Retirement Incentive Programs Sample Clauses

Retirement Incentive Programs. Faculty members may participate in retirement incentive programs established by the Board of Trustees in compliance with the California Education Code.
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Retirement Incentive Programs. Unit members may choose to participate in one of the following programs:
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Retirement Incentive Programs. In accordance with state law, an employee who is interested in retiring may consider one of three programs offered by the College: (a) Phased Retirement, (b) Retirement Transition, and (c) Early Retirement, and (d) other plan mutually agreed to by the academic employee, Union, and the college. First consideration will be given to retirement incentive applications that are submitted in writing to the College President no later than the fifteenth (15) day of October, each academic year. Applications received later than the fifteenth day of October shall be considered after processing those received by the fifteenth of October. Applications for retirement incentive programs must be for retirements occurring on June 30 of the academic year for which the application is filed. An eligible tenured academic employee who submits a request for a retirement incentive option by the due date shall be notified prior to winter quarter of the status of his/her request. Tenured academic employee application requests will be considered and approved on the basis of seniority and consistent with the terms of the agreement. In the case of exceptional circumstances, management, in consultation with the Union President, may consider other factors. In instances where tenured academic employees who have applied for the retirement incentive option have the same seniority date, and availability of retirement incentive options is limited, management in consultation with the Union President may consider other factors. Early Retirement incentive program requests will be approved up to two per academic year. Any unused early retirement allocations during a year will be accumulated for future use and will not expire. The maximum early retirement incentives that may be awarded in one year are two (2) for the current year and four (4) accumulated early retirement for a total of six (6). By September 15 of each academic year, management shall provide the Union with an accounting of prior year retirement(s) approved and the number of slots available for the year. Any retirement option entered into must be established in writing and agreed to by the employee and the College. Conditions of the agreement will be that the employee exercise an intentional, voluntary and intelligent waiver of his or her rights as a tenured academic employee in exchange for participation in a retirement program option and that the Board of Trustees give written assurances for fulfillment of the retirement contract.
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Retirement Incentive Programs. In accordance with state law, an employee who is interested in retiring may consider one of three programs offered by the College: (a) Phased Retirement, (b) Retirement Transition, and
Sample 1Sample 2
Retirement Incentive Programs. 1 Unit members who choose to retire early may elect to participate in one of the following 2 retirement incentive programs:
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Retirement Incentive Programs. 1. For retirees not participating in the Early Retirement Incentive Program, the District will provide $150 fringe benefits contribution per month until the member reaches age sixty-five (65). A retiree may continue in the District health benefit programs at the retiree’s expense after termination of this program upon insurance carrier approval. This amount will be prorated commensurate to the percentage of full-time employment prior to retirement.
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Related to Retirement Incentive Programs

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement at the beginning of the following school year. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year of the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the year of submission, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the year of submission. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly.

  • EARLY RETIREMENT INCENTIVE PLAN 1. The Board will pay an allowance to continuing contract teachers who retire from teaching in the District under the Teachers' Pension Plan, before reaching age sixty (60), subject to the following conditions: The teacher must:

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Incentive Programs During the Term of Employment, the ------------------ Executive shall be entitled to participate in any annual and long-term incentive programs adopted by the Company and which cover employees in positions comparable to that of the Executive.

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Sick Leave Incentive Program MSUAASF and Minnesota State may develop a sick leave incentive program through the establishment of a joint committee.

  • RETIREMENT INCOME PLAN 18.01 The Nursing Homes and Related Industries Pension Plan In this Article, the terms used shall have the meanings as described:

  • Physician Incentive Plans In the event Provider participates in a physician incentive plan (“PIP”) under the Agreement, Provider agrees that such PIPs must comply with 42 CFR 417.479, 42 CFR 438.3, 42 CFR 422.208, and 42 CFR 422.210, as may be amended from time to time. Neither United nor Provider may make a specific payment directly or indirectly under a PIP to a physician or physician group as an inducement to reduce or limit Medically Necessary services furnished to an individual Covered Person. PIPs must not contain provisions that provide incentives, monetary or otherwise, for the withholding of services that meet the definition of Medical Necessity.

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

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