Pension Rights. 17.01 All Employees covered by this Agreement shall participate in a Defined Contribution pension plan as set forth in an Agreement between the Employer and Sun life Financial and outlined in 17.02. (The Defined Contribution plan – registration no. C-44803)
Pension Rights. As from the Commencement Date, the Director shall be included in the Pension Regulations of “Stichting Philips Pensioenfonds” applicable to executives of your level, in respect of the pensionable salary up to the current statutory limit of EUR 101,519 which may change from time to time (“Statutory Pensionable Salary”) if and as soon as he meets the requirements set out in those pension regulations. In respect of the pensionable salary exceeding the Statutory Pensionable Salary, the Director shall be entitled to the pension allowance applicable to executives of your level, in accordance with the rules and conditions governing this pension allowance. The level of the pension allowance is and remains at the discretion of the Company. Currently, the pension allowance for the part of the Annual Base Compensation exceeding the Statutory Pensionable Salary is set at 25% of the Annual Base Compensation exceeding the Statutory Pensionable Salary. In addition, the Director will receive an individual transition allowance of EUR 88,236 (gross) per annum (the “Transition Allowance”) through 2019, which will be paid in monthly installments. For the years 2020 through 2022, the Director is entitled to a reduced Transition Allowance: - In 2020 he will receive 75% of the Transition Allowance; - In 2021 he will receive 50% of the Transition Allowance; - In 2022 he will receive 25% of the Transition Allowance; No Transition Allowance shall be due beyond 2022.
Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Philips Executives Pension Plan of “Stichting Philips Pensioenfonds”.This plan is a combination of average pay (annual accrual percentage:1 .25%) and defined contribution (employer contribution: 20%). The target retirement age under this plan is 62.5, no employee contribution is required. The pension base is your annual gross salary, as mentioned in paragraph 3 hereof, minus the offset (so-called “franchise”). For further information, please refer to the plan rules with “Stichting Philips Pensioenfonds”. Employment contract between the Company and Mx X.X. Xxxxxxxx 4
Pension Rights. Except as provided in this Agreement, the City agrees not to change or diminish employee pension benefits provided by Chapters 34 or 36 of the City Charter. Employees covered by this Agreement, individually and collectively, expressly consent and agree to the changes in pension benefits specified in this Agreement even though their implementation by subsequent legislation may be considered a diminishment or impairment of annuities and other benefits within the meaning of Section 36.13(2) of the ERS Act.
Pension Rights. 1. Effective January 1, 2013 the existing Police Pension Plan will be closed to all new hires; All new hires after January 1, 2013 and all existing officers will be given the option to participate in the Florida Retirement System.
Pension Rights. As from the Commencement Date, you shall be included in the Pension Regulations of “Stichting Philips Pensioenfonds” applicable to executives, in respect of your pensionable salary up to the current statutory limit of EUR 128,810 which may change from time to time (“Statutory Pensionable Salary”) if and as soon as you meet the requirements set out in those pension regulations. In respect of your pensionable salary exceeding the Statutory Pensionable Salary, you shall be entitled to the pension allowance applicable to members of the Executive Committee, in accordance with the rules and conditions governing this pension allowance. The level of the pension allowance is and remains at the discretion of the Company. Currently the pension allowance for the part of your Annual Base Compensation exceeding the Statutory Pensionable Salary is set at 25% of your Annual Base Compensation exceeding the Statutory Pensionable Salary.
Pension Rights. There are now no employees of Town who perform the law enforcement services to be performed by employees of the County as herein provided, and there are no pension rights of any employee of Town to be provided for by virtue of this Agreement.
Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Philips Executives Pension Plan of “Stichting Philips Pensioenfonds”. The pension plan is a combination of average pay (annual accrual percentage: currently 1.25%) and defined contribution (employer contribution: currently 20%). The target retirement age under this plan is 62.5. No employee contribution is required. The pension base is your annual gross salary, as mentioned in paragraph 3 hereof, minus the offset (so-called “franchise”). For further information, please refer to the plan rules with “Stichting Philips Pensioenfonds” and the chapter benefits on the attached CD-rom.
Pension Rights. You are entitled to a pension in conformity with the conditions contained in the Pension Regulations of the Stichting Philips Pensioenfonds (Annex F.), subject to the following deviations: • in your case (from a pension build up point of view) the pensionable age is 60, with the conditions being adjusted accordingly. As members of the Board of Management may remain in employment up to the age of 62, they will postpone their claim on payment of pensions to the age of 62, as provided for in the Pension Regulations of the Stichting Philips Pensioenfonds. During the period of postponement the pension level at age 60 will be increased according to the actuarial assumptions of the Pension Fund and the indexation policy of the Pension Fund; • the gross basis is your annual gross salary per 1 April of each calendar year, as mentioned under clause 3. hereof. The 10% increase in the gross basis and eventual allowances as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds do not apply to members of the Board of Management; • the pension basis is found by deducting from the gross basis such part of the members’ income as is deemed per 1 April to be covered by statutory pension provisions, the so-called franchise; • with reference to the supplementary pension arrangement laid down in our letter of 22 November 1999, for you the pension basis as laid down in article 3. of the Pension Regulations of the Stichting Philips Pensioenfonds is your annual gross salary increased by 10%.
Pension Rights. As from the Commencement Date, you shall be included in the Pension Regulations of “
