Optional retirement program definition

Optional retirement program means a system of retirement benefits established as a part of the plan of compensation for eligible teaching and administrative personnel.
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Optional retirement program means the retirement plan established by the board of regents
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Optional retirement program or “ORP” means an alternative retirement program for certain eligible employees of Texas institutions of higher education.
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Examples of Optional retirement program in a sentence

  • Optional retirement program participants electing to transfer to the state retirement system shall, upon the transfer, forfeit all benefits, rights and privileges attributable to employer-funded assets in the optional retirement program.

  • June 30, 1967.38.385 Optional retirement program; election; time; reelection to retirement system.Sec.

  • Optional retirement program participants electing to transfer to the state retirement system shall, upon the transfer, forfeit all benefits, rights and privileges attributable to employer- funded assets in the optional retirement program.

  • No. 1232 * HR07 / R928 * 05/HR07/R928 PAGE 5 (RF\HS) ST: Optional retirement program; expand investments available to participants to include mutual funds.

  • Optional retirement program employer contributions and interest thereon being held by a university pending an employee's completion of five years of creditable service shall be transferred to the gaining institution if an employee is offered employment by and is transferring to another university within the Arizona Board of Regents System.

  • Arizona State Retirement System, Arizona State Retirement Plan, Corrections Officer Retirement Plan, Public Safety Personnel Retirement System, Elected Officials' Retirement Plan, Retirement plan established for employees of a county, city or town in Arizona, Optional retirement program established by the Arizona Board of, Regents under Arizona Revised Statute, Optional retirement program established by an Arizona community college district.

  • ARTICLE 8-BState University Optional Retirement Program SECTION 391 Optional retirement program established NYsenate.gov news & issues senators & committees bills & laws events about the senate Follow the New York Senate facebook twitter youtube Accessibility Statement Contact the Senate Creative Commons Developers Home Rule Form Policies & Waivers Privacy Policy Terms of Participation Sorry, you need to enable JavaScript to visit this website.

  • Paragraph (b) of subsection (6) of section 121.35, Florida Stat- utes, is amended to read:121.35 Optional retirement program for the State University System.—(6) ADMINISTRATION OF PROGRAM.—(b) After receiving and considering the recommendations of the State Board of Education, the department shall designate no more than five four companies from which contracts may be purchased under the program and shall approve the form and content of the optional retirement program contracts.

  • Optional retirement program" means the retirement plan established by the board of regentsunder Title 19, chapter 21 of this title.(9) "PERS defined benefit plan" means the defined benefit plan as defined in 19-3-108 and generally governed by Title 19, chapter 3, parts 1 through 5, 9 though 12, 15, and 16.

  • ARTICLE 125-ABoard of Higher Education Optional Retirement Program SECTION 6251 Optional retirement program established NYsenate.gov news & issues senators & committees bills & laws events about the senate Follow the New York Senate facebook twitter youtube Accessibility Statement Contact the Senate Creative Commons Developers Home Rule Form Policies & Waivers Privacy Policy Terms of Participation Sorry, you need to enable JavaScript to visit this website.


More Definitions of Optional retirement program

Optional retirement program means the retirement plan established by the state board of regents under K.S.A. 74-4925, and amendments thereto; and
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Optional retirement program means the retirement plan established by the board of regents under chapter 21 of this title.
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Optional retirement program means the programs established pursu-
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Optional retirement program means the Institution’s defined contribution retirement plan established under the Optional Retirement Act of 1967, as set forth in this Plan.
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Related to Optional retirement program

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

  • 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.

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

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

  • Early Retirement means retirement, with consent of the Committee at the time of retirement, from active employment with the Company and any Subsidiary or Parent Corporation of the Company.

  • Retirement means Normal or Early Retirement.