Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.
Deferred Retirement. Any employee who is otherwise qualified to be paid the sick-leave buy-back, so called, that is described in the preceding paragraph (g) but who, having given notice thereof to the University, defers his/her retirement in accordance with the requirements of the State Retirement Act shall be entitled to be paid his/her sick-leave buy-back when he/she actually retires, and the value thereof shall be calculated on the basis of his/her rate of pay as it was when he/she was last employed as a member of the bargaining unit.
Deferred Retirement. An employee, who leaves employment and elects to defer retirement benefits, shall receive payment representing fifty percent (50%) of his/her accumulated and unused Sick Leave computed on the basis of the employee's salary at termination of employment. This payment shall not be made until the former employee begins to receive retirement benefits. In case the former employee dies prior to the time that the retirement benefits are to begin, said accumulated payoff shall be made to the deceased employee's Sick Leave Payoff designee and shall be paid at the time of death.
Deferred Retirement. If a Participant should continue in the employ of the Employer beyond his Normal Retirement Date in accordance with Section 4.3, the Trustee shall convert the contracts on the life of such Participant to reduced paid-up contracts under the provision of such contracts relating to default in premium payment so that, subject to the terms and conditions of the provision for the purchase of additional retirement benefits, a deferral of such Participant's retirement benefits can be accomplished until his actual retirement. Upon actual retirement, the Trustee shall make application to the insurance company to obtain for such Participant the retirement benefits to which he may be then entitled. In lieu of such action, the Trustee may direct the insurance company to pay the cash value of the contracts on the life of such Participant to the Trustee for distribution pursuant to Article IX. If term life insurance has been purchased and if the Participant should continue in the employ of the Employer beyond his Normal Retirement Date in accordance with Section 4.3, the Committee shall have the right to direct that the Trustee continue the term life contracts on the life of such Participant
Deferred Retirement. A Participant who continues in the employment of a Company after his Normal Retirement Date shall continue to participate in this Plan, and contributions shall be allocated to his Company Contributions Account as otherwise provided in this Plan. Any such Participant who elects Deferred Retirement shall be entitled to benefits under this Plan payable at his Deferred Retirement Date in the same manner as if he had retired on his Normal Retirement Date; provided, however, that the deferral of benefit payments after a Participant's Normal Retirement Date shall be permitted only to the extent authorized by and in compliance with all requirements imposed under Section 2530.203-3 of the Department of Labor Regulations which are incorporated herein by reference.
Deferred Retirement a. An employee who, upon separation from Authority employment, is eligible for paid retirement and elects deferred retirement must defer participation in the Retiree Medical Insurance Grant until such time as he/shethey becomes an active retiree. .However, in order to be eligible for health care coverage provided by XxxXXXX, retirement must not be deferred for more than one hundred twenty (120) days after the employee separates from Authority employment.
Deferred Retirement. Should mandatory retirement at age 65 be no longer permitted by law in this province and a regular employee continues in employment beyond his normal retirement date as defined in B.4 (a), the following conditions shall govern such employment and be added to the Collective Agreement.
Deferred Retirement. 3 Section 1.15. Deferred Retirement Date.......................3 Section 1.16.
Deferred Retirement. A regular employee, as defined in Article 9, Employee Defined, who leaves employment and elects to defer retirement benefits, shall receive payment representing fifty percent (50%) of his/her accumulated and unused Sick Leave computed on the basis of the employee's salary at termination of employment. For employees hired on or after January 1, 1974, this payment shall not be made until the former employee begins to receive retirement benefits. In case the former employee dies prior to the time that the retirement benefits are to begin, said accumulated payoff shall be made to the deceased employee's Sick Leave Payoff designee and shall be paid at the time of death.
Deferred Retirement. Employees who separate from employment with the City, on or after May 12, 2009, and who at the time of leaving City employment do not begin receiving a retirement benefit payment are not eligible to continue to participate in the City sponsored group health care plan except as provided under COBRA, and are not eligible for any City contribution towards retiree health care costs. Deferred retirees who do not begin withdrawing from his/her individual account may not reenter the City health care plan at a later date.
