Final Retirement definition

Final Retirement is when the employee ceases employment with the Cooperative after having returned to work for the Cooperative as a "KPERS Retiree". Upon retirement from the Cooperative and KPERS, eligible employees who have chosen the Phase Out Option described below have agreed to reduce their total benefit under the Phase Out Option by the portion of the vested amount in their Employer Paid Account equal to the amount that would have been in their account had they invested in the Moderate Investment track at the end of the day on June 30 of the school year during which they retire.
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Examples of Final Retirement in a sentence

  • If the True-Up Amount is a negative number with respect to any TimkenSteel Spinoff DB Plan, TimkenSteel will cause each such TimkenSteel Spinoff DB Plan to transfer to the corresponding Split DB Plan an amount, in cash or in kind, by which the amounts described in clause (ii) in the preceding sentence exceed the Final Retirement Plan Transfer Amount.

  • Within 120 days after the Plan Split Date, Timken will cause each Split DB Plan to transfer to the corresponding TimkenSteel Spinoff DB Plan an amount in cash or in kind equal to (i) the Final Retirement Plan Transfer Amount, minus (ii) any amounts previously transferred from such Split DB Plan (A) directly to the corresponding TimkenSteel Spinoff DB Plan or (B) to a Third Party on behalf of the corresponding TimkenSteel Spinoff DB Plan (such amount, the “True-Up Amount”).

  • The calculations of the Estimated Retirement Plan Transfer Amount and the Final Retirement Plan Transfer Amount described above shall be determined without regard to the value of retiree health benefit Liabilities that are funded in whole or in part through the account maintained under the Duke Energy Retirement Plan pursuant to Section 401(h) of the Code.

  • If the True-Up Amount is a negative number with respect to any Manitowoc Foodservice Spinoff DB Plan, Manitowoc Foodservice will cause each such Manitowoc Foodservice Spinoff DB Plan to transfer back to the corresponding Split DB Plan an amount, in cash or in kind, by which the amounts described in clause (ii) in the preceding sentence exceed the Final Retirement Plan Transfer Amount.

  • The earlier of (a) June 15, 2077, (b) the latest date to which the term of the Contract may extend under the Act (as the Act may be amended from time to time to increase the permissible period for which the term of a contract under the Act may extend) or (c) the Final Retirement Date of the Project Component that results in the Final Retirement Date having occurred with respect to all of the Project Components.

  • In order to perform such verification, upon request from Spectra Energy, the Spectra Energy Actuary will receive the data and additional detailed methodology used to calculate the Initial Transfer Amount and the Final Retirement Plan Transfer Amount (if reasonably needed) from the Duke Energy Actuary.

  • The obligations of the Sponsor under Section 8.01 shall survive the Final Retirement Date with respect to all matters described in Section 8.01 that occur or arise prior to a Transfer or arise out of or result from facts, events, claims, liabilities, or conditions occurring, arising, or existing on or before the Final Retirement Date.

  • Except as otherwise expressly provided in this Sale and Auction Agreement, the obligations of the Transferor and the Sponsor hereunder shall terminate on the Final Retirement Date.

  • However, the obligations of the parties under Sections 8.01, 8.02 and 9.02 of this Sale and Auction Agreement shall survive the Final Retirement Date.

  • After the Final Retirement Date, the Consultant agrees to consult with the Company on major construction projects ("Services").