University Retirement. 258 University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 or older with 15 years of service, or 2) at any age with 25 years of service. Interruptions in employment of less than one (1) year duration shall not constitute a break in service as it pertains to retirement. -259 Employees meeting the minimum retirement requirements will remain eligible to maintain group health care and dental plan coverage and receive the Employer contribution. Employees participating in the Employee-Paid Life Plan at the time of retirement or terminating at age 65 or thereafter and who were enrolled prior to July 1, 1977, shall receive a $2,000 life benefit fully paid by the Employer. -260 An employee who retires under the definition in Paragraph 258 shall be paid for fifty (50) percent of his/her unused sick leave, but not to exceed a maximum of fifty (50%) percent of twelve hundred (1200) hours, as of the effective date of separation. -261 An employee who does not meet the definition of University Retirement in Paragraph 258 but has at least five (5) years, but less than ten (10) years of continuous service and has attained 65 years of age at the time of their separation shall be paid fifty (50%) percent of their unused sick leave as of the effective date of separation. An employee who does not meet the definition of University Retirement in Paragraph 258 but has at least ten (10) years of continuous service and has attained 65 years of age at the time of their separation shall be paid one hundred (100%) percent of their unused sick leave as of the effective date of separation but not to exceed a maximum of one hundred (100) days, unless he/she has received a University contribution to TIAA-CREF and was employed after 1-1-73 in which case the employee shall be paid as in Paragraph 260. -262 Prorated longevity payments shall be made to those employees who retire under the definition of University Retirement in Paragraph 258 prior to October first of any year. This also applies to those employees not under the definition of University Retirement in Paragraph 258 but who are 65 years of age at the time of their separation. Such prorated payments as indicated above shall be based on the number of calendar months of full-time service credited to an employee from the preceding October first to the date of retirement or separation and shall be made as soon as practicable thereafter.
University Retirement. 218 - University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 or older with 15 years of employment, or 2) at any age with 25 years of employment. Interruptions in employment of less than one (1) year's duration shall not constitute a break in service as it pertains to retirement. An employee returning after twelve (12) months of her/his termination from University employment shall, after five (5) additional years of employment, receive credit for all past seniority for the purpose of retirement only. With proper documentation, reemployed employees, after five (5) years of service, will be granted credit for all past seniority upon application to the Office of Human Resource Services.
University Retirement. 186 University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 with 15 years of employment, or 2) at any age with 25 years of employment. Interruptions in employment of less than one (1) year's duration shall not constitute a break in service as it pertains to retirement. -187 Employees participating in the Employee-Paid Life Plan at the time of retirement and who were enrolled prior to July 1, 1976, shall receive a $2,000 life insurance benefit fully paid by the Employer. -188 An employee who retires under the definition in paragraph 186 shall be paid for fifty (50) percent of his/her unused sick leave, but not to exceed a maximum of twelve hundred (1200) hours as of the effective date of separation. -189 An employee who does not meet the definition of University Retirement in paragraph 186 but has at least five (5) years, but less than ten (10) years of continuous service and has attained 65 years of age at the time of his/her separation shall be paid fifty (50) percent of his/her unused sick leave as of the effective date of separation. An employee who does not meet the definition of University Retirement in paragraph 186 but has at least ten (10) years of continuous service and has attained 65 years of age at the time of his/her separation shall be paid one hundred (100) percent of his/her unused sick leave as of the effective date of separation but not to exceed a maximum of one hundred (100) days.
University Retirement. 195 University Retirement Defined - University retirement shall be defined as 1) attainment of age 62 with 15 years of employment, or 2) at any age with 25 years of employment. Interruptions in employment of less than one (1) year's duration shall not constitute a break in service as it pertains to retirement. An employee returning after twelve (12) months of her/his termination from University employment shall, after five (5) additional years of employment, receive credit for all past seniority for the purpose of retirement only. With proper documentation, reemployed employees, after five
