Common use of Retirement Preparation Clause in Contracts

Retirement Preparation. 8.11.1 In order to allow an employee nearing retirement age to prepare for retirement, and with the approval of the appropriate Vice President, an employee shall be granted a leave or leaves of absence of between 3 and 12 consecutive months providing the following qualifications are met: a) The employee has been a regular employee for a minimum of 5 years; b) The employee is at least 50 years old; c) The employee should be on the maximum salary step, or have 10 years of service; and d) An appropriately qualified replacement employee, if required, is available. The ultimate replacement employee shall be identified and, wherever possible, be at the minimum step of the salary schedule. 8.11.2 A maximum of 20 employees shall be granted retirement preparation leave per fiscal year. The procedure for application and allocation shall be as follows: 8.11.2.1 Employees shall submit written applications for retirement preparation leave not later than December 31 for the following fiscal year. 8.11.2.2 Should the total number of leaves applied for under Article 8.11.1 exceed the maximum specified in Article 8.11.2, allocation of the 20 retirement preparation leaves shall be on the basis of seniority. 8.11.2.3 Should the maximum allowable number of leaves (20) not be reached through the process outlined above, further retirement preparation leaves shall be granted during the fiscal year in which the leave(s) is to commence, provided the employee submits a written application for the leave a minimum of 3 months prior to the commencement of the leave. Such leaves shall be granted on a first-come, first-served basis. 8.11.2.4 Eligible employees may take this leave at either 50% or 100% of full-time to a maximum of one year. Alternate time status leaves over 50% may be available subject to the scheduling requirements of the department or area. 8.11.3 Retirement preparation leave shall be unpaid, but shall carry with it the following benefits: • Medical, Extended Health, Dental and Group Life benefits; • Provided the employee elects to purchase the period of leave for pension purposes and is given permission to do so by the Pension Corporation, the College shall pay its share of pension contributions for the period of leave being purchased; • A stipend of $1,000 per month for full-time employees and pro-rata for part-time employees and employees on part-time leave; and • Employees taking retirement preparation leave may opt for the continuance of Short-term and Long-term Disability by payment of the necessary premiums.

Retirement Preparation. 8.11.1 In order to allow an employee nearing retirement age to prepare for retirement, and with the approval of the appropriate Vice President, an employee shall be granted a leave or leaves of absence of between 3 and 12 consecutive months providing the following qualifications are met: a) The employee has been a regular employee for a minimum of 5 years; b) The employee is at least 50 years old; c) The employee should be on the maximum salary step, or have 10 years of service; and d) An appropriately qualified replacement employee, if required, is available. The ultimate replacement employee shall be identified and, wherever possible, be at the minimum step of the salary schedule. 8.11.2 A maximum of 20 employees shall be granted retirement preparation leave per fiscal year. The procedure for application and allocation shall be as follows: 8.11.2.1 Employees shall submit written applications for retirement preparation leave not later than December 31 for the following fiscal year. 8.11.2.2 Should the total number of leaves applied for under Article 8.11.1 exceed the maximum specified in Article 8.11.2, allocation of the 20 retirement preparation leaves shall be on the basis of seniority. 8.11.2.3 Should the maximum allowable number of leaves (20) not be reached through the process outlined above, further retirement preparation leaves shall be granted during the fiscal year in which the leave(s) is to commence, provided the employee submits a written application for the leave a minimum of 3 months prior to the commencement of the leave. Such leaves shall be granted on a first-come, first-served basis. 8.11.2.4 Eligible employees may take this leave at either 50% or 100% of full-time to a maximum of one year. Alternate time status leaves over 50% may be available subject to the scheduling requirements of the department or area. 8.11.3 Retirement preparation leave shall be unpaid, but shall carry with it the following benefits: • Medical, Extended Health, Dental and Group Life benefits; • Provided the employee elects to purchase the period of leave for pension purposes and is given permission to do so by the Pension Corporation, the College shall pay its share of pension contributions for the period of leave being purchased; • A stipend of $1,000 per month for full-time employees and pro-rata for part-time employees and employees on part-time leave; and • Employees taking retirement preparation leave may opt for the continuance of Short-term and Long-term Disability by payment of the necessary premiums.

