Early Retirement Options. The retirement may take the form of one of or a combination of the following systems or of other systems agreeable to both parties:
Early Retirement Options. Prior to issuing notice of layoff pursuant to the notice of layoff provision in this collective agreement, in any classification(s), the Employer will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classifications) who would otherwise receive notice of layoff under the notice of lay-off provision in this collective agreement. An employee who elects an early retirement option shall receive, following the completion of the last day of work, a retirement allowance of two (2) week’s pay for each year of service, to a maximum of fifty-two (52) weeks on the basis of the employee’s normal weekly earnings. A Full Time employee who elects this early retirement option and have not yet reached age 65 and who are in receipt of the Employer’s pension plan benefits and who at the time of electing this early retirement option are enrolled in the Employers benefit plan shall be provided equivalent coverage to that provided to other full time employees on the same basis as is provided to active employees for semi-private, extended health and dental benefits as defined in the collective agreement. The Employer will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Employer to the billed premiums of active employees. The employee will arrange with and provide the Employer either preauthorized payments or other arrangement suitable to the Employer and employee Note: The Employer may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.
Early Retirement Options. This letter confirms our discussions should the company implement an early retirement provision without penalty at age 62 for other Metroland (non-union) staff during the term of this agreement, then that improvement will be extended to the bargaining unit(s). Yours truly, Xxxxxx X. Xxxxxx Vice President, Human Resources Metroland Printing, Publishing & Distributing Ltd. BB/cd 01-018 April 21, 2004 Xx. Xxxxxx Law Local Representative CEP Local 87-M SONG 0000 Xxxxx Xx., Xxxx Xxxxxxx, XX X0X 0X0 Dear Mr. Law:
Early Retirement Options. All STRS early retirement options available in Board policy will be applicable to faculty members in the same manner as management personnel.
Early Retirement Options. During the life of this agreement the District board may, at its sole discretion, design and offer an early retirement program to ESP employed by the Board who have worked a minimum of fifteen (15) years within the School District. The early retirement program will only be available to the ESP if the School Board affirmatively votes to adopt an early retirement program to be applicable for any given school year.
Early Retirement Options. The District shall provide a voluntary Early Retirement Plan for teachers between the ages of 55 and 65 70.
Early Retirement Options. 1. Effective January 1, 2007, the Pension Plan shall be modified to provide for a vested benefit of 50% of final salary after 20.5 years of service, to be received upon reaching normal retirement age without pro-ration of the benefit under certain conditions. The retiring officer shall have the option to continue to make contributions to the Retirement Plan until reaching age 50 and have the pension benefit based upon the final average salary the officer would have attained at the age 50, or to cease contributions and to receive a pension at age 50 calculated using the salary earned at the time of leaving employment. Officers hired after January 1, 2015, shall be eligible for this option, except that they must continue to make contributions to the Retirement Plan until reaching the age of 55 and have the pension benefit based upon the final average salary the officer would have attained at the age of 55, or cease contributions and to receive a pension at age 55 calculated using the salary earned at the time of leaving employment.
Early Retirement Options. A. Program Number One:
Early Retirement Options. Prior to issuing notice of layoff pursuant to the notice of layoff provision in this collective agreement, in any the Employer will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classifications) who would otherwise receive notice of layoff under the notice of lay-off provision in this collective agreement. An employee who elects an early retirement option shall receive, following the completion of the last day of work, a retirement allowance of two (2) pay for each year of service, to a maximum of thirty (30) weeks on the basis of the employee’s normal weekly earnings. In addition, full- time employees will receive a lump sum payment equal to for every year less than age to a of An employee who elects an early retirement option shall be provided equivalent coverage to all full time employees who retire early and have not yet reached age and who are in receipt of the Employer’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health and dental benefits as defined in the collective agreement. The Employer will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Employer to the billed premiums of active employees. The employee will arrange with and provide the Employer either payments or other arrangement suitable to the Employer and employee.
Early Retirement Options. At the time of early retirement, qualified unit members may elect one of the following retirement options if applicable.
