Correctional Pre-Fifty-Five Early Retirement Incentive Sample Clauses

Correctional Pre-Fifty-Five Early Retirement Incentive. Any teacher who attains the age of fifty (50) and who is covered by the Correctional Employees Retirement Plan (M.S. §§352.91 and 352.911) may opt to take advantage of the Pre-Fifty-Five Early Retirement Incentive at or after his/her fiftieth (50th) birthday and before his/her fifty-fifth (55th) birthday occurs. Teachers shall be provided with health and dental insurance to which the teacher was entitled at the time of retirement, subject to any changes in coverage in accordance with this or any subsequent Agreement. Teachers shall continue to receive an Employer contribution as set forth below until the teacher attains the age of sixty-five (65). Notwithstanding any changes in coverage in accordance with this or any subsequent Agreement, the Employer contribution shall be equal to one hundred twenty (120) times the amount of the monthly Employer contribution for health and dental insurance applicable to that teacher at the time of his/her retirement, divided by the number of months until the teacher attains the age of sixty-five (65) times the percentage calculated as follows:
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Correctional Pre-Fifty-Five Early Retirement Incentive. Any employee who attains the age of fifty (50) and who is covered by the Correctional Employees Retirement Plan (M.S. 352.90) may opt to take advantage of the Pre-Fifty-Five Early Retirement Incentive at or after his/her fiftieth (50th) birthday and before his/her fifty-fifth (55th) birthday occurs. Employees shall be provided with health and dental insurance to which the employee was entitled at the time of retirement, subject to any changes in coverage in accordance with this or any subsequent Agreement. Employees shall continue to receive an Employer Contribution as set forth below until the employee attains the age of sixty-five (65). Notwithstanding any changes in coverage in accordance with this or any subsequent Agreement, the Employer Contribution shall be equal to one hundred twenty (120) times the amount of the monthly Employer Contribution for health and dental insurance applicable to that employee at the time of his/her retirement, times the percentage calculated as follows:
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Related to Correctional Pre-Fifty-Five Early Retirement Incentive

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • EARLY RETIREMENT INCENTIVE PLAN 1. The Board will pay an allowance to continuing contract teachers who retire from teaching in the District under the Teachers' Pension Plan, before reaching age sixty (60), subject to the following conditions: The teacher must:

  • Oregon Public Service Retirement Plan Pension Program Members For purposes of this Section 2, “employee” means an employee who is employed by the State on or after August 29, 2003 and who is not eligible to receive benefits under ORS Chapter 238 for service with the State pursuant to Section 2 of Chapter 733, Oregon Laws 2003.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who:

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Special Maternity Allowance for Totally Disabled Employees (a) An employee who:

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement at the beginning of the following school year. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year of the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the year of submission, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the year of submission. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

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