Hybrid retirement plan definition

Hybrid retirement plan means a retirement plan
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Hybrid retirement plan means the plan established pursuant to
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Examples of Hybrid retirement plan in a sentence

  • For full time employees hired after January 1, 2014 are designated as participating in the VRS Hybrid retirement plan, Employees participating in this plan have the same vesting and retirement age as those participating in Plan 2.

  • Completion of this application is required for the Connecticut State Employee Retirement System (SERS) Hybrid Plan members who: (1) have contributed to SERS as a member of the Hybrid retirement plan, (2) do not meet the service requirements for vested rights retirement under SERS Hybrid plan provisions, and (3) have terminated their state employment.

  • I hereby seek to apply for a refund of all contributions I have paid into the SERS Hybrid retirement plan.

  • Effective May 1, 2009 all newly hired employees shall be place into a MERS Hybrid retirement plan.

  • Under SERS Hybrid retirement plan provisions, members who have completed at least ten (10) years of vesting service are eligible for a vested rights retirement benefit.

  • Virginia Local Disability Program The Virginia Local Disability Program (VLDP) provides eligible local government employees who are members of the Hybrid retirement plan with sick, family and personal leave and short-term and long- term disability benefits for non-work-related and work-related illnesses and injuries.

  • If no choice is made, the retirement default is the VRS Hybrid retirement plan.

  • H.B. No. 1437 1 (4) "Hybrid retirement plan" means a retirement plan 2 that combines elements of a defined benefit plan, a defined 3 contribution plan, or an individual retirement savings account 4 established under this chapter.

  • Eligibility for long term disability benefits under the County’s LTD coverage or under the LTD coverage available to VRS Hybrid retirement plan members is determined according to the terms of those plans.

  • The University’s expenses also include the amount assessed by the Commonwealth for the employer’s required contributions to the defined contribution component of the Hybrid retirement plan.

Related to Hybrid retirement plan

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in value in the aggregate as are payable thereunder prior to a Change in Control.

  • 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 Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Disability retirement for plan 1 members, means the period

  • Public employees retirement system means the retirement plan and program

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • 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.

  • 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.

  • Continuing care retirement community means a residential

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

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

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

  • 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.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Supplemental Retirement Income Benefit means an annual amount (before taking into account federal and state income taxes), payable in monthly installments throughout the Payout Period. Such benefit is projected pursuant to the Agreement for the purpose of determining the Contributions to be made to the Retirement Income Trust Fund (or Phantom Contributions to be recorded in the Accrued Benefit Account). The annual Contributions and Phantom Contributions have been actuarially determined, using the assumptions set forth in Exhibit A, in order to fund for the projected Supplemental Retirement Income Benefit. The Supplemental Retirement Income Benefit for which Contributions (or Phantom Contributions) are being made (or recorded) is set forth in Exhibit A.

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

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

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • 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.

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

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

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

  • Health benefits plan means a benefits plan which pays or

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