Transition Types Sample Clauses

Transition Types. ‌ 38.1.1 The transition period to phase into full retirement shall consist of one of the following types: a) Phased Pre-Retirement Transition Definition: employee continues to contribute to the Local Authorities Pension Plan during the transition period Criteria: i) An employee can reduce their hours of work to a minimum of 17.5 hours per week. ii) General overview of hours of work and/or phased reduction in hours of work over the transition period must be included in the retirement plan as outlined in Article 38.2. iii) Subject to the provisions of the Local Authorities Pension Plan, the phased pre-retirement transition period can be considered as pensionable service under the Plan and, if so, the employer and the employee shall make the appropriate contributions calculated on the basis of the unreduced salary rate. iv) During the period of reduced hours of work, the full employer’s share of required premium contributions will continue for the benefits plans (Extended Health, Dental, Health Spending Account, EFAP) for benefit- eligible positions as if the employee were on full pay.