Transition Leave of Absence. A transition leave of absence may be granted to employees voluntarily or involuntarily separating from the Company under a surplus. An employee is eligible for this option if s/he is within one (1) year of actual age and/or service requirements for retirement-related benefits as of the Company specified separation date. The minimum combination for age/service requirements for eligibility is as follows: any age and net credit service of 29 years; 49 and net service credit of 24 years; 54 and net service credit of 19 years; or 64 and net service credit of 9 years. The service and age attained during this option count only towards eligibility for retirement-related benefits, and not for computing a pension benefit amount. This option shall not exceed one year from the date that the leave commences, but will end on the earliest of the date that: 1) the employee is rehired with the Company, (2) the employee attains required age and/or service to become eligible for retirement-related benefits, or 3) the employee dies. If 1 or 3 occurs, pension and retirement-related benefit entitlements will be those to which the employee was eligible as of the day before the effective date of the transition leave of absence.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
