Retirement Leave Bank Sample Clauses

Retirement Leave Bank. 7.1 Retirement leave banks w ill be maintained for employees w ho w ere members of the bargaining unit as of August 25, 2011 and w ho remained members ever since. Retirement leave banks w ill have a cap of 2080 hours. Employees w ho had more than 2080 hours in their retirement leave bank as of March 31, 2011 w ill be allow ed to keep these hours in their bank. Members joining the bargaining unit after August 25, 2011 w ill not be entitled to a Retirement Leave Bank. Employees w ith retirement leave banks w ill have a once annual option of transf erring any or all lieu t ime bank hours into their retirement leave bank up to the cap of 2080 hours. This election w ill occur once annually in January of each year. It is underst ood that the retirement leave bank cap cannot be exceeded. It is underst ood that this once annual election is the only method of putting hours into the retirement leave banks. Once an employee’ s retirement leave bank has reached the cap of 2080 hours no further election w ill be offered.
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Retirement Leave Bank. Retirement leave banks will be maintained for employees who were members of the bargaining unit as of August 25, 201 1 and who rerr1ained merr1bers ever since. Retirement leave banks will have a cap of 2080 hours. Employees who had more than 2080 hours in their retirement leave bank as of March 31 , 201 1 will be allowed to keep these hours in their bank. Members joining the bargaining unit after August 2 5, 201 1 will not be entitled to a Retirement Leave bank. Employees with retirement leave banks will have a once annual option of transferring any or all lieu time bank hours into their retirement leave bank up to the cap of 2080 hours. This election will occur once annually in January of each year. It is understood that the retirement leave bank cap cannot be exceeded. It is understood that this once annual election is the only method of putting hours into the retirement leave banks. Once an employee's retirement leave bank has reached the cap of 2080 hours no further election will be offered.
Sample 1
Retirement Leave Bank. 1.6.1 Retirement leave banks will be maintained for employees who were members of the bargaining unit as of August 25, 2011 and who remained members even since. Retirement leave banks will have a cap of 2080 hours. Employees who had more than 2080 hours in their retirement leave bank as of March 31, 2011 will be allowed to keep these hours in their bank. Members joining the bargaining unit after August 25, 2011 will not be entitled to a Retirement Leave bank. Employees with retirement leave banks will have a once annual option of transferring any or all lieu time bank hours into their retirement leave bank up to the cap of 2080 hours. This election will occur once annually in January of each year. It is understood that the retirement leave bank cap cannot be exceeded. It is understood that this once annual election is the only method of putting hours into the retirement leave banks. Once an employee’s retirement leave bank has reached the cap of 2080 hours no further election will be offered.
Sample 1

Related to Retirement Leave Bank

  • Retirement Leave (a) Full-time nurses who:

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Cyclic Employment Leave Leave without pay will be granted to cyclic year employees during their off season.

  • 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.

  • RETIREMENT PICK-UP 257. For the term of this Agreement, the CITY shall pick up the full amount of the employees’ contribution to retirement.

  • Management Leave In lieu of overtime, executive management employees receive 100 hours of management leave during each full fiscal year of service to the City. Management leave must be used in the year it is earned and cannot be carried over to succeeding fiscal years. During the first pay period in July each year, management leave hours will be credited to the eligible employee's management leave account or other designated leave bank. The City will "cash out" one quarter (1/4) of the employee’s unused management leave balance remaining on the last day of the last full pay period in June of each year and convert it to reportable compensation by paying the employee his/her hourly, regular rate of pay in effect at the time of the cash out. A management employee newly hired into the organization shall not be eligible to receive management leave during the probation period. Managers appointed from within the organization are immediately eligible to receive management leave. Management leave credited to the leave account of a new employee completing probation and all other eligible management employees shall be prorated at the rate of 3.85 hours for each full pay period remaining in the current fiscal year. Conversely, a manager leaving the organization prior to the end of a fiscal year shall return back to the City 3.85 hours of management leave for each full pay period remaining at the time of separation in his/her final fiscal year of employment with the City. In the event that the employee, at the time of separation from the City, has a zero balance in his/her management leave bank a deduction for management leave time owed the City shall be made, in the following order: from the employee's accrued vacation leave bank; accrued sick leave bank; and/or as an equivalent hour-for-hour cash reimbursement to the City from the employee's final payroll disbursement.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Group Registered Retirement Savings Plan 9.9.1 The College agrees to implement a group Registered Retirement Savings Plan for participation by employees. For regular employees who wish to participate in the Plan, the College agrees to contribute the total amount of the annual contribution by the fifteenth of the first month of the Benefit Year. The employee shall repay that contribution through payroll deduction in equal instalments throughout the Benefit Year.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

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