Common use of Retirement Restoration Clause in Contracts

Retirement Restoration. 160. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is was impacted by the wage reductions in Fiscal Years 2010-2011 or 2011-2012 described in Section III.A. of the parties’ 2010-2012 Agreement, 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 that 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. 160. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is was impacted by the wage reductions reduction in Fiscal Years 2010-2011 or 2011-2012 described in Section III.A. of the parties’ 2010-2012 Agreement, 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 that 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. 160. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is was impacted by the wage reductions reduction in Fiscal Years 2010-2011 or 2011-2012 described in Section III.A. of the parties’ 20102006-2012 Agreement, 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 that 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-reductionreduction or non-wage-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.

Retirement Restoration. 160291. For employees who retire prior to July 1, 2013 and whose final compensation for retirement purposes is was impacted by the wage reductions in Fiscal Years 2010-2011 or 2011-2012 reduction described in Section III.A. of the parties’ 2010-2012 AgreementIII.A, the City will make available restoration pay in a lump sum equivalent to the pensionable value of the wage reduction or wage increase deferral described in Section III.A. of this that 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-reductionreduction or non-wage- 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.