Part-Time Pension Sample Clauses

Part-Time Pension. (1) The UPS Pension Plan will be improved to provide month- ly benefits for part-time employees not covered by Teamster Pension Plans as follows: The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased effective August 1, 2004 to fifty-five dollars ($55.00) for each year of past and future Credited Service to a maximum of thirty-five (35) years of Credited Service. The benefit formula in the UPS Pension Plan for current or future part-time employees who are partici- pants will be increased solely for purposes of the monthly accrued benefit, effective August 1, 2008 to sixty dollars ($60.00) for each year of future Credited Service to a maxi- mum of 35 years of Credited Service. If a participant is in Covered Employment on August 1, 2008, he shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year. The total monthly service pension benefit will be equal to the following provided the employee meets the Credited Service requirement. $1,925 $2,100 for retirement at any age after 35 years of part- time Credited Service $1,650 $1,800 for retirement at any age after 30 years of part- time Credited Service $1,375 $1,500 for retirement at age 60 with 25 years of part- time Credited Service $1,125 $1,250 for retirement at any age with 25 years of part- time Credited Service (based on $45.00 $50.00 per year of Credited Service)
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Part-Time Pension. After consultation between you and your employer, a deviation from the standard retirement age with an actuarial neutral recalculation of the benefit is possible.
Sample 1
Part-Time Pension. (1) The UPS Pension Plan will be improved to provide monthly benefits for part-time employees not covered by Teamster Pension Plans as follows: The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased effective August 1, 2004 to fifty-five dollars ($55.00) for each year of past and future Credited Service to a maximum of thirty-five (35) years of Credited Service. The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased solely for purposes of the monthly accrued benefit, effective August 1, 2008 to sixty dollars ($60.00) for each year of future Credited Service to a maximum of 35 years of Credited Service. If a participant is in Covered Employment on August 1, 2008, he they shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year. Effective August 1, 2023 the benefit formula in the UPS Pension Plan for current or future employees will be increased to sixty-five ($65.00) for each year of future Credited Service to a maximum of 35 years of Credited Service. If a participant is in Covered Employment on August 1, 2023, he shall receive the sixty-five dollars ($65.00) benefit formula for the entire 2023 plan year. The total monthly service pension benefit will be equal to the following provided the employee meets the Credited Service requirement. $2,275 $2,450 for retirement at any age after 35 years of part-time Credited Service $1,950 $2,100 for retirement at any age after 30 years of part-time Credited Service $1,625 $1,750 for retirement at age 60 with 25 years of part-time Credited Service $1,325 $1,450 for retirement at any age with 25 years of part-time Credited Service (based on $53.00 $58.00 per year of Credited Service)
Sample 1

Related to Part-Time Pension

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Part-Time Nurse is a Nurse hired to a position to work on a regular or temporary basis that is less than the work period of a Full-Time Nurse.

  • Part-Time Benefits A part-time employee shall receive in lieu of all fringe benefits (being those benefits to an employee, paid in whole or in part by the hospitals, as part of direct compensation or otherwise, including holiday pay, save and except salary, vacation pay, standby pay, call-in pay, responsibility pay, jury and witness duty, bereavement leave, and pregnancy and parental supplemental unemployment benefits) an amount equal to 14% of his regular straight time hourly rate for all straight time hours paid. For part-time employees who are members of the Hospital's pension plan the percentage in lieu of fringe benefits is twelve percent (12%).

  • Part-time Nurses a. If a regular part-time nurse works on one of the holidays set forth in paragraph A above, he/she will be paid for all time worked on said holiday at two (2) times his/her regular straight-time hourly rate of pay.

  • Part-Time Faculty A faculty member whose appointment is for a specified period of time and does not meet the full load requirements for an Academic Year as defined herein. Such appointment carries with it no promise or expectation of continued employment. Such appointments are not applicable towards tenure.

  • Part-Time Work An employee who is pregnant or is entitled to parental leave may, by agreement with the employer, reduce the employee’s hours of employment to an agreed extent subject to the following conditions:

  • Part-Time Only A rest period of fifteen (15) minutes will be granted during each half tour provided the duration of each half tour is not less than three (3) hours.

  • Part-Time Employee Part-time employee" means an employee who is normally scheduled to work fewer than 80 hours in a biweekly payroll period.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Part-Time An employee who is employed less than thirty (30) hours per week.

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