Retirement Preparation. 8.11.1 In order to allow an employee nearing retirement age to prepare for retirement, and with the approval of the appropriate Vice President, an employee shall be granted a leave or leaves of absence of between 3 and 12 consecutive months providing the following qualifications are met: a) The employee has been a regular employee for a minimum of 5 years; b) The employee is at least 50 years old; c) The employee should be on the maximum salary step, or have 10 years of service; and d) An appropriately qualified replacement employee, if required, is available. The ultimate replacement employee shall be identified and, wherever possible, be at the minimum step of the salary schedule. 8.11.2 A maximum of 20 employees shall be granted retirement preparation leave per fiscal year. The procedure for application and allocation shall be as follows: 8.11.2.1 Employees shall submit written applications for retirement preparation leave not later than December 31 for the following fiscal year. 8.11.2.2 Should the total number of leaves applied for under Article 8.11.1 exceed the maximum specified in Article 8.11.2, allocation of the 20 retirement preparation leaves shall be on the basis of seniority. 8.11.2.3 Should the maximum allowable number of leaves (20) not be reached through the process outlined above, further retirement preparation leaves shall be granted during the fiscal year in which the leave(s) is to commence, provided the employee submits a written application for the leave a minimum of 3 months prior to the commencement of the leave. Such leaves shall be granted on a first-come, first-served basis. 8.11.2.4 Eligible employees may take this leave at either 50% or 100% of full-time to a maximum of one year. Alternate time status leaves over 50% may be available subject to the scheduling requirements of the department or area. 8.11.3 Retirement preparation leave shall be unpaid, but shall carry with it the following benefits: •  Medical, Extended Health, Dental and Group Life benefits; •  Provided the employee elects to purchase the period of leave for pension purposes and is given permission to do so by the Pension Corporation, the College shall pay its share of pension contributions for the period of leave being purchased; •  A stipend of $1,000 per month for full-time employees and pro-rata for part-time employees and employees on part-time leave; and •  Employees taking retirement preparation leave may opt for the continuance of Short-term and Long-term Disability by payment of the necessary premiums.

Retirement Preparation. 8.11.1 In order to allow an employee nearing retirement age to prepare for retirement, and with the approval of the appropriate Vice President, an employee shall be granted a leave or leaves of absence of between 3 and 12 consecutive months providing the following qualifications are met: a) The employee has been a regular employee for a minimum of 5 years; b) The employee is at least 50 years old; c) The employee should be on the maximum salary steprange, or have 10 years of service; and. d) An appropriately qualified replacement employee, if required, is available. The ultimate replacement employee shall be identified and, wherever possible, be at the minimum step of the salary schedule. 8.11.2 A maximum of 20 employees shall be granted retirement preparation leave per fiscal year. The procedure for application and allocation shall be as follows: 8.11.2.1 Employees shall submit written applications for retirement preparation leave not later than December 31 for the following fiscal year. 8.11.2.2 Should the total number of leaves applied for under Article 8.11.1 exceed the maximum specified in Article 8.11.2, allocation of the 20 retirement preparation leaves shall be on the basis of seniority. 8.11.2.3 Should the maximum allowable number of leaves (20) not be reached through the process outlined above, further retirement preparation leaves shall be granted during the fiscal year in which the leave(s) is to commence, provided the employee submits a written application for the leave a minimum of 3 months prior to the commencement of the leave. Such leaves shall be granted on a first-come, first-served basis. 8.11.2.4 Eligible employees may take this leave at either 50% or 100% of full-time to a maximum of one year. Alternate time status leaves over 50% may be available subject to the scheduling requirements of the department or area. 8.11.3 Retirement preparation leave shall be unpaid, but shall carry with it the following benefits: • Medical, Extended Health, Dental and Group Life and Dental insurance benefits; • Provided the employee elects to purchase the period of leave for pension purposes and is given permission to do so by the Pension Corporation, the College shall pay its share of pension contributions for the period of leave being purchased; • A stipend of $1,000 per month for full-time employees and pro-rata for part-time employees and employees on part-time leave; and • Employees taking retirement preparation leave may opt for the continuance of Short-term and Long-term Disability by payment of the necessary premiums.