Common use of Retirement Restoration Clause in Contracts

Retirement Restoration. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is impacted by the wage reduction described in Section III.A., the City will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction described in Section III.A. of this Agreement for the period used by the applicable retirement system to determine the employee's final compensation for retirement purposes (Final Compensation Period). For employees who retire prior to July 1, 2012, post- retirement payouts of vacation and vested sick leave will be made at the employee’s normal (pre-reduction) hourly rate, although nothing herein requires the San Francisco Employees Retirement System, or any applicable retirement system, to include payouts of vacation or vested sick leave in retirement calculations.

Retirement Restoration. 162. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is impacted by the wage reduction reductions described in Section III.A., the City will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction described in Section III.A. of this Agreement for the period used by the applicable retirement system to determine the employee's final compensation for retirement purposes (Final Compensation Period). For employees who retire prior to July 1, 2012, post- retirement payouts of vacation and vested sick leave will be made at the employee’s normal (pre-reduction) hourly rate, although nothing herein requires the San Francisco Employees Retirement System, or any applicable retirement system, to include payouts of vacation or vested sick leave in retirement calculations.

Retirement Restoration. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is impacted by the wage reduction deferrals described in Section III.A.paragraph 271, the City will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction increase deferral described in Section III.A. of this Agreement paragraph 271 for the period used by the applicable retirement system to determine the employee's final compensation for retirement purposes (Final Compensation Period). For employees who retire prior to July 1, 2012, post- retirement payouts of vacation and vested sick leave will be made at the employee’s normal (prenon-reductionwage-deferred) hourly rate, although nothing herein requires the San Francisco Employees Retirement System, or any applicable retirement system, to include payouts of vacation or vested sick leave in retirement calculations.