Alternate Retirement System definition

Alternate Retirement System means this Plan, which is described in section 457 of the Internal Revenue Code, when used for purposes of section 3121(b)(7)(F) of the Code to exclude contractual employees from mandatory Social Security coverage.
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Alternate Retirement System means this Plan, which is described in section 457 of the Internal Revenue Code, when used for purposes of section 3121(b)(7)(F) of
Sample 1

Examples of Alternate Retirement System in a sentence

  • In lieu of Social Security, the City will contribute 1.5% of the employee’s salary on the employee’s behalf to the PARS Alternate Retirement System.

  • The City also contributes to the Public Agency Retirement System (PARS), a defined contribution pension plan provided and administered by the Public Agency Retirement System Alternate Retirement System Plan for employees not eligible to participate in PERS.

  • NOTE 8: PUBLIC AGENCY RETIREMENT SERVICES ALTERNATE RETIREMENT SYSTEM 457 PLAN District’s part-time, seasonal, and temporary employees who are not members of the existing retirement plan were given the one-time choice to stay with the Social Security plan or to join the newly created alternate plan called the Public Agency Retirement Services Alternate Retirement System 457 plan (PARS ARS 457) in August 2013.

  • South Africa is a water scarce country and ranks as one of the 30 driest countries in the world with an average rainfall of about 40 percent less than the annual world average rainfall.

  • We have included in that examination the records pertaining to the appropriations for the Alternate Retirement System, the Judges and Compensation Commissioners Retirement Fund, the various miscellaneous statutory pensions and the state’s share of retirement salaries for active and retired employees in fulfilment of our duties under Section 2-90 of the Connecticut General Statutes.

  • CITY OF PALO ALTO AND SEIU LOCAL 521-HOURLY UNIT July 1, 2023-June 30, 2025 Appendix B- Salary Schedule‌ CITY OF PALO ALTO AND SEIU LOCAL 521-HOURLY UNIT July 1, 2023-June 30, 2025 Appendix C‌ As of the effective date of this contract, the City contracts with the Public Agency Retirement Services Alternate Retirement System (PARS ARS) to provide an alternative plan to Social Security for members of this Unit.

  • Such an alternate plan is the Public Agency Retirement Services Alternate Retirement System 457 Plan (PARS ARS 457).

  • In accordance with this federal law, the City provides pension benefits for all part-time, seasonal, and temporary employees through the City of Lake Forest Alternate Retirement System Plan administered by the Public Agency Retirement System (PARS-ARS).

  • ABC-MART and Purchaser estimate that the total amount of funds required (i) to purchase all of the outstanding Shares pursuant to the Offer and the Merger; and (ii) to pay for the cash-out of all in-the-money stock options to acquire Shares, pursuant to the Merger Agreement, will be approximately $138 million.

  • Note: Persons employed by the College before July 1, 1991, and enrolled in the Alternate Retirement System receive a 12 percent contribution from the College.Note: Employees hired by the College before July 1, 1999, had the option of participation in TRS on a non-contributory basis.

Related to Alternate Retirement System

  • Retirement system means a retirement plan or system that is established by or pursuant to title 38.

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Public employees retirement system means the retirement plan and program

  • 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.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Retirement program means a program of rights and obligations which a county, city, village, or township establishes, maintains, or participates in and which, by its express terms or as a result of surrounding circumstances, does 1 or more of the following:

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • 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)).

  • Continuing care retirement community means a residential

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Basic Plan means as to any Member or Vested Former Member the defined benefit pension plan of the Company or an Affiliated Employer intended to meet the requirements of Code Section 401(a) pursuant to which retirement benefits are payable to such Member or Vested Former Member or to the Surviving Spouse or designated beneficiary of a deceased Member or Vested Former Member.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Eligible Retiree means a retired employee of the GROUP who is receiving retirement benefits from GROUP and is entitled to Medicare part A and enrolled in Medicare part B. If this Agreement includes Group Plan 65, an Eligible Retiree who selects Group Plan 65 shall be eligible as an individual. Such Eligible Retiree shall not be deemed to have any dependents who can select Group Plan 65.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Disability retirement for plan 1 members, means the period

  • Retirement Eligibility means Employee’s attainment of 60 years of age and ten years of continuous employment with Corporation.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Normal Retirement Benefit means the benefit described in Section 2.1.