Special Retirement definition
Examples of Special Retirement in a sentence
Eligible employees electing this option will be designated by their seniority for a Special Retirement Bonus.
The Executive Pension Supplement for an Executive who meets the qualifications of Article 3 of the Plan retiring on an Early, Normal or Special Retirement Date will be calculated as described in Section 4.02(a) or (b).
Notwithstanding anything to the contrary herein, if Optionee is an employee, director or consultant of the Company or an Affiliate and ceases to be affiliated with the Company or any Affiliate as a result of Optionee’s death or Permanent Disability, or if Optionee’s death or Permanent Disability occurs following a Special Retirement, any unvested portion of this Option shall accelerate and become fully exercisable.
If Recipient is an employee, director or consultant of the Company or an Affiliate and ceases to be affiliated with the Company or any Affiliate as a result of Recipient’s death or Permanent Disability, or if Recipient’s death or Permanent Disability occurs following a Special Retirement, all of the RSUs shall become fully vested.
This Special Retirement Allowance provided these employees or retirees the option to transfer accumulated contributions from their Supplemental RetirementIncome Plan or Deferred Compensation Plan to the Teachers’ and State Employees’ Retirement System (TSERS) and/or the Local Governmental Employees’ Retirement System (LGERS).