SAFETY RETIREMENT TIER 2 Sample Clauses

SAFETY RETIREMENT TIER 2 a. All employees hired on or after January 2, 2000, into Safety Retirement designated classes shall be placed into Safety Retirement Tier 2. This new Safety Retirement Tier, Tier 2, shall have a post-retirement cost-of-living adjustment factor pursuant to Government Code Section 31870 to a maximum annual 2% cost-of-living adjustment and a final compensation calculated on the basis of three (3) years pursuant to Government Code Section 31462. b. Employees who are members of the Sacramento County Employees’ Retirement System and who are granted a non-service connected disability retirement shall have benefits for non-service connected disability computed as prescribed by Section 31727.7 of the County Employees’ Retirement Law of 1937.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
SAFETY RETIREMENT TIER 2 a. All employees hired on or after January 2, 2000, into Safety Retirement designated classes, shall be placed into Safety Retirement Tier 2. This new Safety Retirement Tier, Tier 2, shall have a post-retirement cost-of-living adjustment factor pursuant to Government Code Section 31870 to a maximum annual 2% cost-of-living adjustment and a final compensation calculated on the basis of three (3) years pursuant to Government Code Section 31462. b. Employees hired into the class of Park Ranger I on or after the pay period of approval of the total tentative agreement by the Board of Supervisors, shall be placed into Miscellaneous Retirement Tier 3, until State legislation has been approved for Safety Retirement eligibility. c. Employees who are members of the Sacramento County Employees’ Retirement System and who are granted a non-service connected disability retirement shall have benefits for non-service connected disability computed as prescribed by Section 31727.7 of the County Employees’ Retirement Law of 1937.
Sample 1Sample 2
SAFETY RETIREMENT TIER 2 a. Safety Retirement Tier, Tier 2, shall have a post-retirement cost-of-living adjustment factor pursuant to Government Code Section 31870 to a maximum annual 2% cost-of-living adjustment and a final compensation calculated on the basis of three
Sample 1Sample 2
SAFETY RETIREMENT TIER 2 a. Effective the pay period beginning June 17, 2001, the County shall establish a new safety retirement tier. This new safety retirement tier, Tier 2, shall have a post-retirement cost-of-living adjustment factor pursuant to Government Code Section 31870 to a maximum annual 2% per year and a final compensation calculated on the basis of three years pursuant to Government Code Section 31462. In all other aspects, Tier 2 safety shall be identical to Tier 1 safety. b. This new safety retirement Tier 2 shall not apply to employees hired prior to the effective date of this section as mentioned above in Subsection 11.2-a., with a SCERS entry date prior to the above-mentioned date. c. All eligible employees hired on or after the effective date mentioned in 11.2-a. shall be placed into Safety Retirement Tier 2. d. Employees in both Safety Retirement Tier 1 and Tier 2 shall have the benefits for non-service connected disability computed as prescribed by Section 31727.7 of the County Retirement Law of 1937.
Sample 1
SAFETY RETIREMENT TIER 2 a. Safety Retirement Tier, Tier 2, shall have a post-retirement cost-of- living adjustment factor pursuant to Government Code Section 31870 to a maximum annual 2% cost-of-living adjustment and a final compensation calculated on the basis of three (3) years pursuant to Government Code Section 31462. b. Employees who are members of the Sacramento County Employees Retirement System and who are granted a non-service connected disability retirement shall have benefits for non-service connected disability computed as prescribed by Section 31727.7 of the County Employees’ Retirement Law of 1937.
Sample 1

Related to SAFETY RETIREMENT TIER 2

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Pre-Retirement Leave An Employee scheduled to retire and to receive a superannuation allowance under the applicable pension Acts or who has reached the mandatory retiring age, shall be entitled to: (a) A special paid leave for a period equivalent to fifty percent (50%) of his/her accumulated sick leave credit, to be taken immediately prior to retirement; or (b) A special cash payment of an amount equivalent to the cash value of fifty percent (50%) of his/her accumulated sick leave credit, to be paid immediately prior to retirement and based upon his/her current rate of pay.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Public Employees Retirement System “PERS”) Members.

  • Retired Employees An employee who retires from University service, at age 55 with five (5) years of service, age 50 with fifteen (15) years of service or at any age with thirty (30) years of service, who is eligible to maintain participation in the UPlan, may indefinitely maintain medical and dental coverage with the University at his/her own expense. Medicare coverage is primary for retirees over 65, and for totally disabled employees who qualify for Medicare, and must coordinate with the UPlan Retiree Medical plan options. If retired or totally disabled employees elect not to continue coverage in the UPlan at the time they leave employment, they may not elect to do so at a later date. (see also Section 5E.)

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!