Common use of Semi-Retirement Clause in Contracts

Semi-Retirement. When a priest has reached an age where, in his judgment and in the judgment of the Xxxxxx, full responsibility for a ministerial assignment is not in his or the Diocese's best interest, the Xxxxxx may arrange with the priest an assignment of semi-retirement. In such an assignment, the Diocese, by direction and calculation of the Xxxxxx, will assist the parish or institution in question in providing for normal compensation for the priest according to the Priests’ Compensation Policy. After reaching his full retirement age, a priest who is still serving in a semi-retirement assignment can choose to receive his vested and accrued retirement benefit as well as semi-retirement compensation by mutual agreement with the Xxxxxx.

Semi-Retirement. When a priest has reached an age where, in his judgment and in the judgment of the Xxxxxx, full responsibility for a ministerial assignment is not in his or the Diocese's best interest, the Xxxxxx may arrange with the priest an assignment of semi-retirement. In such an assignment, the Diocese, by direction and calculation of the Xxxxxx, will assist the parish or institution in question in providing for normal compensation for the priest according to the Priests’ Compensation Diocese Salary Policy. After reaching his full retirement ageage sixty- five (65), a priest who is still serving in a semi-retirement assignment can choose to receive his vested and accrued retirement benefit as well as semi-retirement compensation by mutual agreement with the Xxxxxx.