Earlier Retirement definition

Earlier Retirement means the retirement of a PERI Participant from active employment with the Company on or after his Earlier Retirement Date, as defined in the ERP, but prior to his Normal Retirement Date, as defined in the ERP.
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Examples of Earlier Retirement in a sentence

  • Earlier Retirement may be permitted with a reduction in pension benefit by a factor of 7% per year for employees in the Police and Fire Retirement Plan and a reduction in pension benefit by a factor of 5% per year for employees in the Federated Retirement System.

  • Any Member who became a Member on or after January 1, 1983, may elect an Earlier Retirement Date which may be the first day of any month which is not more than ten years prior to the Member's Normal Retirement Date, provided that such Member has completed ten years of Credited Service on the Earlier Retirement Date.

  • Effective January 1, 1988, a Member may elect an Earlier Retirement Date which shall be the first day of any month following the attainment of age 55 and completion of 10 Years of Credited Service.

  • In addition, if the employee has a total number of years of service which when combined with years of age adds up to ninety (9 0) or more, the employee may apply to use the excess credits as Earlier Retirement Leave under the ex Otta wa-Carleton Regional Transit Commission Polic y CP- 4046.

  • The annual retirement benefit, commencing at Earlier Retirement Date to a Member who retires on an Earlier Retirement Date, shall be equal to the Actuarial Equivalent (as set forth in Appendix A) of the Accrued Benefit he would have received commencing at Normal Retirement Date, as computed in accordance with Section 4.1 hereof.

  • Any Member who was such on December 31, 1982, may elect an Earlier Retirement Date which may be the first day of any month not more than ten years prior to his Normal Retirement Date.

  • William Booth, California Sends Joe Camel To an Earlier Retirement, WASH.

  • If the retirement benefit was first payable on an Earlier Retirement Date, the resumed amount shall be the same monthly amount (based upon the Retirement Benefit in effect under Section 4.1(b) as of his prior retirement date but otherwise determined as of the Member's subsequent retirement date), reduced to reflect payments previously received by the Member, plus any additional benefit attributable to Credited Service earned after reemployment.

  • The annual retirement benefit of a Member who retires on an Earlier Retirement Date and who elects to have his benefits commence on his Normal Retirement Date shall be computed in accordance with Section 4.1 based on his Credited Service to the Earlier Retirement Date.

  • The reduced retirement benefit shall be the actuarial equivalent of (i) the Standard Retirement Benefit payable at retirement on his Normal Retirement Date; or (ii) the reduced amount payable at retirement on his Earlier Retirement Date, as the case may be.

Related to Earlier Retirement

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Special Retirement means an Optionee’s termination of employment or service with the Employers and Affiliates on or after the later of (i) the Optionee’s attainment of age 62 and (ii) the Optionee’s Early Retirement Date or Normal Retirement Date, as such terms are defined in the Telephone and Data Systems, Inc. Pension Plan.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Disability retirement for plan 1 members, means the period

  • Normal Retirement means retirement from active employment with the Company or any Subsidiary on or after age 65.

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

  • Normal Retirement Age means the Executive's 65th birthday.

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

  • Retirement Age means the earlier to occur of:

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Severance from Service Date means the earlier of:

  • Public employees retirement system means the retirement plan and program

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).

  • Accrual Termination Date Not applicable.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.