Common use of Retirement Notice Award Clause in Contracts

Retirement Notice Award. Eligible regular employees who give between six (6) and nine (9) months’ advance notice of retirement and are at least age fifty-five (55) with at least twelve (12) years of continuous service will be eligible for a Retirement Notice Award. The Award will be pro-rated for FTE at the employee’s regular rate of pay at the time of retirement. The Award will be paid at the end of the employee’s career with Group Health. If an employee previously received a retirement PTO award before January 1, 2014 (whether or not they actually retired), they are not eligible to receive this Retirement Notice Award. Retirement Notice Award Schedule: • 12 through 19 years of service – 80 hours of pay • 20 or more years of service - 120 hours of pay

Retirement Notice Award. Eligible regular employees who give between six (6) and nine (9) months’ advance notice of retirement and are at least age fifty-five (55) with at least twelve (12) years of continuous service will be eligible for a Retirement Notice Award. The Award will be pro-rated for FTE at the employee’s regular rate of pay at the time of retirement. The Award will be paid at the end of the employee’s career with Group Health. If an employee previously received a retirement PTO award before January 1, 2014 (whether or not they actually retired), they are not eligible to receive this Retirement Notice Award. Retirement Notice Award Schedule: •  12 through 19 years of service – 80 hours of pay •  20 or more years of service - 120 hours of pay