Voluntary Early Retirement Plan Sample Clauses

Voluntary Early Retirement Plan. Employees who have served continuously on a full-time basis for ten (10) years and are eligible for an annuity under the State Universities Retirement System which was created, and is governed by Article 15 of the Illinois Pension Code, Ill. Rev. Stat. ch. 108-1/2 115- 101 et seq. (hereinafter SURS), are eligible to participate in this voluntary early retirement plan. 1. Benefits under this program are provided without regard to age for employees who retire from the City Colleges of Chicago. 2. Applications for participation in the program shall be submitted in writing to the appropriate College President or his designee no later than 30 days prior to the date of intended retirement. Where an early retirement request hereunder may have been submitted after the deadline date, the Chancellor shall nevertheless have the authority to grant said early retirement. 3. With the exception of term life insurance, and disability and life insurance, the Board shall provide the early retiree with the same individual insurance coverage available to active employees under this Agreement for a period of ten (10) years after retirement1 provided that health insurance coverage(s) shall be reduced to the extent that Medicare or comparable benefits are otherwise available to the early retiree. The Board shall also provide the early retiree with the same term life insurance available to active employees under this Agreement, except that there shall be a cap of $35,000, and it shall make the premium payments therefore, for a period of ten (10) years after retirement. 4. The early retiree shall also have the opportunity to purchase dependent health insurance coverage through the City Colleges health insurance program, at the cost to the retiree set forth in Appendix D. Premium payments for dependent insurance coverage shall be paid by the early retiree on a timely basis to the City Colleges. 5. In the event of the death of a voluntary retiree, the City Colleges will continue insurance coverage for the designated beneficiary for six (6) months following the month in which the death occurred, which period shall be credited towards the period of coverage required by the federal law known as “COBRA.”
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Voluntary Early Retirement Plan. This plan is in addition to, but not part of, the employees' pension plan.
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Voluntary Early Retirement Plan. (Policy GBOB, Negotiated Agreement) Not applicable to resignation ** Eligible to participate until age of earliest full Social Security benefit, if retiring with KPERS and at least 15 continuous yrs. in Olathe Policy GBZEA Professional Development includes a section on Professional Learning Communities (PLCs). PLCs play an important role in the District’s school and learning improvement as well as professional development activities throughout the school year. All certified/licensed personnel will participate in PLCs. Educators are assigned to required PLCs by the principal/supervisor at their home building. PLC agendas should be collaboratively developed, agenda-driven, and focused on student learning. Early Childhood educators shall be assigned a PLC on Fridays. Specialists and licensed/certified support staff will be provided with a minimum of 1 hour on district professional development days and days designated for PLC job- embedded professional learning for PLC meetings. These PLCs will be with specialists in the same field. Please refer to Policy GBZEA for further information on PLC requirements.
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Voluntary Early Retirement Plan. Full-time may submit an official application to retire to their Xxxx/Chief Librarian between July 1 and September in any year with the retirement June following or between January 1 and March 1 in any year with the retirement December 3 1 following. An official application to retire is irrevocable unless mutually agreeable to the member and the Xxxx/Chief Librarian. Members must have attained the age of years and have at least years of full-time service with University on the date commencing early retirement or have at least years of full-time service with University if they have not attained the age of years. Members taking this Voluntary Early Retirement Plan will be entitled to a sum based on their salary on June or December 3 1 immediately prior to voluntary early retirement, payable in equal monthly instalments commencing on July 1 in the year of
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Voluntary Early Retirement Plan. (A) Full-time members may submit an official application to retire to their Xxxx/University Librarian prior to December 31st, 2003 with the retirement to commence on June 30th, 2004. This provision will be deleted from the Collective Agreement effective July 1,
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Related to Voluntary Early Retirement Plan

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

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