Ordinary Retirement definition

Ordinary Retirement means the retirement of the Optionee on a date upon which, if the Optionee is an employee, the sum of the Optionee’s age and number of years of employment with the Company equals or exceeds eighty-five (85) years or, if the Optionee is a non-employee director, the number of years of Service to the Company exceeds five (5) years.
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Ordinary Retirement means the Optionee’s termination of employment, other than for Cause, death or Disability, following the attainment of the Optionee of at least age sixty, which does not constitute a Special Retirement.
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Ordinary Retirement means the retirement of the Participant on a date upon which, if the Participant is an employee, the sum of the Participant’s age and number of years of employment with the Company equals or exceeds eighty-five (85) years or, if the Participant is a non-employee director, the number of years of Service to the Company exceeds five (5) years. Upon forfeiture, Participant will no longer have any rights relating to the unvested Shares, including the right to vote the Shares and the right to receive dividends, if any, declared on the Shares.
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Examples of Ordinary Retirement in a sentence

  • If the Optionee’s employment with the Company terminates as a result of an Ordinary Retirement (as defined below), then the Optionee (or any individual authorized to act on the Optionee’s behalf) may exercise the Option, to the extent it was exercisable on the date of Optionee’s Ordinary Retirement, for four years following such date.

  • In addition, the funded regime offers (e) Ordinary Retirement (RO); and (f) survivors’ and disability benefits to those who choose this scheme.

  • For purposes of this Agreement, “ Ordinary Retirement ” shall mean the retirement of the Optionee on a date upon which, if the Optionee is an employee, the sum of the Optionee’s age and number of years of employment with the Company equals or exceeds eighty-five (85) years or, if the Optionee is a non-employee director, the number of years of Service to the Company exceeds five (5) years.

  • The Company will in addition to the Ordinary Retirement Scheme arrange for early retirement benefits covering the period 60 to 65 years of age (enclosure).

  • For wives, since they are not eligible to either the Early Retirement or Ordinary Retirement scheme in the sample, a withdraw from the labor force is characterized with zero labor income with full leisure, and is thus labeled as 'not to work'.coexist.

  • Any Disability pension received from Social Security or Ordinary Retirement Scheme shall reduce the Early Retirement Pension to such an extent that the total resulting pension does not exceed 70 per cent of pensionable earnings up to 50 base amounts.

  • The Parties further agree that Options 5, 6 and 7 shall not be subject to Ordinary Retirement and shall terminate on the close of business on the Retirement Date.

  • Ordinary Retirement (as defined in Section 2(c)) or Optionee’s death or Permanent Disability (as defined in the Plan and within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended), Optionee may at any time within a period of three (3) months after such termination exercise the Option to the extent the Option was exercisable by Optionee on the date of the termination of Optionee’s employment or Service.

  • For example, a separate system exists for certain state and government officials (Clases Pasivas del Estado), which - for some specific occupational classes depending on their contribution history - provides a flat-rate benefit, among other defined benefit provisions.The pension system has a single benefit eligibility track known as Ordinary Retirement (Jubilación Ordinaria), available at the statutory retirement age with a minimum number of contributory years.

  • The contributions that would have been made to the Employee's Ordinary Retirement Arrangement had the Employee stayed in service until 65, will be made by the Company.


More Definitions of Ordinary Retirement

Ordinary Retirement. Ordinary retirement is defined as termination of pastoral responsibility and assignment, officially declared by the Xxxxxx at any time after a priest reaches the full retirement age or normal retirement age as defined by the Social Security Administration (cf. xxxxx://xxx.xxx.xxx/planners/retire/retirechart.html). The actual date of retirement for purposes of this agreement shall be determined by mutual agreement between the Xxxxxx and the retiring priest.
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Ordinary Retirement means the Optionee’s termination of employment, other than for Cause, death or Disability, following the attainment of the Optionee of at least age sixty, which does not constitute a Special Retirement. “Special Retirement” shall mean the Optionee’s termination of employment, other than for Cause, death or Disability, following the attainment of the Optionee of at least age sixty with five (5) years of continuous service with the Company as of the date of such termination of employment, provided that, if the Optionee is, at the time of such termination of employment, subject to the reporting requirements of Section 16 of the Exchange Act, the Optionee has provided the Company with at least six months prior written notice of the Optionee’s termination of employment and that notice has been accepted by the Committee.
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Ordinary Retirement under the GPUAR means “a retirement of depreciable plant that results from causes reasonably assumed to have been anticipated or contemplated in prior depreciation or amortization provisions.” No debit or credit to income or to retained earnings is permitted for an ordinary retirement. When a retirement is treated as an ordinary retirement and there are no removal costs or salvage value associated with the retirement, the net plant amount in rate base does not change.
Sample 1

Related to Ordinary Retirement

  • Qualified Retirement means any termination of your employment with the Company Group that occurs on or after your 60th birthday, at a time when no member of the Company Group is entitled to discharge you for Cause, so long as you have served the Company Group continuously for at least the five-year period immediately preceding that termination.

  • 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.

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

  • Disability retirement for plan 1 members, means the period

  • 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.

  • Mandatory Retirement means termination of employment pursuant to the Company’s mandatory retirement policy.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

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

  • 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 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.

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

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

  • 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)).

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

  • 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.

  • Retirement Age means the earlier to occur of the Participant attaining: (i) age 65 or more; or (ii) age 60 or more with at least 15 years of continuous Service, provided that the Participant has continuously remained in Service from the Award Date until the earlier to occur of (i) or (ii).

  • 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.

  • Retires shall refer to the date which the Executive acknowledges in writing to Employer to be the last day the Executive will provide any significant personal services, whether as an employee or independent consultant or contractor, to Employer. For purposes of this Agreement, the phrase "significant personal services" shall mean more than ten (10) hours of personal services rendered to one or more individuals or entities in any thirty (30) day period.

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

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Retirement means Normal or Early 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.

  • 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.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.