Early Retirement Sample Clauses

Early Retirement. An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.
Early Retirement. A regular employee who is age 55 years or older and is entitled to receive a pension under the Public Service Pension Plan Rules, as of the effective date of layoff, and who has opted for and is entitled to severance pay pursuant to this article shall, upon application, be entitled to purchase all or part of any eligible service for which no contributions were made, as permitted by the Public Service Pension Plan Rules.
Early Retirement. A regular employee who is age 55 years or older and is entitled to receive a pension under the Pension (Public Service) Act or the Municipal Superannuation Act, as of the effective date of layoff, and who has opted for and is entitled to severance pay pursuant to this Article shall, upon application, be entitled to additional pensionable service equivalent in value, as determined by the Superannuation Commissioner, to the severance pay compensation. Benefits under this provision shall not exceed the time that would be required to reach the employee's maximum retirement age.
Early Retirement. If the Employee-Owner voluntarily retires prior to age __________ years, or if the Employee-Owner has not given the Company at least five (5) years' prior written notice of his or her intention to leave the Company's employ, the Purchase Price shall be reduced by 0.00 percent from the amount otherwise determined in Article II below.
Early Retirement. A fulltime faculty member, in order to facilitate gradual retirement, may, upon reaching the age of fifty-five (55), apply for status as a continuing part-time employee, with the percentage of work load to be mutually acceptable to the College and the employee, but not less than fifty percent (50%). Salary and benefits shall be prorated in accordance with the percentage of workload.
Early Retirement. If the Director, for any reason other than a change of control of the Bank or the Company, fails to serve on the Board of Directors for five consecutive years, the Director and/or Beneficiary will receive compensation which is reduced proportionately based on the number of full months served in relation to the required service of 60 months. For example, if the Director serves only 36 months, the Director will be entitled to 36/60 or 60% of the compensation stated in paragraphs "1" . In determining consecutive years of service, no year shall be counted in which the Director fails to attend at least two-thirds of the regularly scheduled meetings of the Board of Directors, except pursuant to the circumstances set forth in paragraph "6" below.
Early Retirement. If the Executive has attained his fifty-fifth birthday but has not attained his Normal Retirement Date, and has ten or more years of service, he may elect early retirement as of the first day of any calendar month following written notice of at least ninety days to the Corporation and the Committee. The Supplemental Benefit of the Executive who elects early retirement shall equal the benefit determined under Section 2 as of such date, reduced by five percent for each year (with proportionate allowance for complete months) by which the starting date of the benefit precedes attainment of his sixtieth birthday. With the consent of the Committee, the Supplemental Benefit shall be payable to the Executive pursuant to Section 2 commencing as of the first day of any calendar month on or after his early retirement and before his Normal Retirement Date. The request for benefit payment must be filed by the Executive in writing with the Committee at least thirty days prior to the date payments are requested to commence.
Early Retirement. Subject to Subparagraph II (D), should the Executive elect Early Retirement or be discharged without cause by the Bank subsequent to the Early Retirement Date [Subparagraph I (K)], the Executive shall be entitled to receive the annual benefit set forth in Exhibit A-2 reduced by the full number of years the Executive retires early prior to Normal Retirement Age, times eighteen and eighteen one hundredths percent (18.18%) (For example, if Executive retires at age 61, the annual benefit set forth in Exhibit A-2 shall be reduced by 72.72%: 61-65 = 4 X 18.18% = 72.72%). Said payments shall be made quarterly and shall commence at the beginning of the Bank's first quarter following the Executive's early retirement and shall continue until the Executive attains age seventy-seven (77). Upon completion of the aforestated payments and commencing subsequent thereto and subject to Subparagraph II (A) (i) hereinabove, the vested percentage set forth hereinabove of the Index Retirement Benefit for each Plan Year subsequent to the year in which the Executive attains age seventy-seven (77), and including the remaining portion of the Plan Year in which the Executive attains age seventy-seven (77), shall be paid to the Executive until the Executive's death.
Early Retirement. Where it has been determined that there is no alternative but to reduce the bargaining unit, the Company shall consider incentives for employees eligible to retire in an effort to reduce or eliminate the required layoff. Incentives may include: