Voluntary Separation Incentive Sample Clauses

Voluntary Separation Incentive. Voluntary Retirement Incentives‌ Agencies will have the discretion to participate in a Voluntary Separation Incentive Program or a Voluntary Retirement Incentive Program, if such program is provided for in the 2017-2019 operating budget. Such participation must be in accordance with the program guidelines. Program incentives or offering of such incentives are not subject to the grievance procedure in Article 27, Grievance Procedure.

Voluntary Separation Incentive. Eligibility – Employees at least 55 years of age with at least ten (10) years of full-time service (or equivalent) with the College shall be eligible for a voluntary separation incentive. An irrevocable notice of intent to exercise this option must be submitted in writing to the President 12 months in advance of the effective date of the separation. Payment – A voluntary separation incentive equal to fifty (50) percent of the difference between the employee’s salary and the midpoint of the salary range for the employee’s grade level, or a minimum of $10,000, for the year in which the separation takes effect, shall be granted to the employee. The employee may elect to receive the incentive payment in one (1) to four (4) payment(s) at times designated by the employee over a period not to exceed three (3) calendar years from the date of retirement. Special Retirement Incentive – 1. Retiring members must notify TC3 by irrevocable notice of their intent to participate in this program by March 1, 2017. 2. Retiring members who leave service by August 31, 2017 shall receive the following benefits: a. Retiring members who leave with health insurance coverage will pay 20% health insurance premium for individual coverage and 20% of the individual portion of the family health insurance premium for 4 years from the date of retirement and 50% thereafter. The retiree will continue to pay 65% for the dependent portion of the family health insurance coverage. Retiring members under this section shall have the option of using accumulated sick leave value (as calculated per Article 17.3) toward the 20% contribution or freeze their accumulated sick leave value beginning in year 5. b. Retiring members who leave without health insurance coverage will receive an additional $8,000 added to their health reimbursement account amount as calculated per Article 17.3. c. Retiring members shall be eligible for the retirement incentive per Article 46 without the restriction of an irrevocable 12-month notice. 3. Retiring members who leave service by August 31, 2019 shall receive the following benefits: a. Retiring members who leave with health insurance coverage will pay 20% health insurance premium for individual coverage and 20% of the individual portion of the family health insurance premium for 3 years from the date of retirement and 50% thereafter. The retiree will continue to pay 65% for the dependent portion of the family health insurance coverage. Retiring members under this secti...

Voluntary Separation Incentive. Program (“VSIP”) The University will offer a VSIP as set forth below (This VSIP is not available to employees who have notified the university prior to the execution of this agreement of their intent to retire or otherwise separate employment with the university before Fall 2020 term): A. A one-time payment to the Employee as follows: 1. $5,000 for 5 to 9 years of service with the University 2. $10,000 for 10 to 14 years with the University 3. $15,000 for 15 to 19 years with the University 4. $20,000 for 20 or more years with the University B. The University shall waive the contractual 12-month notice period for the 20% sick leave payout for employees who notify the University of their Intent to retire. C. Employees must elect to participate in the Program by August 15, 2020. The separation date must be prior to August 31, 2020. D. The Department of Unemployment Assistance determines unemployment benefits. The University will provide all VSIP employees with information on how to apply for unemployment benefits. E. Prior to the separation date, participants shall execute a Waiver of Claims as consideration for the payments listed above. Payments shall be made on the pay date of the first full pay period following the applicable revocation period set forth in the Waiver of Claims.

Voluntary Separation Incentive. Any new employee hired after July 1, 2010 or new employee for 2010-2011 school year and thereafter will not be eligible for this benefit.

Voluntary Separation Incentive. On a one-time basis, Metro and AFSCME agree that Metro may offer a voluntary separation incentive to employees, under the following terms: A. Bargaining unit members may choose to voluntarily separate from employer so long as written notice of retirement is provided on or before October 14, 2020. Employees must separate by January 31, 2021. Any employee who provides such notice can immediately, if desired, stop scheduled furlough hours or a temporary schedule reduction. In the event an employee does not separate by January 31, 2021, they shall be required to take the furlough days/hours as outlined in 1(D) in this agreement. B. Employees who elect voluntary separation will continue to receive health, dental and vision benefits for six months beginning the first of the month following the effective date of the employee’s separation. C. In lieu of receipt of health benefits described above in 4(B), the employee may elect to receive a payment of nine thousand dollars ($9,000.00). D. Any employee who voluntarily separates gives up any rights to recall, return or reemployment under the Metro-AFSCME CBA or applicable law. As a condition of receipt of any benefit or payment, the employee must sign a written release waiving any claims to these benefits or contractual rights, in addition to any other claim against Metro. E. Regular status employees as that term is defined in the existing CBA, section 2.1, who are in positions greater than or equal to 0.75 FTE and meet either of the following requirements are eligible to participate in this voluntary separation incentive: 1) employees hired prior to July 1, 2012, and/or 2) employees who are within five (5) years of retirement from PERS “early retirement” (i.e., with reduced benefits based on age and/or years of service). F. Approvals of voluntary separation requests from eligible employees are subject to operational needs and will not be unreasonably denied. G. The parties also agree that Metro will take no position on whether the employee is entitled to unemployment. H. Upon separation, the employee will be paid out the payment described in 4(C) if applicable and for any accumulated vacation minus all lawful deductions and taxes. The parties agree that these payments are taxable and may be taxed at a higher rate, which is beyond Metro’s control.

Voluntary Separation Incentive. The Town of Amherst shall offer a voluntary separation incentive with flexible parameters and a continuing health insurance option to CSEA employees during calendar years 2024, 2026, and 2028 with ample prior notice. The package offered in a voluntary separation incentive shall be a consistent package for all targeted employees and not vary from any contractual benefits if any are involved, and shall be finalized each offering year by a MOA between the parties.

Voluntary Separation Incentive. The parties agree that the University may offer a voluntary separation and retirement incentive as described in the plan approved by OFM on August 7, 2020.

Voluntary Separation Incentive. Full time teachers covered by this agreement, upon written application and approval by the Board of Education, may participate in a voluntary separation program.