SAFE HARBOR RETIREMENT PLAN definition

SAFE HARBOR RETIREMENT PLAN. CNA accepts the County's "Safe Harbor" retirement plan and agrees that said plan is offered in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
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SAFE HARBOR RETIREMENT PLAN. The Union agrees that the County's "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
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SAFE HARBOR RETIREMENT PLAN. VCPPOA accepts the County's "Safe Harbor" Retirement Plan and agrees that said plan is offered in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act. Sec. 406 RETIREMENT STATUS OF “PROBATION UNIT” EMPLOYEES: The parties agree that effective October 13, 2002, “Probation Unit” Employees were deemed to be prospectively eligible for the benefits provided “safety” members of the VCERA. The parties further agree that for all times and/or hours worked prior to that date, such “Probation Unit” employees were not, and cannot in the future be legitimately considered as having been, eligible for said “safety” status. Also effective October 13, 2002, such employees were no longer eligible for benefits of “FICA” (Social Security). The parties recognize that one result of this change in status is that those employed prior to October 13, 2002, will have a “blended” retirement, including both “safety” and “non-safety” service. The parties also recognize that since some Probation Unit Employees were previously “Tier I” “non-safety” members of VCERA while others were “Tier II” “non- safety” members, there may be variations in the individual calculations as- sociated with the change from “non-safety” to “safety” status. Finally, the parties recognize that the change to “safety” status did and will alter their respective financial obligations as set forth in Section 402.
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More Definitions of SAFE HARBOR RETIREMENT PLAN

SAFE HARBOR RETIREMENT PLAN. VEA agrees the County's "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
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SAFE HARBOR RETIREMENT PLAN. This is a retirement plan for employees working less than 64 hours per biweekly pay period. UAPD agrees the County’s “Safe Harbor” retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA) for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
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SAFE HARBOR RETIREMENT PLAN. VCPPOA accepts the County's "Safe Harbor" Retirement Plan and agrees that said plan is offered in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act.
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SAFE HARBOR RETIREMENT PLAN. Local 721 agrees the County's/APCD’s "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act. Sec. 404 RETIREMENT INCENTIVE - 30 YEAR EMPLOYEES: Regular, full-time employees who have thirty (30) years or more of regular County/APCD service and are no longer subject to retirement deductions, shall be paid a one percent (1%) retirement incentive, based on the employee’s base pay, on a biweekly basis. This incentive shall be taxable and not be considered part of the employee's base hourly rate of pay/salary. Payments made under the provisions of this section shall be calculated at the hourly rate of pay/salary rate in effect at the time such payment is made.
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SAFE HARBOR RETIREMENT PLAN. Local 998 agrees the County's "Safe Harbor" retirement plan is in compliance with the provisions of the Omnibus Budget Reconciliation Act (OBRA), for employees not eligible for coverage under the provisions of the 1937 Retirement Act. The County agrees to a Labor Management Committee to study the Safe Harbor Plan and the ability of employees to purchase/convert Safe Harbor credit into the Ventura County Employees Retirement Plan once they become eligible for the County’s plan. Sec. 404 RETIREMENT INCENTIVE - 30 YEAR EMPLOYEES: Regular, full-time employees who have thirty years or more of regular County service and are no longer subject to retirement deductions, shall be paid a four percent (4%) retirement incentive on a biweekly basis. This incentive shall be taxable and not be considered part of the employee's base hourly rate of pay/salary. Payments made under the provisions of this Section shall be calculated at the hourly rate of pay/salary rate in effect at the time such payment is made.
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Related to SAFE HARBOR RETIREMENT PLAN

  • 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 for plan 1 members, means the period

  • Covered employer means the City of Cambridge or a Beneficiary of Assistance.

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

  • 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.

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

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

  • 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 value in the aggregate as are payable thereunder prior to a Change in Control.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • 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.

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

  • Eligible employer means an employer that:

  • Public employees retirement system means the retirement plan and program

  • Salary reduction plan means a benefit plan whereby state and

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • 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.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 11 of the Plan.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • 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.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Retirement Eligibility means attainment of age 60 and completion of at least five (5) years of continuous service with the Company.

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

  • 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.