RULE OF. 75 In recognition of employees who have age and service equal to or greater than seventy-five, the “Rule of 75” has been created as an aid towards retirement. A list of employees whose combination of age plus house seniority is equal to or greater than 75, at December 31 each year, will be prepared by Human Resources. Based on operational capability of the department to allow a certain number of employees to be approved in descending order of posted classification seniority, the eligible employees may identify their desire to work 3 or 4 days or such other reduced schedule as may be reasonably agreed. Approved employees will continue to maintain full-time status, but will not be scheduled or entitled to hours beyond those agreed. Approved employees’ benefits will be based on the calculation of hours paid. Where arrangements cannot be made to implement the Rule of 75 in a department, discussion shall occur between the Union and the Employer as soon as possible. In any event, this provision shall not constitute super-seniority. Employees who have been approved for the Rule of 75 must re-apply by December of each year and may only review and revise their participation in December of each year.
RULE OF. (insert number). The Participant's combined Total Credited Service and age must equal or exceed this number. Please complete additional items below: To qualify for this alternative normal retirement benefit, the Participant (check one or more items below, as applicable): Must have attained at least age (insert number) Must not satisfy any minimum age requirement In-Service Distribution to Eligible Employees permitted (i.e., a qualifying Participant may commence receiving retirement benefits while in service without first incurring a Bona Fide Separation from Service), if the Participant meets the minimum age and service requirements specified immediately above and satisfies the minimum age parameters for In-Service Distribution described in Section 6.06(a)(3) of the Basic Plan Document, subject to applicable Plan provisions concerning recalculation and offset applied at re-retirement to account for the value of benefits received prior to re-retirement. This rule shall apply to (check one): all Participants only the following class(es) of Participants (must specify - specific positions are permissible; specific individuals may not be named): . This alternative normal retirement benefit is available to: All Participants who qualify. Only the following Participants (must specify - specific positions are permissible; specific individuals may not be named): . A Participant (check one): is required is not required to be in the service of the Employer at the time the Participant satisfies the Rule in order to qualify for this alternative normal retirement benefit. Other eligibility requirement (must specify in a manner that satisfies the definite written program requirement of Treasury Regulation 1.401-1(a)(2) and the definitely determinable requirement of Treasury Regulation 1.401-1(b)(1)(i)): .
RULE OF. 85 Program. The Employer shall contribute on behalf of the Package Car Drivers, Feeder Drivers, and Tractor Trailer Drivers only, a surcharge of twenty percent (20%) of the contribution rate otherwise owed in accordance with Section 11.01 per compensable hour into the Alaska Teamster-Employer Pension Trust for the purpose of providing and funding the adoption of the Rule of 85 Program. Under the terms of the Rule of 85 Program, the Employer is required to pay this additional surcharge into the Alas- ka Teamster-Employer Pension Trust, and once enacted, it may not be reduced nor eliminated.
RULE OF. EffectiveJuly any member who on the date of retirement is represented by the Power Workers Union may, on or after !he first day of the month in which the sum of the member's age in years and years of continuous employment is equal to or greater than eighty two receive a pension that is percent of the member's earned pension computed in accordance with the rules of the pension plan, in particular, rule Employees who do not qualify for an unreduced early retirement pension under (e) or (e) may retire without discount after completing years of continuous service. greater.
