Vacation - Retirement Sample Clauses

Vacation - Retirement. For a custodian or custodian-bus driver with five (5) or more years of continuous experience but less than six (6) years and who plans to retire, the third week of vacation shall be granted to him/her at the conclusion of his/her final year of employment.
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Vacation - Retirement. Employees aged fifty (50) and over, who are thus fifteen (15) years or less the normal retirement age of may bank one week each fiscal year toward a vacation (with the Supervisor's approval). Used in conjunction with vacation carry-over (Article vacation entitlement could be used as follows: three weeks vacation four weeks vacation five weeks vacation six weeks vacation must take two; may carry-over or bank one must take three; may carry-over or bank one must take three; may carry-over two or carry-over one and bank one must take four; may carry-over two or carry-over one and bank one Once banked, vacation credits are held until they are taken immediately before the normal retirement date. Should an employee terminate earlier for any reason, banked vacation would be paid in a lump sum. Service for the purpose of vacation entitlement shall not accrue when an employee is on an unpaid absence (including Long Term Disability) for a period exceeding one (1) year. Vacation entitlement during the one (1) year period shall be taken as per the Letter of Intent Re: Annual Vacation, or paid out at the end of the one year absence.
Sample 1
Vacation - Retirement. Employees aged (50) and over, who are thus fifteen (15) years or less from the normal retirement age of may bank one week each fiscal year toward a vacation (with the Supervisor's approval). Used in conjunction with vacation (Article vacation entitlement could be used as follows: three weeks vacation four weeks vacation five weeks vacation six weeks vacation must take two; may or bank one must take three; may or bank one must take three; may two or one and bank one must take four; may two or one and bank one Once banked, vacation credits are held until they are taken immediately before the normal retirement date. Should an employee terminate earlier for any reason, banked vacation would be paid in a lump sum. Service for the purpose of vacation entitlement shall not accrue when an employee is on an unpaid absence (including Long Term Disability) for a period exceeding one (1) year. Vacation entitlement during the one (1) year period shall be taken as per the Letter of Intent Re: Annual Vacation.
Sample 1

Related to Vacation - Retirement

  • Vacation Leave on Retirement ‌ An employee scheduled to retire and to receive pension benefits under the Public Service Pension Plan Rules or who has reached the mandatory retiring age, shall be granted full vacation entitlement for the final calendar year of service.

  • Vacation Pay on Retirement Termination is as follows:

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • 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.

  • 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.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Post-Retirement Employment Unit members who retire from the University during the term of this Agreement may propose a post-retirement appointment of up to three years duration. During this post-retirement appointment, the total of retirement benefits and post-retirement salary paid by the University shall not exceed the salary paid at the time of retirement. The annual compensation received from the University for the post-retirement appointment shall not exceed fifty (50) percent of the annual salary at the time of retirement. The duties for a post-retirement appointment shall be defined and agreed to in writing by the bargaining unit member and the Employer/University Administration prior to the bargaining unit member's retirement. Such appointments are at the discretion of the Employer/University Administration and are subject to existing law and all rules and regulations of the State Retirement Board. The decision of the Employer/University Administration not to approve a proposal for a post-retirement appointment shall not be grievable under the Grievance and Arbitration Procedure, Article 7.

  • RETIREMENT PICK-UP 257. For the term of this Agreement, the CITY shall pick up the full amount of the employees’ contribution to retirement.

  • Retirement Date If the Executive remains in the continuous employ of the Bank, the Executive shall retire from active employment with the Bank on the Executive’s sixty-fifth (65th) birthday, unless by action of the Board of Directors this period of active employment shall be shortened or extended.

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

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