Early Retirement Program definition

Early Retirement Program means that certain offer under the Collective Bargaining Agreements that provided certain benefits to any represented Business Employee who submitted an intention to retire between August 1 and August 14, 2003, inclusive, and who retired on or prior to August 31, 2003.
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Early Retirement Program means a voluntary or elective arrangement for an employee to retire before attaining FRA. Such a program or election will provide incentives as provided in a written agreement between the University and the employee, consistent with the provisions of this policy.
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Early Retirement Program means an early retirement program approved by the Board of Directors of the Bank of Canada.
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Examples of Early Retirement Program in a sentence

  • The present value of the future Retirement Severance Pay Benefits and Early Retirement Program Plan benefits will be reduced by the Social Security and Medicare taxes (FICA) that would have been payable if the Severance Benefits and Retirement Bridge had been paid directly to the employee.

  • Hereafter, a faculty member undergoing such evaluation is referred to as the “evaluatee.” 11.2.1.c Faculty participating in the Faculty Early Retirement Program (FERP) are not required to undergo post tenure evaluation unless an evaluation is requested by the FERP participant or the Appropriate Administrator.

  • If an employee shall die, the deceased employee’s 401(a) Retirement Severance and Early Retirement Program Buyout Plan account shall be distributable to the decedent’s designated beneficiary or to his/her estate if no beneficiary designation has been made.

  • All costs incurred in the administration of the 401(a) Retirement Severance and Early Retirement Program Buyout Plan and investment fees shall be paid from the 401(a) Retirement Severance and Early Retirement Program Buyout Plan assets.

  • The ISTA Financial Services Corporation has been selected to determine the present value of the unfunded Retirement Severance Pay Benefits and the Early Retirement Program benefits described in the Prior Agreement.

  • If an employee retires or otherwise terminates employment before satisfaction of the requirements set forth in Subsection A of this Article, for any reason, the terminated employee’s 401(a) Retirement Severance and Early Retirement Program Buyout Plan account shall be forfeited.

  • The School Corporation shall not be paid any compensation for its services performed on behalf of the 401(a) Retirement Severance and Early Retirement Program Buyout Plan.

  • Participants in the Faculty Early Retirement Program (FERP) shall not be required to undergo evaluation unless an evaluation is requested by either the FERP participant or the appropriate administrator.

  • Effective February 28, 2009, Members who retire under the 2009 Voluntary Early Retirement Program will be treated as having Company consent to retire even if they have not attained the 5-year vesting requirement under this Program at retirement.

  • The Early Retirement Program will be reviewed annually through the negotiation process; however, for any retiree already in the program, the provisions of the program in effect at the time of retirement shall be guaranteed.


More Definitions of Early Retirement Program

Early Retirement Program means a voluntary or elective arrangement for an employee to retire before the normal retirement age of 65. Such a program or election will provide incentives as provided in a written agreement between the University and the retiree, consistent with the provisions of this policy.
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Early Retirement Program means an arrangement for retirement before age 65 or full retirement age with payments as provided in a written contract between the College and the retiree.
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Early Retirement Program means the GenCorp 1996 Voluntary Early Retirement Incentive Program (effective January 16, 1996).
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Related to Early Retirement Program

  • 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.

  • 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:

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

  • Early Retirement Date means: the day on which a Participant who has attained age fifty-five (55), but has not reached age sixty-five (65), with ten (l0) or more years of Credited Service, retires. A Participant is eligible for early retirement on the first day of the calendar month coincidental with or immediately following the attainment of age fifty-five (55) and the completion of ten (l0) years of Credited Service, and "early retirement" shall mean retirement by an eligible Participant at the Early Retirement Date.

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

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

  • 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;

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

  • 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.

  • Disability retirement for plan 1 members, means the period

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

  • 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.

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

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

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

  • 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.

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

  • 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.

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

  • 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.

  • 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.

  • 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.

  • Retirement means Normal or Early Retirement.

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

  • 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)).

  • 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.