term disability is eligible for additional short- term disability leave days up to the maximum difference between the long-term disability waiting period and 131 days. The additional days shall be payable at 90% and shall be used only to bridge the employee to the long-term disability waiting period if, under a collective agreement in effect on August 31, 2012, the employee was required to wait more than 131 days before being eligible for benefits under a long-term disability plan and the collective agreement did not allow the employee the option of reducing that waiting period. The parties acknowledge that education workers contribute in a significant way to student achievement and well-being.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.02(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or the Government Employees Compensation Act prevents her from receiving Employment Insurance or Québec Parental Insurance Plan maternity benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.02(a), other than those specified in sections (A) and (B) of subparagraph 17.02(a)(iii), shall be paid, in respect of each week of maternity allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of her weekly rate of pay and the gross amount of her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.02 for a combined period of no more than the number of weeks during which she would have been eligible for maternity benefits under the Employment Insurance or Québec Parental Insurance Plan had she not been disqualified from Employment Insurance or Québec Parental Insurance maternity benefits for the reasons described in subparagraph (a)(i).

  • Retirement Pay Any teacher with ten (10) years consecutive teaching experience in the Park Hill School District immediately prior to retirement from PSRS without an age reduction for early retirement, shall receive upon retirement from the Park Hill School District a terminal amount based upon the following formula: (Notation, the teacher must make application to PSRS for retirement and begin drawing from PSRS on the first available month following retirement). Years of service to the Park Hill School District to be divided by ten (10) and multiplied by one-ninth (1/9) of the last completed contract. Retirement notification after December 15 for the current academic year will result in a reduction of $1,000.00 from the total under Article 36. In the event of a sudden severe illness of the teacher, teacher’s legally recognized spouse, and/or child, the transfer of a legally recognized spouse, or being called into active military duty may be cause for the District not to impose the late notification reduction of $1,000.00. A teacher who otherwise qualifies for payment under Article 36 and dies while currently classified as an active employee will receive such payment.

  • Developer Compensation for Emergency Services If, during an Emergency State, the Developer provides services at the request or direction of the NYISO or Connecting Transmission Owner, the Developer will be compensated for such services in accordance with the NYISO Services Tariff.

  • Education Allowance Provisions in existing Collective Agreements providing for educational allowances shall be continued in effect.

  • 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."

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Reporting of Total Compensation of Subrecipient Executives 1. Applicability and what to report. Unless you are exempt as provided in paragraph d. of this award term, for each first-tier subrecipient under this award, you shall report the names and total compensation of each of the subrecipient's five most highly compensated executives for the subrecipient's preceding completed fiscal year, if-- i. in the subrecipient's preceding fiscal year, the subrecipient received-- (A) 80 percent or more of its annual gross revenues from Federal procurement contracts (and subcontracts) and Federal financial assistance subject to the Transparency Act, as defined at 2 CFR 170.320 (and subawards); and (B) $25,000,000 or more in annual gross revenues from Federal procurement contracts (and subcontracts), and Federal financial assistance subject to the Transparency Act (and subawards); and ii. The public does not have access to information about the compensation of the executives through periodic reports filed under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or section 6104 of the Internal Revenue Code of 1986. (To determine if the public has access to the compensation information, see the U.S. Security and Exchange Commission total compensation filings at xxxx://xxx.xxx.xxx/answers/execomp.htm.) 2. Where and when to report. You must report subrecipient executive total compensation described in paragraph c.1. of this award term: i. To the recipient. ii. By the end of the month following the month during which you make the subaward. For example, if a subaward is obligated on any date during the month of October of a given year (i.e., between October 1 and 31), you must report any required compensation information of the subrecipient by November 30 of that year.

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