Common use of Special Early Retirement Clause in Contracts

Special Early Retirement. A member retiring after having attained age 60 with at least 25 years of credited service, is entitled to an immediate accrued pension equal to the amount of accrued pension to his credit for service to date of early retirement, without reduction for the earlier date of retirement. This pension will be supplemented by an amount necessary to provide a monthly pension, as follows, from Company Plans, payable until the member would have first become eligible to receive unreduced Canada Pension Plan Retirement benefits: $3,304 if you retire on or after April 1, 2012, but before March 1, 2014 $3,323 if you retire on or after March 1, 2014 Thereafter, the supplement shall be recalculated as the amount required to be added to the member's accrued pension and the full unreduced Canada Pension Plan Retirement benefits determined at the date of his retirement to produce a monthly pension (as follows) which supplement shall become his lifetime supplement: $3,656 if you retire on or after April 1, 2012, but before March 1, 2014 $3,675 if you retire on or after March 1, 2014 In addition to the recalculated lifetime supplement, a member who retires under this provision (Special Early Retirement) will be paid a further supplement, if necessary, to produce a total pension from Company Plans equal to the pension that would be payable if the member were then retiring at normal retirement, based on the normal retirement minimum pension and full unreduced Canada Pension Plan retirement benefit both determined as of that date, his accrued pension including any escalation thereof and his related credited service. This further supplement shall then be added to and form part of the member's lifetime supplement.

Special Early Retirement. A member retiring after having attained age 60 with at least 25 30 years of credited service, service is entitled to an immediate accrued pension equal to the amount of accrued pension to his credit for service to date of early retirement, without reduction for the earlier date of retirement. This pension will be supplemented by an amount necessary to provide a monthly pension, as followspension of $1,610.00, from Company Plans, Plans payable until the member would have first become eligible to receive unreduced Canada Pension Plan Retirement benefits: $3,304 if you retire on or after April 1, 2012, but before March 1, 2014 $3,323 if you retire on or after March 1, 2014 . Thereafter, the supplement shall be recalculated as the amount required to be added to the member's accrued pension and the full unreduced Canada Pension Plan Retirement benefits determined at the date of his retirement to produce a monthly pension (as follows) of $1,788.00 which supplement shall become his lifetime supplement: $3,656 if you retire on or after April 1, 2012, but before March 1, 2014 $3,675 if you retire on or after March 1, 2014 . In addition to the recalculated lifetime supplement, a member who retires under this provision (Special Early Retirement) before April 21, 1993 will be paid a further supplement, if necessary, to produce a total pension from Company Plans equal to the pension that would be payable if the member were then retiring at normal retirement, based on the normal retirement minimum pension and full unreduced Canada Pension Plan retirement benefit both determined as of that date, his accrued pension including any escalation thereof and his related credited service. This further supplement shall then be added to and form part of the member's lifetime life time supplement.

Special Early Retirement. A member retiring after having attained age 60 with at least 25 30 years of credited service, service is entitled to an immediate accrued pension equal to the amount of the accrued pension to his credit for service to date of early retirement, without reduction for the earlier date of retirement. This pension will be supplemented by an amount necessary to provide a monthly pension, as followspension of $1,525.00, from Company Plans, Plans payable until the member would have first become eligible to receive unreduced Canada Pension Plan Retirement benefits: $3,304 if you retire on or after April 1, 2012, but before March 1, 2014 $3,323 if you retire on or after March 1, 2014 . Thereafter, the supplement shall be recalculated as the amount required to be added to the member's accrued pension and the full unreduced Canada Pension Plan Retirement benefits determined at the date of his retirement to produce a monthly pension (as follows) of $1,673.00; which supplement shall become his lifetime supplement: $3,656 if you retire on or after April 1, 2012, but before March 1, 2014 $3,675 if you retire on or after March 1, 2014 . In addition to the recalculated lifetime supplement, a member who retires under this provision (Special Early Retirement) before April 21, 1992 will be paid a further supplement, if necessary, to produce a total pension from Company Plans equal to the pension that would be payable if the member were then retiring at normal retirement, based on the normal retirement minimum pension and full unreduced Canada Pension Plan retirement benefit both determined as of that date, his accrued pension including any escalation thereof and his related credited service. This further supplement shall then be added to and form part of the member's lifetime supplement.