VOLUNTARY RETIREMENT OPTION. The terms and conditions of this voluntary retirement option apply when there is a lack of work in an occupational classification of an employee with at least 2 years of service.
VOLUNTARY RETIREMENT OPTION. The lump sum paid in connection with the exercise of the Voluntary Retirement Option will be as follows:
VOLUNTARY RETIREMENT OPTION. The following confirms agreement that when an indefinite layoff to the street would occur of an employee with established seniority, a voluntary retirement offer as per the attached will be made to one employee in the occupational classification in which the layoff would occur, on the basis of seniority. If there is no volunteer in that occupational classification, the offer will be made to one employee in the Bargaining Unit on the basis of seniority. The Company will make available up to seven (7) such voluntary retirement offers in each year of this Collective Agreement to a maximum of 21 such options. If in a year all seven (7) options are not utilized, the balance will carry over to subsequent years. This Agreement will be effective on and after the date of ratification and will be in effect for the currency of the 2001-2004 Collective Agreement.
VOLUNTARY RETIREMENT OPTION. The terms and conditions of this voluntary retirement option apply when an indefinite layoff (to the street) would occur of an employee with established seniority.
VOLUNTARY RETIREMENT OPTION. The lump sum paid in connection with the exercise of the Voluntary Retirement Option will be as follows: Employees eligible to retire under Program II will be paid $40,000 or 7 months of regular weekly wages, whichever is greater.
VOLUNTARY RETIREMENT OPTION. This will confirm the agreement between the parties whereby the Company will offer employees a one time opportunity to voluntarily retire under the terms of the Company Pension Plan during the term of the 2004-2007 Collective Agreement, as outlined below:
