Mandatory Retirement Plan definition

Mandatory Retirement Plan means any plan, scheme, program or arrangement sponsored or administered by any Governmental Authority or required to be maintained by applicable Law or under a Bargaining Agreement.
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Examples of Mandatory Retirement Plan in a sentence

  • Subject to the provisions of K.S.A. 76-746 and K.A.R. 88-12-1 through 8, an unclassified employee aged 55 or older who is participating in the Kansas Board of Regents Mandatory Retirement Plan may enter into a written agreement with the employing institution whereby the employee shall accept a position which is less than full-time but at least one-fourth time, and the institution shall provide benefits on a full-time basis for up to five years.

  • Members of the faculty are eligible for and required to become members of the Board of Regents Retirement Plan as described in the Board of Regents' Regents’ Mandatory Retirement Plan after one (1) year of employment.

  • The Regents phased retirement program (hereinafter "the program") shall be open to all full-time, benefits-eligible unclassified employees of FHSU who are participating in the Kansas Board of Regents Mandatory Retirement Plan and who have attained age 55 and completed 10 years of full-time service.

  • To fulfill the Board’s fiduciary responsibility for oversight of its Mandatory Retirement Plan, appropriate management and periodic review of the investment options provided under the Plan are required.

  • Problem 3You were lucky enough to find a visual binary system in the cluster.

  • Background on Mandatory Retirement PlanIn 1962 the Legislature authorized the Board to establish a Mandatory Retirement Plan under Internal Revenue Code Section 403(b) in order to provide retirement income for faculty and unclassified employees at the state universities and Board staff.

  • This issue paper addresses the Board’s oversight of the Mandatory Retirement Plan and the composition of the Board-created Retirement Plan Committee (RPC).

  • However, in order to maintain your eligibility for State-paid retiree health insurance coverage, you must be receiving a monthly retirement benefit from a North Carolina Mandatory Retirement Plan and meet eligibility for retiree health coverage.

  • The RPC’s assigned duties include oversight of the Mandatory Retirement Plan, including its administration and its investments, as well as having the responsibility for creating and reviewing plan documents and investment provider agreements, implementing an investment policy with performance standards, and reviewing the investment performance on a semi-annual basis.

  • VOLUNTARY SAVINGS — VOLUNTARY TAX-SHELTERED ANNUITYSee options above under Kansas Board of Regents Mandatory Retirement Plan.

Related to Mandatory Retirement 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.

  • 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.

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

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

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

  • 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)).

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

  • Retirement means Normal or Early Retirement.

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

  • Disability retirement for plan 1 members, means the period

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

  • Continuing care retirement community means a residential