RETIREMENT PHASE IN Sample Clauses

RETIREMENT PHASE IN. (i) An employee may request to work up to half time subject to approval by the Company. Entitlement to this provision shall be dependent on the following age and service formula: Service: 15 years Age: 50 years The minimum period shall be one year. The work/leave of absence arrangement shall be as mutually agreed between the employee and the Company. The intent of this clause is for retirement phase in, not alternate employment. It is understood, subject to seniority and where operationally feasible, an employee will maintain his position/vessel.
Sample 1
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RETIREMENT PHASE IN i) An employee may request to work up to half time subject to approval by the Company. Entitlement to this provision shall be dependent on the following age and service formula:
Sample 1
RETIREMENT PHASE IN. It is agreed and understood that the provisions of the Collective Agreement shall apply to those employees who elect to participate in this retirement phase-in program, except as modified by the following:
Sample 1
RETIREMENT PHASE IN. Amend to read as follows: An employee may request to work up to half time subject to approval by the Company. Entitlement to this provision shall be dependent on the following age and service formula: Service: years Age: years The minimum period shall be one year. The of absence arrangement shall be as mutually agreed between the employee and the Company. The intent of this clause is for retirement phase in, not alternate employment. Such employee shall only accrue further seniority and service for actual days worked and corresponding leave. Pension contributions shall be maintained as per Article The applicable Benefit Plan premiums shall be paid by the Company and the employee on a basis each month and will continue to be paid until this half time arrangement is ended. Weekly Indemnity and Long Term Disability Benefits will be paid at the rate of of the applicable benefit entitlement and the other benefits at the full entitlement.
Sample 1

Related to RETIREMENT PHASE IN

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

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • 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.

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one) ☐ - DO NOT have retirement plans. ☐ - HAVE retirement plans. The Couple has the following retirement plans: (“Retirement Plans”). Upon signing this Agreement, the Retirement Plans shall be owned by: (check one) ☐ - Husband ☐ - Wife ☐ - Both Spouses ☐ - Other. .

  • 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.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

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

  • Basic Benefit Effective January 1, 2008, the basic life insurance benefit will be increased from $15,000 to $18,000 for employees. This shall be the default level of life insurance coverage, which shall be provided at no cost to the employee.

  • 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.

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