Retirement Life Sample Clauses

Retirement Life. The Board shall pay the premium to provide group term life insurance in the amount of $25,000 to age 65 for each administrator who retires within the provisions of the Michigan Public School Employees Retirement System (MPSERS). The life insurance is discontinued upon the insured reaching age 65.
Sample 1Sample 2
AutoNDA by SimpleDocs
Retirement Life. If the Assistant Superintendent retires from the school district within the provisions of the Michigan Public School Employees Retirement System (MPSERS), the Board will pay the premium to provide group term life insurance, until the Assistant Superintendent reaches the age of 70 years, in the following amounts:
Sample 1
Retirement Life. The Board shall pay the premium to provide group term life insurance in the amount of $25,000 to age 65 for each administrator who retires within the provisions of the Michigan Public School Employees Retirement System (MPSERS). The life insurance is discontinued upon the insured reaching age 65. ARTICLE 11A - ADMINISTRATIVE SALARY SCHEDULE 2012-2013 - Full Step and 1% on top of "off schedule" last year + 750 added to contract amount 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 High School Principal $119,262 $120,675 $122,087 $123,513 $124,940 $126,073 $127,206 $128,067 $128,928 $130,258 $133,557 International Academy Principal $119,262 $120,675 $122,087 $123,513 $124,940 $126,073 $127,206 $128,067 $128,928 $130,258 $133,557 Middle School Principal $107,529 $108,679 $109,829 $111,511 $113,193 $114,422 $115,652 $116,736 $117,820 $119,845 $123,692 Alt HS/Model HS Principal $107,529 $108,679 $109,829 $111,511 $113,193 $114,422 $115,652 $116,736 $117,820 $119,845 $123,692 Elementary Principal $101,835 $102,910 $103,984 $105,563 $107,141 $108,291 $109,441 $110,313 $111,185 $113,224 $116,987 High School Associate Principal $102,784 $104,027 $105,271 $106,494 $107,717 $108,812 $109,906 $110,842 $111,779 $112,986 $115,901 International Academy Assistant Principal $100,752 $101,967 $103,181 $104,375 $105,569 $106,636 $107,703 $108,616 $109,528 $110,706 $113,555 Middle School Associate Principal $98,720 $99,906 $101,091 $102,256 $103,420 $104,460 $105,501 $106,389 $107,278 $108,425 $111,210 Supervisor of Wing Lake Center $107,072 $108,409 $109,746 $111,144 $112,542 $113,590 $114,637 $115,395 $116,154 $117,883 $121,401 Supervisor of Deaf/Hard of Hearing $95,840 $96,873 $97,907 $98,596 $99,286 $100,319 $101,352 $102,386 $103,420 $104,454 $107,064 IBO Coordinator/Supervisor $90,883 $91,862 $92,841 $93,495 $94,149 $95,128 $96,108 $97,088 $98,068 $99,047 $101,522 Farm Manager $62,550 $63,587 $64,624 $66,014 $67,403 $68,791 $70,179 $71,564 $72,948 $74,619 $77,426 Nature Center Manager $62,550 $63,587 $64,624 $66,014 $67,403 $68,791 $70,179 $71,564 $72,948 $74,619 $77,426 2013-2014 - Full Step and 1% on top step only 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 High School Principal $119,262 $120,675 $122,087 $123,513 $124,940 $126,073 $127,206 $128,067 $128,928 $130,258 $134,892 International Academy Principal $119,262 $120,675 $122,087 $123,513 $124,940 $126,073 $127,206 $128,067 $128,928 $130,258 $134,892 Middle School Principal $107,529 $108,679 $109,829 $111,511 $113,193 $114,422 $115,652 $116...
Sample 1
Retirement Life. Insurance If you are eligible for early retirement (including by bridging), you will have post-retirement life coverage (at no cost to you) if you were covered under the IP life insurance plan for active employees on December 31, 1999, and you were age 50 or older on January 1, 2000. For all other employees, there is no post-retirement life coverage. Same Education Assistance IP will continue to reimburse you for eligible courses in which you were enrolled on or before your Last Day of Active Employment. Same Pg. 13 International Paper Company Salaried Severance Plan – Exhibit 1 Type of Benefit (if participating) WHAT YOU WILL RECEIVE IF YOU SIGN THE SEVERANCE AGREEMENT WHAT YOU WILL RECEIVE IF YOU DECLINE TO SIGN THE SEVERANCE AGREEMENT INCENTIVE COMPENSATION PLANS (Where applicable)
Sample 1
Retirement Life. Insurance If you are eligible for early retirement (including by bridging), you will have post-retirement life coverage (at no cost to you) if you were covered under the IP life insurance plan for active employees on December 31, 1999, and you were age 50 or older on January 1, 2000. For all other employees, there is no post-retirement life coverage. Same Education Assistance IP will continue to reimburse you for eligible courses in which you were enrolled on or before the last day of active employment Same International Paper Company Termination Agreement – Exhibit 1 – Revised 12/10/2015 Type of Benefit (if participating) WHAT YOU WILL RECEIVE IF YOU SIGN THE TERMINATION AGREEMENT WHAT YOU WILL RECEIVE IF YOU DECLINE TO SIGN THE TERMINATION AGREEMENT INCENTIVE COMPENSATION PLANS (Where applicable) Management Incentive Plan (MIP )7 Lump sum payment based on MIP target, prorated for the number of months of service in plan year. If you terminate after the end of the plan year, but before MIP payout, you will receive your full prior year award based on actual performance achievement, and your prorated target award for the year of your termination. Same, if you are retirement eligible. If you are not retirement eligible, you will forfeit your MIP award. No MIP award will be paid to you. 7 Participants in the Company’s Executive MIP will receive a prorated MIP award based on actual Company and individual performance, as required by Section 162(m) of the Internal Revenue Code. In addition, this summary applies only to severance situations. Please see the MIP plan document for payout information in other situations, such as retirement. International Paper Company Termination Agreement – Exhibit 1 – Revised 12/10/2015 Type of Benefit (if participating) WHAT YOU WILL RECEIVE IF YOU SIGN THE TERMINATION AGREEMENT WHAT YOU WILL RECEIVE IF YOU DECLINE TO SIGN THE TERMINATION AGREEMENT Performance Share Plan (PSP) Prorated shares, based on the number of months of active service during the three-year performance period, are paid at the end of the three-year performance period based on actual Company performance. Detailed account information is available at xxx.xxxxxxxx.xx.xxx with your User name and password. If you have not already done so, it is important that you open your Limited Individual Investor Account (LIIA) on the Xxxxxxx Xxxxx website prior to a PSP payout so that your shares can be deposited at the time of the PSP payout. Failure to open your LIIA could res...
Sample 1

Related to Retirement Life

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Retirement Retirement" shall mean voluntary termination by the Executive in accordance with the Employers' retirement policies, including early retirement, generally applicable to their salaried employees.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Disability; Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.1.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!