Common use of Early Retirement Clause in Contracts

Early Retirement. A regular Employee who is age fifty- five (55) years or older and has completed ten (10) years of pensionable service as of the effective date of layoff may opt for early retirement and shall be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d), as determined by the Superannuation Commissioner. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s maximum retirement age.

Early Retirement. A regular Employee employee who is age fifty- five (55) 55 years or older and has completed ten (10) 10 years of pensionable service as of the effective date of layoff may opt layoff, and who has opted for early retirement and shall is entitled to severance pay pursuant to this article shall, upon application, be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d)value, as determined by the Superannuation CommissionerPension Plan, to the severance pay compensation. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s employee's maximum retirement age.

Early Retirement. A regular Employee employee who is age fifty- fifty-five (55) years or older and has completed ten (10) years of pensionable service as of the effective date of layoff may opt layoff, and who has opted for early retirement and shall is entitled to severance pay pursuant to this article shall, upon application, be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d)value, as determined by the Superannuation CommissionerUnion Pension Plan, to the severance pay compensation. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s employee's maximum retirement age.

Early Retirement. A regular Employee employee who is age fifty- five (55) 55 years or older and has completed ten (10) years of pensionable service as of the effective date of layoff may opt layoff, and who has opted for early retirement and shall is entitled to severance pay pursuant to this Article shall, upon application, be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d)value, as determined by the Superannuation CommissionerPension Plan, to the severance pay compensation. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s employee's maximum retirement age.

Early Retirement. A regular Employee employee who is age fifty- five (55) years 55 or older and has completed ten (10) 10 years of pensionable service as of the effective date of layoff may opt layoff, and who has opted for early retirement and shall is entitled to severance pay pursuant to this article shall, upon application, be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d)value, as determined by the Superannuation CommissionerPension Plan, to the severance pay compensation. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s employee's maximum retirement age.

Early Retirement. A regular Employee who is age fifty- fifty-five (55) years or older and has completed ten (10) years of pensionable service as of the effective date of layoff may opt for early retirement and shall be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d12.7(d), as determined by the Superannuation Commissioner. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s 's maximum retirement age.

Early Retirement. A regular Employee who is age fifty- fifty-five (55) years or older and has completed ten (10) years of pensionable service as of the effective date of layoff may opt for early retirement and shall be entitled to additional pensionable service equivalent in value to the amount of severance pay outlined in Article 12.9(d), as determined by the Superannuation Commissioner. Benefits under this provision shall not exceed the time that would be required to reach the Employee’s maximum retirement age.