Common use of Plan 2 Clause in Contracts

Plan 2. In addition to the eligibility requirements set forth above, an employee must meet the following requirements to receive a benefit under Plan 2: 2.4(1) The employee must be 58 years of age or older or must be eligible for pension under the "rule of 90" provisions of the Public Employees Retirement Association (PERA). The "rule of 85" or the "rule of 90" criteria shall also apply to employees covered by a public pension plan other than PERA. 2.4(2) The employee must be voluntarily separated from City employment or have been subject to separation by layoff or compulsory retirement. Those employees who are discharged for cause, misconduct, inefficiency, incompetency, or any other disciplinary reason are not eligible for the City severance pay program. For the purpose of this severance program, a death of an employee shall be considered as separation of employment, and if the employee would have met all of the requirements set forth above, at the time of his or her death, payment of the severance pay will be made to the employee's estate or spouse. For the purpose of this severance program, a transfer from the City of Saint ▇▇▇▇ employment to Independent School District No. 625 employment is not considered a separation of employment, and such transferee shall not be eligible for the City severance program. 2.4(3) The employee must have at least ten (10) years of consecutive service under the classified or unclassified Civil Service at the time of separation. For the purpose of this Article, employment in either the City or in the Independent School District No. 625 may be used in meeting this ten (10) year service requirement. 2.4(4) The employee must file a waiver of reemployment with the Director of Human Resources, which will clearly indicate that by requesting severance pay, the employee waives all claims to reinstatement or reemployment (of any type), with the City or with Independent School District No. 625. 2.4(5) The employee must have accumulated a minimum of sixty (60) days of sick leave credits at the time of his separation from service.

Plan 2. In addition to the eligibility requirements set forth aboveabove in 2.2, an employee must meet the following requirements to receive a benefit under Plan 2: 2.4(1) The employee must be 58 years of age or older or must be eligible for pension under the "“rule of 90" ” provisions of the Public Employees Retirement Association (PERA). The "“rule of 85" ” or the "“rule of 90" ” criteria shall also apply to employees covered by a public pension plan other than PERA. 2.4(2) The employee must be voluntarily separated from City employment or have been subject to separation by layoff or compulsory retirement. Those employees who are discharged for cause, misconduct, inefficiency, incompetency, or any other disciplinary reason are not eligible for the City severance pay program. For the purpose of this severance program, a death of an employee shall be considered as separation of employment, and if the employee would have met all of the requirements set forth above, at the time of his or his/her death, payment of the severance pay will be made to the employee's ’s estate or spouse. For the purpose of this severance program, a transfer from the City of Saint ▇▇▇▇ employment to Independent School District No. 625 employment is not considered a separation of employment, and such transferee shall not be eligible for the City severance program. 2.4(3) The employee must have at least ten (10) years of consecutive service under the classified or unclassified Civil Service at the time of separation. For the purpose of this Article, employment in either the City or in the Independent School District No. 625 may be used in meeting this ten (10) year service requirement. 2.4(4) The employee must file a waiver of reemployment with the Director of Human Resources, which will clearly indicate that by requesting severance pay, the employee waives all claims to reinstatement or reemployment (of any type), with the City or with Independent School District No. 625. 2.4(5) The employee must have accumulated a minimum of sixty (60) days of sick leave credits at the time of his his/her separation from service. 2.4(6) If an employee requests severance pay and if the employee meets the eligibility requirements set forth above, he/she will be granted severance pay in an amount equal to one-half of the daily rate of pay for the position held by the employee on the date of separation for each day of accrued sick leave subject to a maximum of $6,500.