Special Early Retirement definition

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.
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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.
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Special Early Retirement means retirement under Section 4.02 (b) of the Plan.
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Examples of Special Early Retirement in a sentence

  • 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.

  • The determination of a benefit under the Special Early Retirement Allowance shall be made in accordance with Section 7.5(b) of the Retirement Pension Plan.

  • 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.

  • For the avoidance of doubt, the Special Early Retirement Pension made available pursuant to this Appendix ERW shall be in lieu of the Special Early Retirement Pension pursuant to Rule 4.03 of the DB Program.

  • By accepting benefits pursuant to this Appendix ERW, a Covered Employee is conclusively presumed to have waived irrevocably any and all right to a Special Early Retirement Pension under Section 4.03 or to special early retirement benefits under the PepsiCo Salaried Plan (or any other plan maintained or contributed to by the Corporation or an Associated Company).

  • The Annuity Starting Date of such Special Early Retirement Pension shall be the first day of the month after the Vice President authorizes such Special Early Retirement Pension.

  • 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.

  • The Special Early Retirement Pension provided under this section is otherwise subject to all the usual limitations set forth in the DB Program.

  • Covered Employees shall not be entitled to, and shall not receive, a Special Early Retirement Pension pursuant to Section 4.03 of the DB Program.

  • A Member may be entitled to receive a Special Early Retirement Pension if his employment with both his Employer and the PepsiCo Organization terminates on or after age 50 but before age 55 and after completion of not less than 10 years of Service and only if such Special Early Retirement Pension payments have been authorized by the Vice President.


More Definitions of Special Early Retirement

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.
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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.
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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;
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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. • Retirement payment shall be: o $45 per unused sick day for full-time employees o $40 per unused sick day for part-time employees • Retirement payment shall be: • $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
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Related to Special Early Retirement

  • 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.

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

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

  • 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.

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

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

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

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

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

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

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

  • Disability retirement for plan 1 members, means the period

  • 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).

  • 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).

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • 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.

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

  • 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)).

  • Retirement Benefit means the benefit set forth in Article 5.

  • 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.

  • 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.

  • Accrued Benefit have the meanings specified in ERISA.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Retirement means Normal or Early Retirement.

  • Termination Benefit means the benefit set forth in Article 7.