Retirement Payments. 365. The SFERS shall process and pay retirement claims in the following manner: BENEFIT PROCESSING TIME Initial monthly 60 days maximum retirement allowance 90% within 60 days Withdrawal of 6 weeks maximum contributions 85% paid in 30 days Death benefit 30 days maximum 90% paid within 30 days of filing appropriate papers 366. Represented employees agree to pay their own employee retirement contribution to SFERS. For employees who became members of SFERS prior to November 2, 1976 (Charter Section A8.509 Miscellaneous Plan), the City shall pick up one-half percent (0.5%) of the total employee retirement contribution.
Retirement Payments. No amounts paid pursuant to this Agreement will constitute compensation for any purpose under any retirement plan or other employee benefit plan, program, arrangement or agreement of the Company or any of its affiliates, unless such plan, program, arrangement or agreement specifically so provides.
Retirement Payments. Upon termination of Executive's employment due to Retirement, as provided herein, the Company will pay to the Executive the Net Retirement Benefit described below. Payment shall be made in monthly installments beginning the first day of the calendar month following termination of employment. "Retirement" shall mean the termination of Executive's employment at any time after the date hereof for any reason (other than the Company's termination of the Executive for Cause as defined herein), including termination because of a permanent disability, early retirement or after a Change in Control (as defined herein).
Retirement Payments. A teacher who submits his/her irrevocable retirement letter during the term of this agreement according to the notification requirements above, shall be removed from the salary schedule and shall receive a salary increase in each of his/her four final years of employment from date of retirement notification of six percent (6%) above their prior year’s creditable earnings. In consideration of such salary increases, the teacher shall continue to perform such extra duties, and any additional extra duties performed by the teacher after submission of the retirement notice, as were included in calculating the teacher’s retirement payments unless the Superintendent approves the teacher’s discontinuation of the extra-duty for good cause shown and the teacher’s salary will be reduced accordingly.
Retirement Payments. Exclusive of any other consideration or benefit to Xx. Xxxxxxxxx set forth in this Agreement, in consideration of the agreements made herein and as set forth in Sections 4.3.1 and 4.3.2 of the Employment Agreement, Stage agrees to pay Xx. Xxxxxxxxx the following amounts, in each case less applicable payroll taxes, withholding and other deductions, which may be required to be withheld under any provision of applicable laws, agreements or as otherwise requested by Xx. Xxxxxxxxx:
Retirement Payments. On January 1, 2003, if this Agreement and the Executive's employment hereunder have not been terminated, the Executive shall be eligible to receive retirement payments (the "RETIREMENT PAYMENTS") upon certain terminations of this Agreement and the Executive's employment hereunder occurring on or after the Executive's 60th birthday (the "ELIGIBILITY Date"). On and after the Eligibility Date, if this Agreement and the Executive's employment hereunder are terminated pursuant to paragraphs 7(a)(i), 7(a)(ii)(C) or 7(a)(iv) (the "EMPLOYMENT TERMINATION DATE"), the Company shall pay the Retirement Payments to the Executive during each 12 month period after the Employment Termination Date until the 7th anniversary thereof. The Retirement Payments shall be in the following amounts: (A) for each 12 month period after the Employment Termination Date and ending on the 4th anniversary thereof, 50% of the Executive's base salary in effect immediately prior to the Employment Termination Date (the "BASE Rate"); and (B) for each 12 month period after the 4th anniversary of the Employment Termination Date and ending on the 7th anniversary thereof, 25% of the Base Rate. All such Retirement Payments shall be paid to the Executive in appropriate installments in accordance with the Company's usual and customary payroll practices for executive officers. The provisions of this paragraph 2(d) shall survive the termination of this Agreement pursuant to paragraphs 7(a)(i), 7(a)(ii)(C) or 7(a)(iv) hereof.
Retirement Payments. The Company agrees to pay the Executive a lump sum payment of $130,000.00 on the Effective Waiver Date and eighteen (18) monthly payments of $21,666.67 commencing on the date six months and two days following the Effective Waiver Date. In the event of a Change of Control (as defined herein this Agreement), the Company will within ten (10) days of such Change of Control, pay to Executive any unpaid remaining balance under this Section 2(A).
Retirement Payments. Executive shall be paid a total of seventy-eight (78) weeks (“Retirement Payment Period”) of Executive’s weekly base salary as of the Effective Date plus an additional IC payment equal to one and one half times of Executive’s target percentage of base salary as of the Effective Date (“IC Payment”), which shall be divided into two separate payments and paid as follows: