Employee Pensions Sample Clauses

Employee Pensions. The provisions of the Pension Agreement for all Santa Xxxxx Valley Transportation Authority (VTA) employees, under the Collective Bargaining Agreement, are the subject of a separate agreement between the parties. For reference, the most current provisions are set forth in the Santa Xxxxx Valley Transportation Authority -Amalgamated Transit Union, Local 265 Pension Plan 2008 Printing. For all service that occurs through February 15, 2004, Eligibility and Benefit Service shall be calculated as specified in the 2003 Printing of the Pension Plan. For all service that occurs on or after February 16, 2004, Eligibility & Benefit Service shall exclude all periods as an Inactive Member as defined in Section 1.14.1 of the 2003 Printing of the Pension Plan. Employees will be permitted to make up inactive time by extending the duration of their employment. Effective February 2, 2004, Average Final Earnings shall be calculated by whichever of the following two methods results in the higher amount. METHOD ONE Divide the Periodic Pensionable Earnings received during the highest 78 consecutive pay periods by 78. No paired pay periods with earnings shall be skipped or dropped. However, paired pay period(s) with zero earnings shall be skipped and replaced with the next consecutive paired pay period(s) that do not have zero earnings. For purposes of this calculation, paired pay periods shall mean any pair of consecutive bi-weekly pay periods, with the further requirement that the first period of the pair shall be the first, third, fifth, etc. period ending in a calendar year. For years that contain 27 pay periods, if the 27th pay period contains no earnings, it shall be ignored. If the 27th pay period contains earnings, it shall be included as an unpaired pay period and the number of pay periods used in the calculation shall be increased by one (i.e. from 78 to 79). Divide Terminal Earnings by 78. Add the two figures together. Take the resulting figure, multiply it by 26 and then divide it by 12.
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Employee Pensions a. This sphere includes, inter alia, the pension rights of employees of the Civil Administration as well as employees of other bodies who are entitled to pensions from the Civil Administration in the Gaza Strip and the Jericho Area.
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Employee Pensions. (a) Save for the personal pension schemes comprising the Group Personal Pension Plan (“GPP”), there is not in operation as of, or at any time prior the Closing Date, and no proposal has been announced by the Company to enter into or establish, any agreement, arrangement, custom or practice for the payment by the Company of, or payment by the Company of a contribution towards, a pension, allowance, lump sum or other similar benefit on retirement, or death for the benefit of an employee or an employee’s dependants.
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Employee Pensions. 2.1. Abolishment of the uniform contribution rate In the Dutch pension system time-proportional pension accrual applies in each pension scheme. For the elderly, more contributions are needed than for young people for the same level of pension accrual. At industrywide pension funds, where an uniform contribution rate is mandatory, too much is paid for a younger employee and too little for an older employee. This system will be abolished. In the new pension system there will be age-independent contributions and the annual pension accrual will vary per age. This will have a massive impact. In our earlier article on the abolition of the uniform contribution rate we already wrote extensively about this.
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Related to Employee Pensions

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • ERISA; Benefit Plans Schedule 3.22 (i) lists (A) each ERISA Pension Benefit Plan (1) the funding requirements of which (under Section 302 of ERISA or Section 412 of the Code) are, or at any time during the six-year period ended on the date hereof were, in whole or in part, the responsibility of the Company or (2) respecting which the Company is, or at any time during that period was, a "contributing sponsor" or an "employer" as defined in Sections 4001(a)(13) and 3(5), respectively, of ERISA (each plan this clause (A) describes being a "Company ERISA Pension Plan"), (B) each other ERISA Pension Benefit Plan respecting which an ERISA Affiliate is, or at any time during that period was, such a "contributing sponsor" or "employer" (each plan this clause (B) describes being an "ERISA Affiliate Pension Plan") and (C) each other ERISA Employee Benefit Plan that is being, or at any time during that period was, sponsored, maintained or contributed to by the Company (each plan this clause (C) describes and each Company ERISA Pension Plan being a "Company ERISA Benefit Plan"), (ii) states the termination date of each Company ERISA Benefit Plan and ERISA Affiliate Pension Plan that has been terminated and (iii) identifies for each ERISA Affiliate Pension Plan the relevant ERISA Affiliates. The Company has provided Buyer with true, complete and correct copies of (i) the Company ERISA Benefit Plan and ERISA Affiliate Pension Plan, (ii) each trust agreement related thereto and (iii) all amendments to those plans and trust agreements. Except as Schedule 3.22 sets forth, (i) the Company is not, and at no time during the six-year period ended on the date hereof was, a member of any ERISA Group that currently includes, or included when the Company was a member, among its members any Person other than the Company and (ii) no Person is an ERISA Affiliate of the Company.

  • Multiemployer Plans Neither the Borrower nor any ERISA Affiliate has incurred any material liability (including secondary liability) to any Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan under §4201 of ERISA or as a result of a sale of assets described in §4204 of ERISA. Neither the Borrower nor any ERISA Affiliate has been notified that any Multiemployer Plan is in reorganization or insolvent under and within the meaning of §4241 or §4245 of ERISA or is at risk of entering reorganization or becoming insolvent, or that any Multiemployer Plan intends to terminate or has been terminated under §4041A of ERISA.

  • Multiemployer Plan “Multiemployer Plan” shall mean any “multiemployer plan” as defined in Section 4001(a)(3) of ERISA, which the Company or any of its Subsidiaries contributes to, or has an obligation to contribute to, which covers any current or former employee of the Company or any of its Subsidiaries.

  • ERISA The Employee Retirement Income Security Act of 1974, as amended.

  • Benefit Plans; ERISA (a) Section 2.09(a) of the Disclosure Schedule contains a true and complete list and description of each of the Benefit Plans and identifies each of the Benefit Plans that is a Qualified Plan and relates to Employees.

  • ERISA Affiliate Any Person which is treated as a single employer with the Borrower under §414 of the Code.

  • Employee Benefit Plans; ERISA (a) Except as disclosed in the Parent SEC Documents, there are no “employee benefit plans” (within the meaning of Section 3(3) of ERISA) nor any other employee benefit or fringe benefit arrangements, practices, contracts, policies or programs other than programs merely involving the regular payment of wages, commissions, or bonuses established, maintained or contributed to by Parent. Any plans listed in the Parent SEC Documents are hereinafter referred to as the “Parent Employee Benefit Plans.”

  • Welfare Benefit Plans During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

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