Common use of Vacation Pay on Retirement Clause in Contracts

Vacation Pay on Retirement. On retirement, at age fifty-five (55) or older, each employee, with a minimum of ten (10) continuous years of employment at the University, and qualifies for the Municipal Superannuation Plan, shall be entitled to the same vacation which the employee would have had if the employee continued working to the end of the calendar year. An approved leave of absence of up to one (1) year shall not constitute a break in continuous employment. For information purposes only, the Employer may solicit an expression of interest from employees eligible for retirement by November 1st of each year.

Vacation Pay on Retirement. On retirement, at age fifty-five (55) or older, each employee, with a minimum of ten (10) continuous years of employment at the University-College, and qualifies for the Municipal Superannuation Plan, shall be entitled to the same vacation which the employee would have had if the employee continued working to the end of the calendar year. An approved leave of absence of up to one (1) year shall not constitute a break in continuous employment. For information purposes only, the Employer may solicit an expression of interest from employees eligible for retirement by November 1st of each year.

Vacation Pay on Retirement. ‌ On retirement, at age fifty-five (55) or older, each employee, with a minimum of ten (10) continuous years of employment at the University, and qualifies for the Municipal Superannuation Plan, shall be entitled to the same vacation which the employee would have had if the employee continued working to the end of the calendar year. An approved leave of absence of up to one (1) year shall not constitute a break in continuous employment. For information purposes only, the Employer may solicit an expression of interest from employees eligible for retirement by November 1st of each year.