Incentive Payment. (a) The College may offer and an employee may accept a one-time lump sum early retirement incentive based on the age at retirement to be paid as follows: % of Annual Salary Age at Effective Date of Retirement at Time of Retirement 55-59 100% 60 80% 61 60% 62 40% 63 20% 64 0%
Appears in 17 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement