Common use of Bridge Benefit Clause in Contracts

Bridge Benefit. Bridging is paid directly by the Company to employees aged 61 or older who opt to retire early. Present bridging is $20/month/yr of service. The bridging will not be payable beyond age 65. An employee who chooses to retiree at age 60 shall have access to the bridging benefit paid by the Company when they reach age 61. From the date the fund in Article VII is established, the bridge benefit from age 60 until he/she reach age 61 will be paid from the fund.

Bridge Benefit. (a) Bridging is paid directly by the Company to employees aged 61 or older who opt to retire early. Present bridging bridg- ing is $20/month/yr month/ year of service. The bridging will not be payable beyond age 65. . (b) An employee who chooses to retiree retire at age 60 shall have access to the bridging benefit paid by the Company when they reach age 61. From the date the fund in Article VII Wages is established, the bridge benefit from age 60 until he/she they reach age 61 will be paid from for by the fund.