Rule of 70 definition

Rule of 70 means any combination of the retiree’s minimum age 50 (at last birthday preceding Board approved retirement date) plus full years of probationary or regular District service equivalent to 70 years or more.

Rule of 70 means, and is deemed satisfied if, the sum of (A) Participant’s age, and (B) the number of Participant’s years of continuous service to Corporation and/or the Successor, equals or exceeds seventy (70). For purposes of determining whether the “Rule of 70” has been satisfied, only completed years of service shall be counted as service years. 5.

Rule of 70 has the meaning set out in the Evercore LLP Agreement;

Examples of Rule of 70 in a sentence

• Under the terms of this Agreement, you also are eligible for P&G retiree healthcare coverage as a Special Retiree by satisfying the Rule of 70 as of your Last Day of Employment.

• If the Participant fails to satisfy any applicable Release Requirement within the time period for doing so, the amount payable to the Participant shall be determined using the early commencement adjustment factors applicable to a vested terminated Participant and not the factors applicable to a Participant who is Rule of 70 Eligible.

• Because the Company believes the foregoing would violate Code section 409A, the Company has adopted the special provisions relating to Rule of 70 Eligibility stated herein that apply to Participants who have a Separation from Service on or after January 1, 2005.

• You satisfy the Rule of 70 when your full years of age plus your full years of service equal 70.

• If Xxxxxxx’s employment with the Company terminates (other than for Cause) prior to the expiration of the Performance Period and on or after Xxxxxxx’s Rule of 70 Date, as defined below, then the Award shall be earned on a pro-rata basis and paid based on the Total Shareholder Return calculated through the end of the Performance Period, as if the Grantee remained an active employee of the Company.

• Further, a Participant who is Rule of 70 Eligible may be entitled to more favorable early commencement adjustment factors pursuant to the terms of the applicable Retirement Plan.

• A Participant is “Retirement Eligible” if the Participant meets or will meet by the end of the Performance Period, either of the following: (i) the Participant has satisfied the Rule of 70 and is at least age 55 or (ii) the Participant is at least age 65 regardless of satisfaction of the Rule of 70.

• For example, if a Participant has an election to receive benefits in installments and that election applies if she is Rule of 70 Eligible upon Separation From Service (but not otherwise), she could effectively revoke that election at Separation From Service and receive payment in the default form of payment by intentionally not satisfying the Release Requirements.

• To be Rule of 70 Eligible, a Participant must, among other things, satisfy the Release Requirements as defined under the definition of Rule of 70 Eligible.

• Members who suffer a non-occupational disability after satisfying the Rule of 80 are therefore assumed to retire on service retirement.• JRS I Members are not eligible for non-occupational disability retirement if they are eligible for service retirement under the Rule of 70.

More Definitions of Rule of 70

Rule of 70 means a Participant’s age plus Years of Service equals seventy (70).

Rule of 70 means that the Participant has met the provisions in Section 3.2(b) of the Mead Johnson & Company Retirement Plan.

Rule of 70 means the special requirements for early retirement as described in Section 3.2 of the Mead Johnson Nutrition (Puerto Rico) Inc. Retirement Plan.

Rule of 70 means when an Employee’s years of service with the Company or its Affiliates or predecessors (must be at least 10 years, based on 120 months of continuous employment, not calendar years) plus his or her age (must be at least 55 years old) on the date of termination of service equals or exceeds 70. An Employee’s “service” for purposes of this Program shall continue until he or she is no longer serving in the role as employee, director or consultant of the Company or any Affiliate.

Rule of 70 means, and is deemed satisfied if, as of the date of determination, the sum of (i) Participant’s age, and (ii) the number of Participant’s years of continuous service to Corporation and/or the Successor, equals or exceeds seventy (70). For purposes of determining whether the “Rule of 70” has been satisfied, only completed years of service shall be counted as service years. (f) “Statement of Performance Objectives” means the statement of Performance Objectives as approved by the Administrator with respect to the Performance Shares on the Grant Date and attached as Exhibit A hereto. (g) “Vesting Date” means the Original Vesting Date, or, if earlier, the date on which the Performance Shares actually become earned and nonforfeitable by Participant pursuant to the terms of this Agreement.

Rule of 70 means, and is deemed satisfied if, the sum of (i) Participant’s age, and (ii) the number of Participant’s years of continuous service to Corporation and/or the Successor, equals or exceeds seventy (70). For purposes of determining whether the “Rule of 70” has been satisfied, only completed years of service shall be counted as service years. (f) “Statement of Performance Objectives” means the statement of Performance Objectives as approved by the Administrator with respect to the Performance Shares on the Grant Date and attached as Exhibit A hereto. (g) “Vesting Date” means the Original Vesting Date, or, if earlier, the date on which the Performance Shares actually become earned and nonforfeitable by Participant pursuant to the terms of this Agreement.