Early Retirement Supplement. The Company shall have no obligation under this Section 6(d) unless the Employee executes and delivers to the Company a valid general release agreement in a form reasonably acceptable to the Company in which the Employee releases the Company from any and all possible liability, including, without limitation, any and all liability based on the Employee's employment or the termination of his employment.
Early Retirement Supplement. To the extent that any Early Retirement Supplement is payable under the GRP to a Group I or Group II Employee, the amount of the total monthly benefit used for determining the Early Retirement Supplement shall be determined as follows: The amount of the total monthly benefit that would otherwise be used for determining the Early Retirement Supplement under the GRP at the time the Group I or Group II Employee retires shall be multiplied by a fraction, the numerator of which is the number of years of credited service, including fractions of a year, under the GRP not to exceed thirty years, and the denominator of which is thirty. To the extent that any Early Retirement Supplement is payable under the Visteon Mirror GRP to a Group I or Group II Employee, the amount of the total monthly benefit that would otherwise be used for determining the Early Retirement Supplement under the Visteon Mirror GRP at the time the Group I or Group II Employee retires shall be multiplied by a fraction, the numerator of which is thirty less the number of years (not to exceed thirty) of credited service, including fractions of a year, under the GRP to the Benefit Transition Date and the denominator of which is thirty. In the event the Group I or Group II Employee has credited service under the GRP of thirty or more years as of the Benefit Transition Date, no Visteon Mirror Supplement shall be payable.
Early Retirement Supplement. To the extent that an Early Retirement Supplement is payable under the GRP to a Group I or Group II Employee who has completed at least 30 years combined GRP and Visteon Mirror GRP credited service, the amount of the Early Retirement Supplement shall be computed as described below:
Early Retirement Supplement and the Transferred Employee meets the eligibility conditions, the amount of the benefit payable under the GRP shall be determined as follows: The Early Retirement Supplement in effect at retirement shall be multiplied by a fraction, the numerator of which shall be the years of credited service under the GRP (not to exceed thirty years) and the denominator of which shall be thirty years. For example, a Transferred Employee with ten years of GRP credited service prior to July 1, 2000 and 25 years of service with Visteon and ACH on and after July 1, 2000 for total combined service of 35 years shall be eligible for 10/30 of a GRP Early Retirement Supplement payable to age 62 and one month.
Early Retirement Supplement maintained for all employees whose pension credited service date is January 1, 1991 or earlier. Eliminated for all other employees.
Early Retirement Supplement. Effective March 16, 2001, for the employee who retires on or after that date, if sixty (60) years of age or greater, a supplement of $20.50 per year of credited service will be paid until age 65. Effective March 16, 2002, for the employee who retires on or after that date, if 60 years of age or greater, a supplement of $21.50 per year of credited service will be paid until age 65. Effective March 16, 2003, for the employee who retires on or after that date, if 60 years or greater, a supplement of $22.50 per year of credited service will be paid until age 65.
Early Retirement Supplement. If a Participant retires on or after May after attaining age with years of service he/ she shall be entitled to receive a supplementary payment commencing on his/her early retirement date and ending on the earlier of the first day of the month following the attainment of age or the first day of the month following the date of death of the Participant. The amount of such supplementary payment shall be calculated as follows: For those who retire on or before the attainment of age times the number of years of credited service not exceeding with proportional allowance for completed months, reducing on the first day of the month following the attainment of years of age to times such service. Effective May bridging will increase to times the number of years of credited service not exceeding with proportional allowance for completed months, reducing on the first day of the month following the attainment of years of age to times such service. Participants over age with years of service who retire before age will be eligible for the bridging supplement with a reduction of of per month for each month that retirement precedes age The payment amount reduces on the first day of the month following the attainment of years of age to times such service. For those who retire after the attainment of years of age, times the number of years of Credited Service not exceeding with proportional allowance for completed months. For participants retiring after May and who have attained age or over on May and who have also completed at least years of service on May shall receive a bridging supplement of per month for each year of credited service up to a maximum of years. Such bridging supplement shall cease when the participant reaches age
Early Retirement Supplement. (Bridge) With thirty (30) years of pensionable service, regardless of age, an employee selecting early retirement shall receive an early re- tirement supplement of:
Early Retirement Supplement. Employees who retire from active employment with 5 or more years of Plan membership shall receive an early retirement supplement ceasing at the earlier of age 65 or the employee's death. The full supplement is the amount required to bring your accrued pension up to 2% of Best Average Earnings for each year of Credited Service. As an early retiree you would be eligible to receive a minimum of 25% of the supplement if you have completed 5 years of Plan Membership. The following table shows how the supplement increases with years of Plan Membership: Completed Years Of Percentage Of Plan Membership Supplement less than 5 0% 5 and less than 10 25% 10 and less than 15 50% 15 and less than 20 75% 20 or more 100%
Early Retirement Supplement. The District will pay licensed teachers hired before July 1, 2004 a retirement supplement in accordance with the following:
