Transfer of Pension Funds. Employee Authorization and Release - In cases where the Employees' Retirement System transfers annuity and pension funds to either the State Retirement System or Teachers' Retirement System, the Board agrees to contact affected employees to notify them of executing an authorization and/or release for such transfer. Prior to and after the employee's annuity and pension funds have been transferred to either the State Retirement System or Teachers' Retirement System, the Employees' Retirement System shall provide each affected employee with a financial statement regarding his respective annuity and pension funds. Until this authorization and/or release is fully executed, the member shall remain in the Employees' Retirement System without loss of benefits.
Transfer of Pension Funds. Employee Authorization and Release - In cases where the Employees’ Retirement System transfers annuity and pension funds to either the State Retirement System or Teachers’ Retirement System, the Board agrees to contact affected employ- ees to notify them of executing an authorization and/or release for such transfer . Prior to and after the employ- ee’s annuity and pension funds have been transferred to either the State Retirement System or Teachers’ Re- tirement System, the Employees’ Retirement System shall provide each affected employee with a financial statement regarding his respective annuity and pen- sion funds . Until this authorization and/or release is ful- ly executed, the member shall remain in the Employees’ Retirement System without loss of benefits .
Transfer of Pension Funds. Employee Authorization and Release - In cases where the Employees’ Retire- ment System transfers annuity and pension funds to either the State Retirement System or Teachers’ Re- tirement System, the Board agrees to contact affected employees to notify them of executing an authoriza- tion and/or release for such transfer. Prior to and after the employee’s annuity and pension funds have been transferred to either the State Retirement System or Teachers’ Retirement System, the Employees’ Retire- ment System shall provide each affected employee with a financial statement regarding his respective annuity and pension funds. Until this authorization and/or release is fully executed, the member shall remain in the Employees’ Retirement System without loss of benefits.
Transfer of Pension Funds. As and when Buyer Service Co employs any Employee or group of Employees, Buyer shall give Seller not less than ten (10) days’ written notice of the date on which such employment is to take effect (the “Employment Date”), which notice shall contain the specific names of the Employees to be employed by Buyer Service Co. No later than one day after the Employment Date, Seller shall cause the aggregate sum of the Pension Funds attributable to such Employee or group of Employees (calculated in accordance with the criteria and formula set forth on Schedule 12.4(a) hereto), free and clear of any reductions or withholding whatsoever, to be transferred from the Pension Plan of those Employees to the trustee or administrator of Buyer Service Co’s Pension Plan by wire transfer to the account maintained for Buyer Service Co’s Pension Plan. No tranfer of Pension Funds will be made with regard to an Employee until that Employee has actually been employed by Buyer Service Co.
