Retirement Plan. The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.
Retirement Plan. Employee shall participate, after meeting eligibility requirements, in any qualified retirement plans and/or welfare plans maintained by the Company during the term of this Agreement.
Retirement Plan. The Medical Center shall continue to offer all eligible nurses a retirement plan which offers a level of benefits substantially equivalent to the current plan and consists of a non-contributory Base Plan, matching contributions from the Medical Center, and a tax sheltered annuity plan.
Retirement Plan. 1. The District agrees to maintain and continue the retirement plan for all employees in accordance with the provisions of the State Educational Retirement Act.
Retirement Plan. The employees covered by this agreement shall be eligible to participate in the Professional Support Staff Retirement Plan for the term of this agreement, in accordance with its terms. Employees hired after March 4, 2007 shall become member of the defined contribution plan. Employees covered by this agreement, hired prior to March 4, 2007 however, shall be entitled to receive an early retirement (or deferred vested) benefit at age fifty-five (55), with the appropriate early retirement monthly reduction as described in the plan. In connection with this agreement:
1. The plan shall be amended to provide that the early (and deferred vested) retirement monthly reduction as described in the plan applicable to the portion of the employee’s benefit attributable to Benefit Service earned under the plan after February 1, 2004 and before the end of the term of this agreement shall be zero;
2. The employees covered by this agreement shall contribute the percentage of their pay (calculated before reduction by the contribution) determined by the plan’s actuary from time to time (with each amount as calculated payable from each June 1 to the following May 31) to the plan as an employee contribution, beginning February 1, 2004 and continuing for the term of this agreement;
3. The University shall “pick-up” that contribution in accordance with Section 414(h)(2) of the Internal Revenue Code;
4. Notwithstanding 3., above, and Appendix A, the University shall reduce each employee’s pay by a corresponding amount; and
5. The plan shall also be amended to provide for a refund of the contributions described above, without interest, in the event no other benefits are payable under the plan on death or termination of employment. In accordance with Section 414(h)(2) of the Code, this contribution will be treated as an employer contribution for federal income tax purposes and will be taken into account as “wages” for purposes of FICA. The contribution is being paid by the University in lieu of contributions by the employees, and no employee has the opportunity to receive the contributed amounts directly. To the extent permitted by law, however, the picked-up contribution shall be treated as wages for all other purposes, such as for overtime pay, calculating benefits under the plan, state taxes, calculation of Senior Officer Pay under Appendix A, cost-of-living increases (if any) and salary increases, and full pay in Appendix A shall be used for these purposes. As noted above, the co...
Retirement Plan. The purpose of this Article is to designate the retirement benefits that will be made available under the Monroe County Employee’s Retirement System Ordinance (“Retirement System”). Notwithstanding anything to the contrary herein, a member’s accrued benefit earned as of December 31, 2013 (i.e. a frozen accrued benefit that is calculated based on final average compensation, years of credited service, the applicable multiplier and other relevant provisions in effect as of December, 2013), is not intended to be diminished or impaired by the changes set forth below. The changes set forth below shall apply with respect to accrued benefits earned under this Article and the Retirement System on or after January 1, 2014. Subject to the terms and conditions set forth in the Retirement System and hereinunder, employees shall be eligible for normal retirement with pension amounts as follows:
Retirement Plan. The teacher’s age is determined as of December 31st in the calendar year the teacher’s final contract expires. The vendor for said 401(a) Retirement Plan shall be selected by mutual agreement of the ETA and the Board. The 401(a) Retirement Plan’s terms and conditions for administration of the 401(a) Retirement Plan shall be as follows:
Retirement Plan. Until such time the teacher has properly retired from employment with Elkhart Community Schools by having given a written notice accepted by the employer, and actually retiring from employment, the teacher shall have no access to the assets held in his or her separate 401(a) Retirement Plan account.
Retirement Plan. The Employer will provide a retirement plan for its nurses. Retirement benefits and eligibility requirements for participation shall be defined by the Employer’s plan. The plan documents related to the Retirement Benefits are hereby incorporated by reference and considered a part of this Agreement.
Retirement Plan. The Employer will provide a retirement plan for its employees. Eligibility requirements for participation including eligible hours and contribution rates shall be defined by the Employer's plan document.
