University Retirement Sample Clauses

University Retirement. 258 University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 or older with 15 years of service, or 2) at any age with 25 years of service. Interruptions in employment of less than one (1) year duration shall not constitute a break in service as it pertains to retirement. -259 Employees meeting the minimum retirement requirements will remain eligible to maintain group health care and dental plan coverage and receive the Employer contribution. Employees participating in the Employee-Paid Life Plan at the time of retirement or terminating at age 65 or thereafter and who were enrolled prior to July 1, 1977, shall receive a $2,000 life benefit fully paid by the Employer. -260 An employee who retires under the definition in Paragraph 258 shall be paid for fifty (50) percent of his/her unused sick leave, but not to exceed a maximum of fifty (50%) percent of twelve hundred (1200) hours, as of the effective date of separation. -261 An employee who does not meet the definition of University Retirement in Paragraph 258 but has at least five (5) years, but less than ten (10) years of continuous service and has attained 65 years of age at the time of their separation shall be paid fifty (50%) percent of their unused sick leave as of the effective date of separation. An employee who does not meet the definition of University Retirement in Paragraph 258 but has at least ten (10) years of continuous service and has attained 65 years of age at the time of their separation shall be paid one hundred (100%) percent of their unused sick leave as of the effective date of separation but not to exceed a maximum of one hundred (100) days, unless he/she has received a University contribution to TIAA-CREF and was employed after 1-1-73 in which case the employee shall be paid as in Paragraph 260. -262 Prorated longevity payments shall be made to those employees who retire under the definition of University Retirement in Paragraph 258 prior to October first of any year. This also applies to those employees not under the definition of University Retirement in Paragraph 258 but who are 65 years of age at the time of their separation. Such prorated payments as indicated above shall be based on the number of calendar months of full-time service credited to an employee from the preceding October first to the date of retirement or separation and shall be made as soon as practicable thereafter.
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University Retirement. 218 - University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 or older with 15 years of employment, or 2) at any age with 25 years of employment. Interruptions in employment of less than one (1) year's duration shall not constitute a break in service as it pertains to retirement. An employee returning after twelve (12) months of her/his termination from University employment shall, after five (5) additional years of employment, receive credit for all past seniority for the purpose of retirement only. With proper documentation, reemployed employees, after five (5) years of service, will be granted credit for all past seniority upon application to the Office of Human Resource Services.
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University Retirement. 192 University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 with 15 years of employment, or 2) at any age with 25 years of employment. Interruptions in employment of less than one (1) year's duration shall not constitute a break in service as it pertains to retirement. -193 Employees participating in the Employee-Paid Life Plan at the time of retirement and who were enrolled prior to July 1, 1976, shall receive a $2,000 life insurance benefit fully paid by the Employer. -194 An employee who retires under the definition in paragraph 186 shall be paid for fifty (50) percent of the employee’s unused sick leave, but not to exceed a maximum of twelve hundred (1200) hours as of the effective date of separation. -195 An employee who does not meet the definition of University Retirement in paragraph 186 but has at least five (5) years, but less than ten (10) years of continuous service and has attained 65 years of age at the time of the employee’s separation shall be paid fifty (50) percent of the employee’s unused sick leave as of the effective date of separation. An employee who does not meet the definition of University Retirement in paragraph 186 but has at least ten (10) years of continuous service and has attained 65 years of age at the time of the employee’s separation shall be paid one hundred (100) percent of the employee’s unused sick leave as of the effective date of separation but not to exceed a maximum of one hundred (100) days.
Sample 1
University Retirement. 195 University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 with 15 years of employment, or 2) at any age with 25 years of employment. Interruptions in employment of less than one (1) year's duration shall not constitute a break in service as it pertains to retirement. An employee returning after twelve (12) months of her/his termination from University employment shall, after five (5) additional years of employment, receive credit for all past seniority for the purpose of retirement only. With proper documentation, reemployed employees, after five
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Related to University 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.

  • 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.

  • INSURANCE AND RETIREMENT Each teacher shall be entitled to fringe benefits provided by this agreement and by federal regulations provided by Cobra (Consolidated Omnibus Budget Reconciliation Act of 1985). These shall include but not be limited to the following:

  • 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.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • 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.

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

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