State Safety Member Retirement Sample Clauses

State Safety Member Retirement. State Safety A Formula (2.5% at age 55), State Safety B Formula (2% at age 55), and Public Employees’ Pension Reform Act (PEPRA) State Safety Retirement Formula (2% at age 57)/Contribution Rate/Final Compensation Earnable
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State Safety Member Retirement. Formula/Contribution Rate/Final Compensation Earnable Unit 7 employees of the State Safety retirement plan who are employed on or after July 1, 2004, shall be subject to the 2.5% at 55 service retirement formula prescribed in Government Code section 21369.1. New employees hired on or after January 1, 2007, will be subject to the 2.5% at 55 retirement formula with retirement benefits based on an average monthly pay rate during the thirty-six (36) consecutive months of employment. Employees in employment prior to January 1, 2007, will remain subject to the 2.5% at 55 retirement formula with benefits based on an average monthly pay rate during the twelve (12) months of employment preceding retirement. The State and Union agree to support legislation that changes the method of computing the average annual compensation earnable for new State Safety Members hired on or after January 1, 2007. State Safety members shall contribute an additional three percent (3%) retirement contribution. State Safety members shall contribute nine percent (9%) of monthly compensation in excess of three hundred seventeen dollars ($317) for retirement, effective on the first pay period following ratification. The additional three percent (3%) employee contribution shall offset the State’s contribution beginning the pay period following ratification of the agreement. On and after January 15, 2011, new to State service Unit 7 employees will be subject to Government Code Section 21369.
Sample 1

Related to State Safety Member Retirement

  • Benefit Level Two Health Care Network Determination Issues regarding the health care networks for the 2017 insurance year shall be negotiated in accordance with the following procedures:

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • 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.

  • Public Employees Retirement System “PERS”) Members. For purposes of this Section 1, “employee” means an employee who is employed by the State on August 28, 2003 and who is eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

  • Pre-Retirement Counseling Leave ‌ After reaching earliest retirement age, each employee shall be granted up to three and one-half (3-1/2) days leave with pay to pursue bona fide pre-retirement counseling programs. Employees shall request the use of leave provided in this Article at least five (5) days prior to the intended date of use. Authorization for use of pre-retirement counseling leave shall not be withheld unless the Appointing Authority determines that the use of such leave will handicap the efficiency of the employee's work unit. When the dates requested for pre-retirement leave cannot be granted for the above reason, the Agency shall offer the employee a choice from three (3) other sets of dates. The leave herein discussed may be used to investigate and assemble the employee's retirement program, including PERS, Social Security, insurance and other retirement income.

  • Pre-Retirement Leave An employee scheduled to retire and to receive a superannuation allowance under the applicable Superannuation Act(s), or who has reached the mandatory retiring age, shall be entitled to:

  • Non-Vested Retirement Gratuity for Teachers 1. The minimum years of service for retirement gratuity shall be defined as the lesser of the contractual minimal service requirement in the 2008-2012 collective agreement, or ten (10) years.

  • EMPLOYMENT OF RETIRED TEACHERS A. For purposes of salary schedule placement, a retired Teacher will be granted a maximum of ten (10) years’ service credit and their educational attainment. A retired Teacher may not advance beyond Level 10 on the salary schedule.

  • Post Retirement Health Care Benefit Employees who separate from State service and who, at the time of separation are insurance eligible and entitled to immediately receive an annuity under a State retirement program, shall be entitled to a contribution of two hundred fifty dollars ($250) to the Minnesota State Retirement System’s (MSRS) Health Care Savings Plan. Employees who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the employee separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An employee who becomes totally and permanently disabled on or after January 1, 2008, who receives a State disability benefit, and is eligible for a deferred annuity under a State retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. Employees are eligible for this benefit only once.

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