Common use of Classic Members Clause in Contracts

Classic Members. Employees covered by this MOU who are defined as “Classic Members” are eligible for retirement benefits based on 2.7% at 55. Employees must have five (5) years of service credit and be a minimum age of 50 for a service retirement. HACLA contracts for the following optional benefits through PERS retirement. 1. Final compensation will be based on the highest average compensation earnable during the 12 consecutive months immediately preceding the effective date of his or her retirement, or some other 12 consecutive month period designated by the member; and 2. Military Service — Employees who have served in the Military may at their expense buy the time they served as PERS credit.

Classic Members. Employees covered by this MOU who are defined as “Classic Members” are eligible for retirement benefits based on 2.7% at 55. Employees must have five (5) years of service credit and be a minimum age of 50 for a service retirement. 1. HACLA the Authority contracts for the following optional benefits through PERS retirement. 12. Final compensation will be based on the highest average compensation earnable during the 12 consecutive months immediately preceding the effective date of his or her retirement, or some other 12 consecutive month period designated by the member; and 23. Military Service — Employees who have served in the Military may at their expense buy the time they served as PERS credit.

Classic Members. Employees covered by this MOU who are defined as “Classic Members” are eligible for retirement benefits based on 2.7% at 55. Employees must have five (5) years of service credit and be a minimum age of 50 for a service retirement. 1. The HACLA contracts for the following optional benefits through PERS retirement. 12. Final compensation will be based on the highest average compensation earnable during the 12 consecutive months immediately preceding the effective date of his or her retirement, or some other 12 consecutive month period designated by the member; and 23. Military Service — Employees who have served in the Military may at their expense buy the time they served as PERS credit.