Tier 2 Retirement Sample Clauses

Tier 2 Retirement. 9.3.1 All County employees hired into the Public Services Unit (BU01), Supervisory Unit (BU05), or the Clerical (BU13) on or after April 17, 2011, and prior to January 1, 2013, will be placed in a lower second tier of retirement benefits in compliance with applicable laws and pension plan provisions. County employees in the Public Services Unit (BU01), Supervisory Unit (BU05), and the Clerical (BU13) hired prior to April 17, 2011 will maintain the current Tier 1 pension plan benefits. Current County employees who promote, transfer, or otherwise change to another bargaining unit in the future will maintain the current Tier 1 pension plan for that new bargaining unit. The second tier pension benefit plan, effective pursuant to Pension Plan amendment on April 17, 2011, is as follows:
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Tier 2 Retirement. 13.3.1 All new County employees hired into this unit on or after July 24, 2011 and before January 1, 2013, shall be placed in a second tier of retirement benefits in compliance with applicable laws and pension plan provisions. Tier 1 eligible County employees who promote, transfer, or otherwise change to another bargaining unit in the future will maintain the Tier 1 pension plan benefits for that new bargaining unit. The Tier 2 pension benefit plan is as follows:
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Tier 2 Retirement 
Sample 1

Related to Tier 2 Retirement

  • 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.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Normal Retirement Date The term “Normal Retirement Date” means the Executive’s attainment of age sixty-five (65).

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