Voluntary Early Retirement Program Sample Clauses

Voluntary Early Retirement Program. (“VERP”) – A certified employee who, at the date of retirement, (a) has a minimum of ten (10) years of creditable service with the District; (b) is at least 55 years of age; (c) has sufficient creditable service with the Illinois Teacher’s Retirement System (TRS) to retire with a full non-discounted, non-ERO pension; (d) can demonstrate, before participation, that the District will incur no TRS penalties or one-time non-refundable contributions; and (e) meets the participation deadlines set forth below, will be eligible to participate in the District’s Voluntary Early Retirement Program (“VERP”) as set forth below. Options:
Sample 1
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Voluntary Early Retirement Program. The Voluntary Early Retirement Plan shall terminate as of June 30, 2013.
Sample 1
Voluntary Early Retirement Program. (“VERP”) – A certified employee who, at the date of retirement, (a) has a minimum of ten (10) years of creditable service with the District; (b) is at least 55 years of age; (c) has sufficient creditable service with the Illinois Teachers’ Retirement System (TRS) to retire; (c) can demonstrate, before participation, that the District will incur no TRS penalties or one-time non-refundable contributions; and (d) meets the participation deadlines set forth below, will be eligible to participate in the District’s Voluntary Early Retirement Program (“VERP”) as set forth below:
Sample 1
Voluntary Early Retirement Program. “VERP”) – VERP benefits are available to all educational support personnel (full and part-time). An employee who, at the date of retirement, (a) has a minimum of ten (10) years of service with the District; (b) is at least 55 years of age; (c) meets the participation deadlines set forth below; and (d) holds a position other than that of a bus driver, will be eligible to participate in the District’s Voluntary Early Retirement Program (“VERP”) as set forth below.
Sample 1

Related to Voluntary Early Retirement Program

  • 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 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.

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

  • 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.

  • 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.

  • 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 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.

  • Retirement Program Any employee employed prior to October 1, 1977, working at least seventy (70) hours per month shall by law be a member of the Washington Public Employees Retirement system (PERS) Plan One. Any employee working at least seventy (70) hours per month, entering employment on or after October 1, 1977, shall by law be a member of the School Employees Retirement System, Plan Two or Three. The District shall provide each new employee information concerning PERS or SERS membership benefits.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

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