Age at Retirement definition

Age at Retirement means the age of the Member on June 30 (for July 1 retirement) or December 31 (for January 1 retirement) of the calendar year in which they elect to retire.
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Age at Retirement means the Participant's whole age as of his or her last birthday that precedes or coincides with the Participant's date of retirement.
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Examples of Age at Retirement in a sentence

  • The University may offer and an Employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts: % of regular gross earnings Age at Retirement earned in the calendar year immediately prior to date of retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% The University may opt to pay the early retirement incentive in three (3) equal payments over a thirty- six (36) month period.

  • Age at Retirement Minimum Completed Years of Credited Service 55 30 56 29 57 28 58 27 59 26 The amount of the M.F.R.A. paid to qualifying employees by the Company shall be determined as at the date of retirement.

  • RETIREMENT ALLOWANCE FACTORS - POLICE EMPLOYEES Age at Retirement Factors 50 1.0000 50-1/4 1.0175 50-1/2 1.0350 50-3/4 1.0525 51 1.0700 51-1/4 1.0875 51-1/2 1.1050 51-3/4 1.1225 52 1.1400 52-1/4 1.1575 52-1/2 1.1750 52-3/4 1.1925 53 1.2100 53-1/4 1.2275 53-1/2 1.2450 53-3/4 1.2625 54 1.2800 54-1/4 1.2975 54-1/2 1.3150 54-3/4 1.3325 55 and over 1.3500 Effective June 21, 1993, the Retirement Allowance Factors covered by the City contracted PERS Plan shall be applicable.

  • The allowance will be paid only once and will be determined in accordance with the following: Age at Retirement Allowance 62 $9000 63 $6000 64 $3000 Employees taking advantage of this benefit between birthdays will have the amount of the allowance prorated.

  • The allowance will be paid only once and will be determined in accordance with the following: Age at Retirement Allowance 63 $6000 64 $3000 Employees taking advantage of this benefit between birthdays will have the amount of the allowance prorated.

  • The maximum period for which the employee will be eligible for the allowance is years; OR A lump sum payment calculated as follows: Lump sum equivalent to the total value of monthly allowances he could have received under this provision Age at Retirement up to months entitlement up to months entitlement up to months entitlement up to months entitlement up to months entitlement An employee who elects benefits under this Article will not be entitled to any other benefits provided elsewhere in this Article.

  • The allowance will be paid only once and will be determined in accordance with the following: 41 Age at Retirement Allowance 60 $15,000 61 $12,000 62 $ 9,000 63 $ 6,000 64 $ 3,000 The amount of the allowance will be prorated for the employees taking advantage of this benefit between birthdays.

  • The allowance will be paid only once and will be determined in accordance with the following: Age at Retirement With more than 25 Years Worked Allowance 60 $25,000 61 $20,000 62 $15,000 63 $10,000 64 $5,000 Employees taking advantage of this benefit between birthdays will have the amount of the allowance prorated.

  • The allowance will be paid only once and will be determined in accordance with the following: Age at Retirement Allowance 60 $15,000 61 $12,000 62 $ 9,000 63 $ 6,000 64 $ 3,000 The amount of the allowance will be prorated for the employees taking advantage of this benefit between birthdays.

  • The University may offer and an Employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts: Age at Retirement % of regular gross earnings earned in the calendar year immediately prior to date of retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% The University may opt to pay the early retirement incentive in three (3) equal payments over a thirty-six (36) month period.

Related to Age at Retirement

  • Disability retirement for plan 1 members, means the period

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Normal Retirement Age means the Executive's 65th birthday.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Retirement Age means the earlier to occur of:

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Early Retirement means retirement, with consent of the Committee at the time of retirement, from active employment with the Company and any Subsidiary or Parent Corporation of the Company.