Early Retirement Incentive Program definition

Early Retirement Incentive Program means an arrangement for Retirement before Social Security Full Retirement Age with incentives as provided in a written contract between the University and the retiree, consistent with the provisions of this policy.
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Early Retirement Incentive Program means an arrangement for retirement before age 65 with payments as provided in a written contract between the University and the retiree.
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Early Retirement Incentive Program is the modified retirement benefits set forth in this Supplement for Employees eligible for such program and who elect to participate.
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Examples of Early Retirement Incentive Program in a sentence

  • To be eligible to participate in the Early Retirement Incentive Program, an Employee must have been an Employee through March 31, 2000; must have reached at least fifty-five (55) years of age on or before March 31, 2000; and must have five (5) or more Years of Service on or before March 31, 2000, for purposes of determining vesting in the Plan.

  • An Employee who has retired previous to December 31, 1999 and commenced receiving Retirement Income under the Plan, but who has been re-employed as an Employee on or before December 31, 1999, is eligible for the Early Retirement Incentive Program.

  • To participate in the Early Retirement Incentive Program, an Employee must make an irrevocable, written election to retire as of March 31, 2000 and to commence receipt of Retirement Income as of April 1, 2000.

  • To be eligible to participate in the Early Retirement Incentive Program, an Employee must have been an Employee through December 31, 1995; must have reached an age of at least 55 years of age before January 1, 1996; and must have five (5) or more Years of Service before January 1, 1996 for purposes of determining vesting in the Plan.

  • An Employee of Great Lakes who has retired previous to November 15, 1995 and commenced receiving Retirement Income under the Plan, but who has been re-employed as an Employee on or before November 15, 1995 is eligible for the Early Retirement Incentive Program.

  • The effective date for Retirement Income to commence for Employees electing to participate in the Early Retirement Incentive Program is January 1, 1996.

  • Accrued Benefit for Participants participating in the Voluntary Early Retirement Incentive Program (“VERI”).

  • In order to assist in its business purpose of achieving a reduction in force as part of its overall corporate restructuring, the Company adopted the "Sears 1993 Early Retirement Incentive Program for Checklist Associates," Plan No. 558 ("ERIP"), permitting eligible salaried employees who retire during a limited window period to receive enhanced pension benefits and certain other benefits.

  • An Employee of ANR Pipeline, ANR Storage or CIG who has retired previous to November 15, 1995 and commenced receiving Retirement Income under the Plan, but who has been re-employed as an Employee on or before November 15, 1995 is not eligible for the Early Retirement Incentive Program.

  • To participate in the Early Retirement Incentive Program, an Employee must make an irrevocable, written election to retire as of December 31, 1995 and to commence receipt of Retirement Income as of January 1, 1996.

Related to Early Retirement Incentive Program

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

  • 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;

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

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

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • 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.

  • Management Incentive Plan means the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • 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.

  • Health benefits plan means a benefits plan which pays or

  • Disability retirement for plan 1 members, means the period

  • 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 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.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Long-Term Incentive Plan or “LTIP” means a plan providing compensation intended to motivate performance over a period greater than one financial year. LTIPs do not include option or SAR plans or plans for compensation through shares or units that are subject to restrictions on resale;

  • Incentive Plans means any incentive, bonus, deferred compensation or similar plan or arrangement currently or hereafter made available by Employer in which Executive is eligible to participate.

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Company Incentive Plan shall have the meaning assigned to it in Section 1.7 hereof.

  • SIP means Session Initiation Protocol.

  • STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Compensation Plans shall have the meaning set forth in Section 3.11(b).