Early Retirement Reductions Sample Clauses

Early Retirement Reductions. An employee retiring from the service of the Company on an Early Retirement Date prior to age 62 will receive their Accrued Benefit reduced by 1/3% for each month that the Early Retirement Date precedes the first of the month coincident with or next following the employee's 62nd birthday. The benefits will be further reduced if the employee retires under the Spouse Option. An employee retiring from the service of the Company on an Early Retirement Date at or after age 62, or on a Normal Retirement Date, or on a Disability Retirement Date will have their Accrued Benefit reduced only to reflect an election of the Spouse Option, if applicable.
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Early Retirement Reductions. For employees who are active on or after July 11, 1993, an employee retiring from the service of the Company on an Early Retirement Date prior to age 62 will receive their Accrued Benefit reduced by 1/4% for each month that the Early Retirement Date precedes the first of the month coincident with or next following the employee's 62nd birthday. The benefits will be further reduced if the employee retires under the Spouse Option.
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Early Retirement Reductions. During the term of the current Collective Agreement, there are Early Retirement Windows. See 8 on page 7.
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Early Retirement Reductions. If you choose to retire early, your Basic Pension at the time you retire will be actuarially reduced from the date you would be age 60 and have 10 years of Credited Service. If you choose to retire early and you qualified for early retirement at December 31, 2001, your pension will be reduced as follows:
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Early Retirement Reductions. During the term of the current Collective Agreement, there are Early Retirement Windows. See 8 on page 101. Note: All retirements are on the first day of the month.
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Early Retirement Reductions. Not qualified for early retirement at December 31, 2001 If you choose to retire early and you did not qualify for early retirement at December 31, 2001, your Basic Pension will be reduced to the actuarial equivalent of the pension you would have received if you were age 60 and had 10 years of Credited Service.
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Early Retirement Reductions. If you choose to retire before age 62, or before you have 35 years of credited service or before your age plus service equals 90, your pension will be reduced. In determining the amount of this reduction, the reduction factor based on your age and the reduction factor based on your “Age Plus Service = 90” are compared and the smaller reduction factor is used.
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Related to Early Retirement Reductions

  • 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 Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement Age Early Retirement Age is the later of: (i) the date a Participant attains age ; (ii) the date a Participant reaches the anniversary of the first day of the Plan Year in which the Participant commenced participation in the Plan; or (iii) the date a Participant completes Years of Service. [Note: The Employer should leave blank any of clauses (i), (ii) and (iii) which are not applicable.] If (f)(iii) is selected, “Years of Service” under this Election 34(f)(iii) means (Choose (1) or (2).):

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Optional Reductions The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans, Swing Line Loans and L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 12:00 noon five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $2,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) the Borrower shall not terminate or reduce (A) the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, (C) the Swing Line Sublimit if, after giving effect thereto and to and to any concurrent prepayments hereunder, the Outstanding Amount of Swing Line Loans would exceed the Swing Line Sublimit and (D) the Alternative Currency Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Loans denominated in an Alternative Currency would exceed the Alternative Currency Sublimit.

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • 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.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

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