VOLUNTARY SEPARATION PLAN Sample Clauses

VOLUNTARY SEPARATION PLAN. A. All Certified Staff covered by this Master Agreement who are at least forty-six (46) years of age and who have worked as a Certified Staff in the District for at least fifteen (15) years will be eligible to participate in a voluntary separation benefit plan. Age and benefit shall be calculated as of July 1, 2018 and age 55 shall be reached in the school year prior to separation. The Voluntary Separation Plan will cease to exist beyond fiscal year 2018-19. The Board will retain the power to grant the Certified Staff separation mid-year if all appropriate conditions have been met. Those who are employed less than full-time may participate in the plan on a pro-rata basis. If a Certified Staff is hired for a partial year which would include a minimum of one full semester (consecutive days) they would qualify for a ½ year credited towards their voluntary separation plan.
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VOLUNTARY SEPARATION PLAN. 10.1 Employees, upon written application and support of the Superintendent of Schools, may participate in a voluntary separation program. Beginning on July 1, 2012, this program will no longer be available to employees hired after July 1, 2012. The Voluntary Separation Plan will be phased out of Xxxxxx School District with a 10-year plan beginning Contract Year 2017-18 and ending contract year 2026-27. Any employee currently employed and eligible for the program will remain eligible for the voluntary separation plan under the new conditions.
Sample 1
VOLUNTARY SEPARATION PLAN. 1. Eligibility for Voluntary Separation: Any certified staff member who has reached the age of fifty (50) prior to the first day of school term the voluntary separation takes effect and in which the eligible employee has not reached age sixty-three (63) prior to the first day of the school term the voluntary separation takes effect, may elect voluntary separation provided they have at least fifteen (15) years of full-time service with the Xxxxxx-Xxxxxx School District #11-5 or any other district organized into the Xxxxxx-Xxxxxx School District #11-5. This voluntary separation plan shall not apply to any employee hired after the conclusion of the 2013-2014 school year.
Sample 1
VOLUNTARY SEPARATION PLAN. In the 2006 first quarter, Embarq announced a voluntary separation plan to certain employees in order to meet financial targets. The voluntary separations were not sufficient to reach the targets; therefore, involuntary separations occurred. The charges associated with these reductions were approximately $30 million.
Sample 1
VOLUNTARY SEPARATION PLAN. An employee who elects to accept voluntary separation shall receive as termination allowance three
Sample 1

Related to VOLUNTARY SEPARATION PLAN

  • Termination of 401(k) Plan If requested by Acquiror in writing at least five business days before the Closing Date, the Company shall terminate any and all 401(k) plans sponsored or maintained by the Company or any of its Subsidiaries, and prior to the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of Directors.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Supplemental Executive Retirement Plan The Executive shall participate in the Company's Unfunded Pension Plan for Selected Executives (the "SERP").

  • Voluntary Retirement Notwithstanding anything in this Section 2 to the contrary, the Participant’s Units shall be fully vested if the Participant is eligible to resign from employment with the Company and have that resignation treated as a Voluntary Retirement (as that term is defined in the Xxxxxxx Information Services Corporation Executive Voluntary Retirement Plan, or “EVRP”), provided the Participant satisfies all of the requirements of the EVRP to receive benefits under that plan.

  • Supplemental Benefits The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Voluntary Employee Contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b).

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • SERP Executive is a participant in the BB&T Corporation Non-Qualified Defined Benefit Plan (the “SERP”). The SERP was formerly known as the Branch Banking and Trust Company Supplemental Executive Retirement Plan. The SERP is a non-qualified, unfunded supplemental retirement plan which provides benefits to or on behalf of selected key management employees. The benefits provided under the SERP supplement the retirement and survivor benefits payable from the Pension Plan. Except in the event the employment of Executive is terminated by the Employer or BB&T for Just Cause and except in the event Executive terminates Executive’s employment for any reason other than Good Reason and such termination does not occur within twelve (12) months after a Change of Control (or, if later, within ninety (90) days after a MOE Revocation), the following special provisions shall apply for purposes of this Agreement:

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