Retirement in Lieu of Layoff definition

Retirement in Lieu of Layoff. Affected employees who elect service retirement from the Public Employees' Retirement System shall be placed on an appropriate reemployment list (up to 39 months). If they are subsequently subject to reemployment and accepts, in writing, the appropriate vacant position, the District shall maintain the vacancy until the Board of Administration of the Public Employees' Retirement System has properly processed their request for reinstatement from retirement. An employee subject to this section who retired and is eligible for reemployment and who declines an offer of reemployment equal to that from which laid off shall be deemed to be permanently retired. Any election to retire after being placed on a reemployment list shall be retirement in lieu of layoff within the meaning of this section. APPROVAL OF AGREEMENT PROVISIONS AND RELATED LANGUAGE‌ For District Xxxxx Xxxxxxx Date Xxxxx Xxxxx Date Xxx Xxxxxxx Date Xxxx XxXxxxxxxx Date Xxxx Xxxx Date For CSEA Xxxxx Xxxxx Date Xxxxxxxx Xxxxxx Date Xxxxx Xxxxx Date Xxxxxx Xxxxxxxx Date EXHIBIT A‌ List of Classified Positions Updated job descriptions, including job titles and related ranges are publically available via the Merced College Human Resources page. EXHIBIT B‌ Classified Salary Schedules Classified Monthly Salary Schedule 2021-22 4% increase Effective 7/1/21 Range 1 2 3 4 5 6 7 11 2670 2777 2887 3002 3122 3247 3377 12 0000 0000 0000 3122 3247 3377 3511 13 2887 3002 3122 3247 3377 3511 3654 14 3002 3122 3247 3377 3511 3654 3799 15 3122 3247 3377 3511 3654 3799 3951 16 3247 3377 3511 0000 0000 0000 4108 17 3377 3511 3654 3799 3951 4108 4273 18 3511 3654 3799 3951 4108 4273 4444 19 0000 0000 0000 0000 0000 0000 4622 20 3799 3951 4108 4273 4444 4622 4807 21 3951 4108 4273 0000 0000 0000 4998 22 0000 0000 0000 4622 4807 4998 5199 23 4273 4444 4622 4807 4998 5199 5407 24 0000 0000 0000 4998 5199 5407 5623 25 4622 4807 4998 5199 5407 5623 5848 27 4998 5199 5407 5623 5848 6082 6324 28 5199 5407 5623 5848 6082 6324 6576 29 5407 5623 5848 6082 6324 6576 6840 30 5623 5848 6082 6324 6576 6840 7115 31 5848 6082 6324 6576 6840 7115 7400 32 6082 6324 6576 6840 7115 7400 7694 33 6324 6576 6840 7115 7400 7694 8003 34 6576 6840 7115 7400 7694 8003 8321 35 6840 7115 7400 7694 8003 8321 8655 Rev. 7/1/21 Includes 4% increase Special longevity increments: After an employee reaches the maximum of his/her range and no less than 5 years of service, he/she shall be awarded 1% compounded for each additional year of service. Classified...
Sample 1
Retirement in Lieu of Layoff. Affected employees who elect service retirement from the Public Employees' Retirement System shall be placed on an appropriate reemployment list (up to 39 months). If they are subsequently subject to reemployment and accepts, in writing, the appropriate vacant position, the District shall maintain the vacancy until the Board of Administration of the Public Employees' Retirement System has properly processed their request for reinstatement from retirement. An employee subject to this section who retired and is eligible for reemployment and who declines an offer of reemployment equal to that from which laid off shall be deemed to be permanently retired. Any election to retire after being placed on a reemployment list shall be retirement in lieu of layoff within the meaning of this section.
Sample 1

Examples of Retirement in Lieu of Layoff in a sentence

  • Hours or Retirement in Lieu of Layoff All Unit I employees as defined in D.

  • Indeed, too many project proposals for infrastructure are not “really needed” from a development perspective.

  • Layoff and Reemployment 56 Length of Service 56 Layoff Rights 56 Notice of Layoff 56 Bumping Rights 56 Reemployment List 56 Equal Seniority 56 Reemployment Rights 56 Retirement in Lieu of Layoff 57 Notification of Reemployment Openings 57 Unit Employee Notification to Office.

  • Retirement in Lieu of Layoff: Affected employees who elect service retirement from the Public Employees' Retirement System shall be placed on an appropriate reemployment list (up to 39 months).

  • During such non-compensated leave, the College will continue the same health benefits program.(b) Voluntary Retirement in Lieu of Layoff When a layoff unit includes two or more employees and is identified for layoff, a senior member eligible under the provisions of Section 13.5 may take voluntary retirement to avoid the need for layoff of a less senior member.

  • Retirement in Lieu of Layoff ............................................................

Related to Retirement in Lieu of Layoff

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

  • 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.

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

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

  • Retirement means Normal or Early Retirement.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

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

  • Continuing care retirement community means a residential

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Disability retirement for plan 1 members, means the period

  • Mandatory Retirement means termination of employment pursuant to the Company’s mandatory retirement policy.

  • 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.

  • Retirement Age means the earlier to occur of:

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

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

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

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • 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 board or "board" means the retirement system's governing board provided for in 2-15-1010.

  • Child with a disability means a child who, by reason of any of the following, needs special education and related services:

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • 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.

  • Retirement office means the Kentucky Retirement Systems office building in Frankfort;

  • Final average salary means whichever of the following is greater: