Limits pension spiking for existing employees Sample Clauses

Limits pension spiking for existing employees. The bill attempts to restrict some items of pensionable compensation for existing employees by allowing only the amount earned and payable in each 12- month period during the final average pay period. Late amendments attempt to clarify that the new pension spiking rules are intended to be consistent with case law.
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Related to Limits pension spiking for existing employees

  • Benefits for Early Retirees The Hospital will provide to all employees who retire and have not yet reached age sixty-five (65) and who are in receipt of the Hospital’s pension plan benefits, semi-private, extended health care and dental benefits on the same basis as is provided to active employees, as long as the retiree pays the Employer the full amount of the monthly premiums in advance.

  • Existing Employees Existing employees who are covered by the coverage clause of this Agreement may become union members at any time. Employees shall, from the date of becoming union members, be bound by all the benefits and obligations relating to employees under this Agreement.

  • Compensation for Employees Employees shall receive compensation at the biweekly or hourly rate for the range and step or flat rate assigned to the class in which they are employed.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Eligibility for Sick Leave with Pay Employees shall be eligible for sick leave with pay immediately upon accrual.

  • Terminating Employees A) When a regular employee with more than twelve (12) months’ service terminates employment, the Employer shall pay for vacation entitlement accrued to the date of termination, less vacation pay if any, paid in accordance with this Article. Such vacation entitlement shall be calculated as follows: Days paid* (excluding overtime) to June 30 (in previous vacation x regular pay) x yearly vacation entitlement 261 +(plus) Days paid* (excluding overtime) to July 1 in the vacation year to the date of termination (inclusive) x regular pay x yearly vacation entitlement 261 * includes leave without pay up to twenty (20) days (reference Article 37 Leave – General)

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Continuing Employees “Continuing Employees” is defined in Section 6.4 of the Agreement.

  • Time Off for Elections Employees shall be allowed four (4) consecutive hours off before the closing of the polls in any Federal, Provincial, or Municipal election or referendum.

  • Transportation for Employees Transportation will be provided to employees who are required to work other than their normal working hours, and who must travel to or from their home during the hours between 11:30 p.m. and 6:00 a.m. and when convenient public transportation or other transportation facilities are not available. An employee shall be reimbursed for the cost of commercial transportation within their headquarters area, upon presentation of receipts.

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