Special Early Retirement definition

Special Early Retirement means retirement under Section 4.02 (b) of the Plan.

Special Early Retirement means, for purposes of Article 5, the retirement of a Participant from service with his or her Employer in connection with a Reorganization and pursuant to an opportunity provided by the Committee, at any time after the Participant has at least 15 years of Credited Service, but before the Participant has attained age 65.

Special Early Retirement means retirement of a Participant after age 60 but before age 65, provided that the Participant has at least 20 Years of Vesting Service at the time of retirement.

Examples of Special Early Retirement in a sentence

• Purchaser reserves the right to deny any of Seller’s employees, agents or subcontractors access to its or its customer’s premises and/or systems for any reason in Purchaser's sole discretion, including but not limited to such individual being a former employee of Purchaser who received layoff benefits or Special Early Retirement Option (SERO) benefits from Purchaser within the prior three years or whose last performance rating as an employee of Purchaser was less than satisfactory.

• Any change in the Supplementary Pension shall take effect on the same date as the corresponding increase under the GE Pension Plan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and Plant Closing Retirement Option Plan.

• Employees who have exercised the Special Early Retirement Option or Plant Closing Pension Option under the Pension Plan shall have the Special Early Retirement Option Offset deducted from any severance or layoff benefit otherwise due under this Article.

• In 4Q2015, 36 members of staff opted to take the Special Early Retirement Scheme offered by the Bank with departure date being 31 January 2016.

• If you are age 60 or over and you have 25 or more years of credited service you may elect Special Early Retirement in which case you will be entitled to an immediate accrued basic pension equal to the amount of basic pension to your credit for service to your date of early retirement, without reduction for your earlier age of retirement.

• A service retiree is an individual who immediately upon leaving active City employment is eligible for and begins receiving a retirement allowance for Age and Service Retirement (Section 1.203), Early Retirement (Section 1.208), or Special Early Retirement (Section 1.209), but does not include an individual receiving a retirement allowance for a Deferred Retirement (Section 1.

• Employees who have exercised the Special Early Retirement Option under the Pension Plan shall have the Special Early Retirement Option Offset deducted from any severance or layoff benefit otherwise due under this Article.

• Satisfying the requirements for Special Early Retirement and terminates employment.An employee eligible for a benefit under Appendix P of the Embarq Retirement Pension Plan component of the CenturyLink Component Pension Plan may have a different requirement for retirement.

• If you retire on or after January 1, 1996 after reaching age 55, and if your age plus years of credited service total 85 or more (but prior to having qualified for Special Early Retirement) you are entitled to unreduced pension.

• As described below, changes to Early Retirement and Special Early Retirement rules differ depending on the Schedule adopted by the bargaining parties.Changes to Deferred Vested Retirement rules and optional forms of payment are universal and apply regardless of the Schedule adopted by the bargaining parties.

More Definitions of Special Early Retirement

Special Early Retirement means Retirement where the Member qualifies for enhanced early retirement benefits as outlined in 8.003 ("Special Early Retirement Eligibility")S ection 8.03 and 8.002 ("Early Retirement Pension")S ection 8.02;

Special Early Retirement. A Member who had attained age and completed years of Credited Service as of April and who elects to retire on or after April shall be entitled to a pension from the Plan, subject to adjustment under sections and equal to Accrued Retirement Pension as determined at the date of retirement. shall also be entitled to a tempo- rary monthly pension from the Plan payable to Normal Retirement date (or until death of the Member, if earlier), equal to the Member’s Credited Service multiplied by This temporary monthly pension is not subject to adjustment under section Point Retirement A Member who retires from active employ- ment and has attained age and accumulated points (age plus Credited Service) may elect Point Retirement. Upon Point Retirement the Member shall be entitled to a pension from the Plan, subject to adjustment under Section and equal to Accrued Retirement Pension as determined at the date of retire- ment.

Special Early Retirement includes the following retirement classes: Class T-C, Class T-D, Class T-E, Class T-F, Class T-H members and Class T-G members. Employees With Less Than 10 Years of District Service as of July 1 2023 • Retirement payment shall be: o $45 per unused sick day for full-time employees o $40 per unused sick day for part-time employees Employees With At Least 10 Years of District Service As of July 1, 2023 • Retirement payment shall be: o Admin/Student Services & Custodial/Maintenance ▪ Full-Time (minimum 1,820 hours per year) • $115/per year of service with the total payment not to exceed $3,450 for full-time; OR • $45 per unused sick day ▪ Part-Time • $75 per year of service with the total payment not to exceed $2,250 for part-time employees who work a minimum of 1,080 hours per year; $45 per year of service with the total payment not to exceed $1,350 for part-time employees who work a minimum of 540 hours per year; OR • $40 per unused sick day o Transportation ▪ $100 per year of service, not to exceed $3,000; OR ▪ $45 per unused sick day for full-time employees; $40 per unused sick day for part-time employees

Special Early Retirement includes the following retirement classes: Class T-C, Class T-D, Class T-E, Class T-F, Class T-H members and Class T-G members.