- Rules and Eligibility Requirements Sample Clauses

- Rules and Eligibility Requirements. A. This is a voluntary program offered to eligible LEOFF Plan 2 employees. Such employees must meet all eligibility requirements to be approved for the retirement incentive program, and the City retains the ability to make the final eligibility decisions. B. This voluntary retirement program does not include a direct cash payment. Instead, it consists of payments made into approved retirees’ VEBA accounts of five hundred dollars ($500.00) per month until the earlier of the month when the employee reaches age sixty- five (65) or Medicare eligibility. These payments will be subject to all rules and laws applicable to the retirees’ VEBA accounts. C. If the retiree passes away before Medicare eligibility or age sixty-five (65), the VEBA contribution will terminate. The retiree’s beneficiary (spouse or qualified dependent) will be eligible to continue to utilize this program until the funds in the deceased retiree’s account are exhausted. In the event there is no beneficiary, the remaining funds will be equally distributed among current VEBA participants within this program. D. The intent of this voluntary retirement program is for service retirement only. Employees who are receiving long term disability, (L&I) or are on medical layoff/retirement are disqualified from receiving this incentive. If at any time during the retirement program payment term a recipient begins receiving L&I the incentives under this program will cease. E. An employee applying for the voluntary retirement program must be eligible to retire under the LEOFF Plan 2 and must not have already filed for retirement prior to the announcement of the program. Additionally, if an employee applies but does not retire by the established retirement deadline, the employee will not be eligible for the program in any future year. For the purpose of clarifying the parties’ understanding regarding this section, any application for a voluntary retirement benefit made prior to the effective date of this Agreement will not render any bargaining unit member ineligible for this program. F. Employees approved for the retirement program will not be placed on the City’s layoff registers and are not eligible for rehire as a regular, benefited, permanent employee. G. Employees approved for the retirement program agree not to file for unemployment benefits due to separation of employment from the City.

- Rules and Eligibility Requirements. This is a voluntary incentive program offered to eligible LEOFF Plan 2 employees. Such employees must meet all eligibility requirements to be approved for the retirement incentive program, and the City retains the ability to make the final eligibility decisions.

- Rules and Eligibility Requirements. A. This is a voluntary program offered to eligible LEOFF Plan 2 employees. Such employees must meet all eligibility requirements to be approved for the retirement incentive program, and the City retains the ability to make the final eligibility decisions. B. This voluntary retirement program does not include a direct cash payment. Instead, it consists of payments made into approved retirees’ VEBA accounts until the earlier of the month when the employee reaches age sixty-five (65) or Medicare eligibility. These payments will be subject to all rules and laws applicable to the retirees’ VEBA accounts.

- Rules and Eligibility Requirements. A. This is a voluntary program offered to eligible LEOFF Plan 2 employees. Such employees must meet all eligibility requirements to be approved for the retirement program, and the City retains the ability to make the final eligibility decisions. B. This voluntary retirement program does not include a direct cash payment. Instead, it consists of payments made into approved retirees’ VEBA accounts until the earlier of the month when the employee reaches age sixty-five (65) or Medicare eligibility. These payments will be subject to all rules and laws applicable to the retirees’ VEBA accounts. C. If the retiree passes away before Medicare eligibility or age sixty-five (65), the VEBA contribution will terminate. The retiree’s beneficiary (spouse or qualified dependent) will be eligible to continue to utilize this program until the funds in the deceased retiree’s account are exhausted. In the event there is no beneficiary, the remaining funds will be equally distributed among current VEBA participants within the program. D. Employees approved for this program and separating from service due to a disability retirement must meet the age and other requirements in paragraph J below.