Permanent retirement definition

Permanent retirement means you have finished gainful employment and the Trustee is reasonably satisfied that you never again intend to be gainfully employed for ten or more hours a week.
View Source
Permanent retirement means permanent retirement by a Participant from all employment (including, without limitation, self-employment), provided that if a Participant is party to an Employment Agreement that provides a definition of “permanent retirement” that differs from that set forth in the Standard Employment Agreement then, for purposes of the Plan with respect to such Participant, the term “Permanent Retirement” shall have meaning set forth in such agreement.
View Source
Permanent retirement means superannuation or disability under the provisions of the Public School Employees’ Retirement Act.
View Source

Examples of Permanent retirement in a sentence

  • Permanent retirement will be indicated by either a signed application for retirement benefits from the Indiana State Teachers Retirement Fund or a notarized statement offered to the School Employer stating that the requesting teacher plans to not teach elsewhere in public education in Indiana and will apply for retirement benefits from the Indiana State Teachers Retirement Fund at a later date.

  • K) Permanent retirement must be evidenced and application for retirement benefits must have been made by the retiring teacher.

Related to Permanent retirement

  • Disability retirement for plan 1 members, means the period

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

  • Special Retirement means the Termination of Employment of Employee with the Company and all Subsidiaries at or after (i) age 55 or (ii) age 50 and completion of at least 10 years of service with the Company and all Subsidiaries.

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

  • 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: 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.