Retiring Employees Sample Clauses
The 'Retiring Employees' clause outlines the rights, obligations, and procedures related to employees who are leaving the organization due to retirement. It typically specifies eligibility criteria for retirement, notice requirements, and the benefits or compensation that retiring employees are entitled to receive, such as pension payouts or continued healthcare coverage. By clearly defining these terms, the clause ensures a smooth transition for both the employee and employer, minimizing disputes and providing clarity on post-employment entitlements.
Retiring Employees. 20.11.1. The District will pay, for employees hired prior to July 1, 1988, two and one-half (2.5) months' premium for each year of continuous service of a retiring employee towards the premium costs of coverage for the employee and eligible dependents under the District’s medical plan.
20.11.2. In the event the District adds additional optional insurance plans, the District’s share of the premium will be the same as for existing plans as set forth above. In the event the District changes underwriters for existing insurance plans, the District’s share of the premium will be the same as for existing insurance plans as set forth above.
20.11.3. The District will continue to implement the retiree medical health premium offset program wherein the cost of health premiums are offset by ten dollars ($10) per month for every full year of continuous service up to a maximum of 25 years or two hundred fifty dollars ($250) per month.
Retiring Employees. 20.9.1 The District shall pay, for employees hired prior to July 1, 1988, two and one-half (2.5) months' premium for each year of continuous service of a retiring employee towards the premium costs of coverage for the employee and eligible dependents under the District’s medical plan.
20.9.2 In the event the District adds additional optional insurance plans, the District's share of the premium shall be the same as for existing plans as set forth above. In the event the District changes underwriters for existing insurance plans, the District’s share of the premium shall be the same as for existing insurance plans as set forth above.
20.9.3 The District will continue to implement the retiree medical health premium offset program wherein the cost of health premiums are offset by $10 per month for every full year of continuous service up to a maximum of 25 years or $250 per month. Employees hired on or after August 1, 2011 shall not be eligible for the retiree medical health premium offset.
Retiring Employees. 15 Retirees shall receive reimbursement for unused leave under the following provisions:
16 a) The unit member is officially retiring.
17 b) The unit member is fifty-five (55) years or more of age.
18 c) The unit member has been employed by the BCOE for a minimum of five (5) years.
19 d) For each unused illness day beyond the first thirty (30), the unit member shall be paid 21 member shall have the option of being reimbursed or not being reimbursed, after a 22 member has been informed by PERS of the retirement allowance penalty for being 23 reimbursed.
Retiring Employees. In the last year of employment prior to retirement, 26 employees will be able to sell back up to fifty (50) hours of vacation. The employee will 27 be responsible to notify the County of intent to retire in order to exercise this 28 provision. This is a one-time option.
Retiring Employees. Employees approaching mandatory retirement may not be advanced sick leave in excess of the amount which they will earn prior to date of retirement.
Retiring Employees. Employees who give at least two weeks notice of resignation will receive a pay check for terminal vacation pay on the next payroll cycle following termination.
Retiring Employees. Each of the employees listed on Exhibit C shall have entered into a non-solicitation and non-compete agreement with, and on terms reasonably satisfactory to, Acquiror that shall be in full force and effect; and
Retiring Employees. Continue Board contribution to health and dental insurance for 30 days after retirement. Employees must notify the district if they utilize the district’s health and dental insurance beyond the thirty (30) days prior to retirement.
Retiring Employees. If an employee retires pursuant to the pension plan of the Employer, he/she shall upon retirement receive a prorated vacation.
Retiring Employees. 672 Retirees shall receive reimbursement for unused leave under the following provisions:
673 a. The unit member is officially retiring. 674 b. The unit member is fifty-five (55) years or more of age.