Retirement Transition. 6.1. A bargaining unit member wishing to transition to retirement status may apply to do so under following conditions: • attains age 59 1/2 or older • be a participant in the USNH approved retirement plan for at least 10 years • not be participating in a USNH early retirement program • not be on long-term disability or worker’s compensation
6.2. The reduced appointment may normally be between 80% and 50%, but not less than 50%, and may be selected for a period of up to three years. The bargaining unit member’s salary base will be pro-rated based on the percent time of employment.
6.3. Participating staff will be eligible to continue their existing USNH group medical and dental coverage at the same cost sharing arrangement as a full-time bargaining unit member until full retirement. However, life insurance, long-term disability insurance, and retirement contributions will be based on the pro-rated salary. Tuition benefits and paid leave time are based on the reduced appointment percentage.
6.4. The supervisor shall make the bargaining unit member’s workload assignments based on the reduced time appointment. The bargaining unit member will not be permitted to work for the USNH in a status position more than three (3) years after the effective date of reduced time status associated with the transition to retirement. During this period of service, the individual agrees that they cannot increase the percent time worked. After completion of the transition period, the individual agrees to fully retire. The bargaining unit member may collect their retirement income (TIAA/CREF, Fidelity) while continuing to be employed in the reduced time status position.
Retirement Transition. Employees who have stated an intention to retire from the workforce within 2 years are able to participate in a retirement transition arrangement. Financial assistance of up to $500 will be provided for access to retirement seminars and/or superannuation and financial advice. Transition arrangements may vary between individuals as both individual and operational needs are considered but may include access to part-time work (refer clause 26 for part-time provisions) and/ or changes in work level or responsibilities by agreement. Part-time work will be subject the Commission’s Workplace Flexibility Guidelines and Part-Time Work Policy.
Retirement Transition. For years of service provided by the Executive and Transition Services, described below, the Company will pay Executive a total of Four Hundred Thousand Dollars ($400,000.00), less applicable withholdings (“Retirement & Transition Payment”), in 2 equal payments, the first no later than February 15, 2020 and the second no later than March 31, 2020.
Retirement Transition. Definition: employee continues to contribute to the Local Authorities Pension Plan during the transition period Criteria:
i) An employee can reduce their hours of work to a minimum of 17.5 hours per week.
ii) General overview of hours of work and/or phased reduction in hours of work over the transition period must be included in the retirement plan as outlined in Article 38.2.
iii) Subject to the provisions of the Local Authorities Pension Plan, the phased pre‐retirement transition period can be considered as pensionable service under the Plan and, if so, the employer and the employee shall make the appropriate contributions calculated on the basis of the unreduced salary rate.
iv) During the period of reduced hours of work, the full employer’s share of required premium contributions will continue for the benefits plans (Extended Health, Dental, Health Spending Account, EFAP) for benefit‐ eligible positions as if the employee were on full pay.
Retirement Transition. Definition: employee no longer contributes to the Local Authorities Pension Plan during the transition period and can apply for pension payments.
Retirement Transition. A faculty member who participates in the Transition Program will be eligible to carry a zero workload for either the fall or spring academic semester each academic year for a maximum of three (3) academic years: For purposes of the Transition to Retirement Program, the summer semester will not be included. The Xxxx shall be responsible for assigning workload; the faculty member shall be assigned a full workload that is both reasonable and fair for the semester in which they they work. The Xxxx shall have discretion over the faculty member’s continued participation on committees.
Retirement Transition. You shall continue to serve as the Company’s Chief Financial Officer and Treasurer and have the duties associated with such positions until March 30, 2012 (the “CFO Resignation Date”). Beginning on the CFO Resignation Date and continuing through the Departure Date, you shall continue to serve as an employee of the Company and hold the title of Vice President, Finance of the Company. During the period from the CFO Resignation Date until the Departure Date, you shall provide assistance to your successor and others as may be reasonably requested by the Company. As of the Departure Date, you shall retire and terminate your employment from the Company and, by executing this letter agreement, you hereby confirm (i) your resignation as Chief Financial Officer and Treasurer of the Company, and as an officer and director of the Company and each of its subsidiaries as may be applicable, effective as of the CFO Resignation Date, and (ii) your resignation as Vice President, Finance of the Company effective as of the Departure Date.
Retirement Transition. 13.3.1 Faculty accepted for retirement will be expected to work with their department and the college to ensure that the department and College are well-prepared to continue to meet students’ educational needs after the faculty member’s retirement. The nature of this transition work will be determined by the retiring faculty member in consultation with the Vice President of Academic Affairs.
13.3.2 Faculty members accepted for retirement shall receive annual raises in their base salary, commencing in the year following their acceptance into the retirement program, as established below for the remaining years of work performed. 50 to 60 5.99% 61 5.75% 62 5.50% 63 5.25%
Retirement Transition. Subject to Section 2 below, the Company and Employee agree that Employee shall continue to be employed in the capacity and time periods set forth below to aid in the transition of her responsibilities leading up to her retirement.
Retirement Transition. Executive has decided to retire, and Executive and Employer have agreed on the following transition plan: Executive hereby retires, effective as of August 19, 2015 (the “Director/Officer Retirement Date”), from all directorships and officer positions that Executive holds with Employer, with YUM! Brands, Inc. (“Yum”) and with any of their respective subsidiaries, parents, business units or affiliates (collectively, “Affiliates”), excluding Executive’s position as a director of Yum. As a result, all of Executive’s directorships and officer positions with Employer, Yum and all of their respective Affiliates (other than his position as director of Yum) will terminate on the Director/Officer Retirement Date and Executive agrees to take such actions as Employer, Yum or any of their respective Affiliates may request to reflect Executive’s resignation from such positions. Executive will continue to be employed by Employer up to and including February 15, 2016, or such other date as may be agreed by the Parties in writing, which date shall be Executive’s last day of employment (the “Retirement Date”). From the date of this Retirement Agreement and General Release until the Retirement Date, Executive’s duties will be as assigned by Employer and Yum, but will be primarily to assist Micky Pant in a smooth transition to becoming the Chief Executive Officer of Yum! China Division. As of the Retirement Date, Executive’s employment with Employer, and all other positions which Executive holds with Employer, Yum and all of their respective Affiliates, including directorships and officer positions, other than as a director of Yum, that have not terminated sooner, will terminate, and to the extent requested to do so, Executive agrees to resign from any and all positions with Employer, Yum or any of their respective Affiliates (other than as a director of Yum) effective on the date requested but no later than the Retirement Date.
