Common use of Voluntary Severance Clause in Contracts

Voluntary Severance. Purchasing past pensionable service. If permissible the Employer will match a minimum of three years' contributions to the Municipal Pension Plan where an employee opts for early retirement.

Voluntary Severance. Purchasing past pensionable service. If permissible the Employer will match a minimum of three (3) years' ’ contributions to the appropriate pension plan (College Pension Plan, Municipal Pension Plan or Public Service Pension Plan) where an employee opts for early retirement. • Early retirement incentives. • Agreed secondment. • Retraining. • Trial retirement. • Continuation of health and welfare benefits. • Combinations and variations of the above or other alternatives.

Voluntary Severance. Purchasing past pensionable service. If permissible the Employer employer will match a minimum of three years' contributions to the appropriate pension plan (College Pension Plan, Municipal Pension Plan or Public Service Pension Plan) where an employee opts for early retirement.