Post-Retirement Adjustment Sample Clauses

Post-Retirement Adjustment. Effective January 1, 2005, the Pension Plan will be amended to provide a post-retirement adjustment on January 1, 2005 and on January 1, 2007. Effective January 1, 2009, the Pension Plan will be amended to provide a post-retirement adjustment on January 1, 2009, January 1, 2011 and January 1, 2013. Participants eligible for these adjustments are those who were eligible for the post-retirement adjustment provided by the collective agreement that expired on April 30, 2004, as well as all active participants who will retire on or after May 1, 2004. The post-retirement adjustment is equal to the amount of the minimum pension of the participant, excluding the bridging benefit, multiplied by 50% of the increase of the Consumer Price Index for the 12-month period ending in October of the preceding year (rounded to the nearest tenth of one per cent), subject to a maximum 5% adjustment. For calculation purposes, the Consumer Price Index means the all-items index (1992=100) published by Statistics Canada. The calculation of the adjustment is prorated based on the number of months since the commencement of pension payments if the commencement occurred in the twelve (12) months preceding the date of the adjustment. The Company agrees to administer the pension plan in accordance with the Xxxxxxxxx arbitration award dated 4/18/89.
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Post-Retirement Adjustment. Effective January 1, 2005, the Pension Plan will be amended to provide a post-retirement adjustment on January 1, 2005 and on January 1, 2007. Effective January 1, 2009, the Pension Plan will be amended to provide a post-retirement adjustment on
Sample 1
Post-Retirement Adjustment. Long Term Agreement of Ten (10) Years The Pension Plan is amended so as to grant annual post retirement adjustments on January 1, 2005, January 1, 2007, January 1, 2009, January 1, 2011 and January 1, 2013 equivalent to 50% of the increase in the Consumer Price Index, up to a maximum adjustment of 5%, for members who retired after July 1, 1984. In the case of a new retiree, the first adjustment is further multiplied by the fraction obtained by dividing by twelve the number of months elapsed between the Retirement Date and the effective date of the first adjustment. Pension Adjustment Formula: The pension adjustment formula is based on the Consumer Price Index for the 12-month period ending in October of the preceding year (rounded to the nearest tenth of one per cent), subject to a maximum 5% adjustment. For calculation purposes, the Consumer Price Index means the all-items index (1981=100) published by Statistics Canada.
Sample 1
Post-Retirement Adjustment. The Pension Plan will be modified to include annual post-retirement adjustment on January 1st of each year, from January 1, 1999 to January 1, 2004, equivalent to 50% of the Consumer Price Index increase, to a maximum increase of 5% for participants retiring after May, 1987.
Sample 1
Post-Retirement Adjustment. (a) The annual amount of Basic Pension being paid to a retired Member who retires pursuant to Section 6 after May 2, 1982 will be increased each year on the anniversary date of his retirement during the period of May 2, 1998 to May 1, 2004.
Sample 1
Post-Retirement Adjustment. Effective January and for the duration of the collective agreement, active members who retired after January will have their basic pension increased on January of each year (last adjustment on January by fifty percent of the increase in the Consumer Price Index, if any, subject to a maximum increase of five percent This increase in the is calculated over the twelve month period ending on October of the preceding year, rounded to the nearest tenth of one percent. The first adjustment for a newly retired participant will be multiplied by the ratio of the number of months between his retirement date and the effective date of the first adjustment (maximum months) divided by twelve JOINT
Sample 1
Post-Retirement Adjustment. An employee (or beneficiary if applicable) shall be entitled to receive the annual post retirement adjustment set forth below, if:
Sample 1
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Related to Post-Retirement Adjustment

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Early Retirement Option The District may offer an early retirement incentive for unit members.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • Re-employment After Retirement Employees who have reached retirement age as prescribed under the Pension (Municipal) Act and continue in the Employer's service, or are re-engaged within three (3) calendar months of retirement, shall continue at their former increment step in the pay rate structure of the classification in which they are employed, and the employee's previous anniversary date shall be maintained. All perquisites earned up to the date of retirement shall be continued or reinstated.

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