Full Retirement with respect to a Participant means the termination of the Participant’s Employment at a time that the Participant has attained 10 or more years of service (or deemed service under applicable retirement arrangements) with the Company or applicable Affiliates and the Participant is age 62 or older.
Full Retirement means voluntary retirement after attaining at least age 65 with at least five years of continuous service with the Corporation or any Subsidiary prior to the date of such retirement.
Full Retirement means with respect to a Participant: (i) to cease to be employed by the Company or a Related Company due to voluntary separation after the Participant has attained at least one of the following: (A) at least 15 years of vesting service and a combination of age and years of vesting service that equals or exceeds 75 points, (B) 65 years of age and 5 years of vesting service, or (C) 55 years of age and 10 years of vesting service; (ii) to cease to be employed by the Company or a Related Company due to an involuntary termination of the Participant’s employment by the Company or a Related Company without Cause after the Participant attained at least one of the following: (A) at least 15 years of vesting service and a combination of age and years of vesting service that equals or exceeds 73 points, (B) 65 years of age and 5 years of vesting service, or (C) 55 years of age and 10 years of vesting service; or (iii) retirement of the Participant under any other circumstances determined in writing by the Executive Vice President and Chief Human Resources Officer of Verizon (or her or his designee), provided that, in any case, the retirement was not occasioned by a discharge for Cause. For purposes of this definition, “years of vesting service” is used as defined under the applicable Verizon tax-qualified 401(k) savings plan. For clarity, a “point” for these purposes means one year of age or one year of vesting service.
Examples of Full Retirement in a sentence
Year of Birth Full Retirement Age 1943-1954 66, 1955 66 and 2 months, 1956 66 and 4 months, 1957 66 and 6 months, 1958 66 and 8 months, 1959 66 and 10 months 1960, or later 67.
The parties intend to gradually eliminate the "Early Full Retirement" benefit by "grandfathering" its provisions to incumbent administrators (as of June 30, 2001).
The "Part-time Employment With Full Retirement 21 Credit" is expressly excluded from the Grievance Procedure.
The Part-Time Teaching With Full Retirement Credit (Xxxxxx Xxxxx Act) program is authorized by the California Education Code provisions pertaining to part- time teaching with full retirement credit (Sections 22713 and 44922), and if those Education Code provisions are repealed during the term of this Agreement, this section shall become inoperative.
The "Part-time Employment With Full Retirement 34 Credit" is expressly excluded from the Grievance Procedure.
More Definitions of Full Retirement
Full Retirement means the retirement from the Board of Directors of a member after such member reaches the age of 70.
Full Retirement means the Termination of Employment on or after attainment of age 60 with 10 years of service, other than on account of an involuntary Termination of Employment, as determined by the Committee, in its discretion. For purposes of this Section 2.20, “years of service” is determined using the Participant's most-recent adjusted service date, as reflected at the Participant's Termination of Employment in the Company's records.
Full Retirement means the Optionee’s voluntary termination of employment, either (1) on or after attainment of age sixty-two (62) at a time when the sum of the Optionee’s age plus years of service with the Company or an Eligible Subsidiary is greater than or equal to eighty (80) or (2) Normal Retirement.
Full Retirement means the time at which a member who has already partially retired becomes entitled to receive any pension payable to him under this Section to which he is not already entitled under rule D.1A ;
Full Retirement. A voluntary Termination of Service when you are either (a) age 65 or older or (b) age sixty (60) or older and you have provided at least ten (10) years of service to the Company, in either case, where such Termination of Service is a bona fide end to your career in the industries and markets within which the Company does business. Capitalized terms not defined in this Agreement or the Award Notice but defined in the Plan have the same definitions as in the Plan. On any issues of interpretation arising from these Award Terms and Conditions and/or Plan definitions, the Committee’s decisions will be final and binding.
Full Retirement for the purpose of this provision means any bargaining unit member meeting the STRS minimum requirements but not more than 30 years service credit to apply toward the pension calculation.
Full Retirement means that employees completely retire from current job and enjoy retirement. From the perspective of employers, it is no doubt that every employees want to retire and enjoy their life with family and friends. However, nowadays, the life expectancy is increased and people can be healthier, many of them would prefer prolonging the working life.