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 2013-2015 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.
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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.
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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.
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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):
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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:
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Voluntary Separation Incentive. 9.0 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.
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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.
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Related to Voluntary Separation Incentive

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Period of continuous service Severance pay Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay * Week’s pay is defined in 4.4.1.

  • Voluntary Benefits The Board will make optional voluntary group benefits 25 available to all eligible employees. Employees who participate in voluntary benefits must do so at 26 their own expense or with available Flex Credits. Voluntary benefits shall be recommended by the 27 Insurance Task Force and approved by the Board.

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

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