Examples of Retirement Bonus in a sentence
Eligible employees electing this option will be designated by their seniority for a Special Retirement Bonus.
Several factors are used to calculate the payment to you and include:• Your account balance over the 12-months period preceding your account opening date.• The investment option/s you were invested in during that period.• Any investment option switches you made during that period and the amount/s involved.• legalsuper’s tax position during this time.You can obtain a quote for the Retirement Bonus amount applicable to you at any time using the functionality available in MemberAccess.
These accounts are not eligible as they are not tax-free accounts.• You have not previously received a Retirement Bonus.
If you have received the Bonus payment, then closed and re-opened a second Pension account, you will not receive another payment.How and when will you receive the Retirement Bonus?The Retirement Bonus will be paid to you the same day that you open a Pension account.
The Retirement Bonus is a bonus payment that you could be eligible to receive when you transfer or move your investment balance from a legalsuper Superannuation account (accumulation phase) to a legalsuper Pension account (retirement phase).The Retirement Bonus represents a tax saving.
You do not need to apply for the Bonus; it will be calculated and paid to you automatically.The Retirement Bonus amount will be listed in your account online as well as in any periodical member statements you receive after your account is opened.How much Retirement Bonus will you receive?The Retirement Bonus is based on your individual circumstances, so every eligible member will receive a different amount.
A termination under this option will be effective and the Special Retirement Bonus will be paid when a job in the particular job classification to which the eligible employee is assigned is directly eliminated by the previously announced transfer of work, the discontinuance of a discrete, unreplaced product line, introduction of a robot, or introduction of an automated manufacturing machine, which directly results in a net reduction in the total number of employees working in that same job classification.
An hourly rated or nonexempt salaried employee who is age sixty (60) or older with fifteen (15) or more years of continuous service and is assigned to a job classification which the Company has announced is expected to be directly adversely affected by a transfer of work, the discontinuance of a discrete, unreplaced product line, the introduction of a robot, or the introduction of an automated manufacturing or office machine may elect to be considered for termination with a Special Retirement Bonus.
Requested By: April 1(for fall start) November1 (for January start) Decision By: April 15 November 15 Retirement Bonus requests February 1 for following contract year February 15-District Notification of acceptance/denial Special Grant Fund September 15 for Fall - March 1 for Spring Elementary After School Activities Fund September 10 for Fall – January 15 for Spring Education Travel Credit Request Once request is received, a decision will be made within ten (10) working days of receipt of request.
An employee who is age sixty (60) or older with fifteen (15) or more years of continuous service and is assigned to a job classification which the Company has announced is expected to be directly adversely affected by a transfer of work, the discontinuance of a discrete, unreplaced product line, the introduction of a robot, or the introduction of an automated manufacturing machine may elect to be considered for termination with a Special Retirement Bonus.