Ordinary Retirement definition

Ordinary Retirement means the retirement of the Optionee on a date upon which, if the Optionee is an employee, the sum of the Optionee’s age and number of years of employment with the Company equals or exceeds eighty-five (85) years or, if the Optionee is a non-employee director, the number of years of Service to the Company exceeds five (5) years.
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Ordinary Retirement means the Optionee’s termination of employment, other than for Cause, death or Disability, following the attainment of the Optionee of at least age sixty, which does not constitute a Special Retirement.
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Ordinary Retirement means the retirement of the Participant on a date upon which, if the Participant is an employee, the sum of the Participant’s age and number of years of employment with the Company equals or exceeds eighty-five (85) years or, if the Participant is a non-employee director, the number of years of Service to the Company exceeds five (5) years. Upon forfeiture, Participant will no longer have any rights relating to the unvested Shares, including the right to vote the Shares and the right to receive dividends, if any, declared on the Shares.
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Examples of Ordinary Retirement in a sentence

  • If the Optionee’s employment with the Company terminates as a result of an Ordinary Retirement (as defined below), then the Optionee (or any individual authorized to act on the Optionee’s behalf) may exercise the Option, to the extent it was exercisable on the date of Optionee’s Ordinary Retirement, for four years following such date.

  • Ordinary Retirement (RO) is a benefit received by affiliates of an AFJP once they retire.5 This benefit is paid in addition to any other from the RPP that the workers have accrued rights for, such as PBU and PC.

  • In addition, the funded regime offers (e) Ordinary Retirement (RO); and (f) survivors’ and disability benefits to those who choose this scheme.

  • The Company will in addition to the Ordinary Retirement Scheme arrange for early retirement benefits covering the period 60 to 65 years of age (enclosure).

  • This requires crucial choices to be made, the fruits of which will create some winners but also many losers.

  • The Parties further agree that Options 5, 6 and 7 shall not be subject to Ordinary Retirement and shall terminate on the close of business on the Retirement Date.

  • Any Survivor's pension received from Social Security and/or Ordinary Retirement Scheme shall reduce the Early Retirement Pension to such an extent that the total resulting pension does not exceed 70 per cent of pensionable earnings up to 50 base amounts.

  • Flexible Retirement: Introduced by Law 35/2002 (effective from 2003), this option allows a beneficiary to combine work income (for both employees and self-employed/autonomous workers) with pension income after satisfying the eligibility requirements for Eligibility Track 1 (Ordinary Retirement) and starting benefits.

  • The Company will annually contribute towards a pension scheme selected and designed by the Employee, "Ordinary Retirement Scheme".

  • Ordinary Retirement (RO) is a benefit received by affiliates of an AFJP once they retire.


More Definitions of Ordinary Retirement

Ordinary Retirement. Ordinary retirement is defined as termination of pastoral responsibility and assignment, officially declared by the Xxxxxx at any time after a priest reaches the full retirement age or normal retirement age as defined by the Social Security Administration (cf. xxxxx://xxx.xxx.xxx/planners/retire/retirechart.html). The actual date of retirement for purposes of this agreement shall be determined by mutual agreement between the Xxxxxx and the retiring priest.
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Ordinary Retirement under the GPUAR means “a retirement of depreciable plant that results from causes reasonably assumed to have been anticipated or contemplated in prior depreciation or amortization provisions.” No debit or credit to income or to retained earnings is permitted for an ordinary retirement. When a retirement is treated as an ordinary retirement and there are no removal costs or salvage value associated with the retirement, the net plant amount in rate base does not change.
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Related to Ordinary Retirement

  • Disability retirement for plan 1 members, means the period

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

  • 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.

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

  • Retirement means Normal or Early Retirement.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.