Special Unreduced Early Retirement Sample Clauses

Special Unreduced Early Retirement. Participants shall have the option of special unreduced early retirement during the five (5) year period ending September 30, 2019 provided that their age is a minimum of fifty-five (55) plus CONTINUOUS SERVICE equals at least eighty-five (85) when they retire. Effective October 1, 2014, the participant with the most credited service in this group will have first opportunity to retire, and if this offer is not taken, the next most senior eligible participant will have the option. The allowable number of participants to retire per twelve (12) months is three (3). If less than three (3) elect to retire in a given twelve (12) month period, this credit shall be taken into the next year to a maximum of four (4) participants in the subsequent twelve (12) month period. Participants eligible for this special early retirement shall be selected in accordance with their continuous service. If a participant declines the option, he/she shall, in the next twelve (12) month period, be offered the option after the participants who are eligible for the first time. The twelve (12) month period referred to above shall be October 1 to September 30.
Sample 1
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Special Unreduced Early Retirement. Participa nts shall have the option of special un reduced early retirement duri ng the five (5) year period ending September 30, 2019 p rovi ded that their age is a minimum of fifty-five (55) plus CONTINUOUS SE RVICE equals at least eighty-five (85) when they retire. Effecti ve October 1, 20 14, the pa rticipant with the most credited service in this g rou p will have fi rst opportunity to retire, and if this offer is not taken, the next most senior xxxxx ble participant will have the option . The al lowable number of partici pants to reti re per twelve (12) months is three (3). If less than th ree (3) elect to reti re in a given twelve (12) month period, this credit shall be taken into the next yea r to a maxi mum of four (4) pa rticipants in the subseq uent twelve (12) month period . Collective Agreement Canadian Merchant Service Guild - and - Interfor Corporation Ltd. October 1, 2014 - September 30, 2019 Parti cipants eligible for this special early reti rement shall be selected in accordance with their co nti nuous service. If a pa rti cipant decli nes the option, he/she shall, in the next twelve (1 2) month period, be offered the option after the pa rticipants who are eligible for the fi rst time. The twelve (1 2) month period referred to above shall be October 1 to September 30.
Sample 1

Related to Special Unreduced Early Retirement

  • Benefits on Early Retirement The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age 65 and who are in receipt of the Hospital’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Hospital to the billed premiums of active employees.

  • 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.

  • Enhanced Early Retirement 26.11.1 Employees engaged prior to 1 May 1994 are eligible if they are within 10 years of the age of eligibility for government superannuation and have a minimum of ten years' total aggregated service with the employer, with one or more other DHBs, and with one or more of the following services:

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • 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.

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

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

  • 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.

  • 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.

  • 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.

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