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.

  • Subsection two then considers the Protocol to the African Charter on Human and Peoples’ Rights on the Rights of Women in Africa for a regional perspective on women’s rights.

  • Employees are vested in the Alternate Retirement System at the end of one continuous year's employment; employees are fully vested in Public Employees Retirement at the end of five years employment.

  • Statutory benefits are budgeted as follows: State Teachers Retirement System 8.25% Public Employees Retirement System 9.31% OASDHI (Social Security) 6.20% Medicare 1.45% State Unemployment Insurance 0.05% Workers Compensation 1.22% STRS Cash Balance Plan (Hourly Academic) 4.00% Alternate Retirement System (Hourly Non Academic) 3.75%3.

  • Retirement eligibility, disability determination, and post- retirement benefits are determined by the appropriate state agency for all systems other than the Alternate Retirement System.

  • A list of carriers approved by Arkansas Department of Higher Education for the Alternate Retirement System may be obtained from the Human Resources Office.

  • However, economic assessment of the benefits using SATURN has been undertaken and is set out within the Economic Case.In addition, to aid traffic travelling west towards this junction on the A51, it is proposed to widen the southern kerbline to assist left turning traffic heading towards Wales.

  • Detailed Design: The sketch drawing with all calculations and alterations.

  • 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.

  • Part-time County employees are automatically enrolled in the PARS Alternate Retirement System (ARS) program and both the County and the employee pay a portion of the minimum 7.5% contribution rate.

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.

  • 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: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year 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.

  • 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 attainment of age 60 and completion of at least five (5) years of continuous service with the Company.

  • 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 an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

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