Retirement Incentive definition

Retirement Incentive shall include:
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Retirement Incentive or Section 406.2 "Longevity Incentive" shown below, provided he/she is eligible, but not both.
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Retirement Incentive means any financial incentive that facilitates early retirement.
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Examples of Retirement Incentive in a sentence

  • The employee retirement contribution rate shall return to six percent (6%) in accordance with the Early Retirement Incentive Program (ERIP) agreement dated October 26, 2009 and LAAC Section 4.1033, which provides that this seven percent (7%) employee retirement contribution will continue until June 30, 2026 or until the ERIP cost obligation is fully paid, whichever comes first.

  • Any employee who is employed in a classification covered by the Correctional Employees Retirement Plan (M.S. §§352.91 and 352.911) shall be eligible to retire under one of the following Corrections Early Retirement Incentive programs if the conditions for eligibility as set forth in Section 3C4b below are met.

  • The Committee will have access to all relevant information available to the Trust to determine the cost savings experienced by the LTD Plan as a result of the Early Retirement Incentive Provisions.

  • Executive Order 7J suspends the two-year limitation for TWRs and the public acts that prevent the rehiring of individuals who retired under Retirement Incentive Programs.

  • Also published are an Annual Fiscal Year Budget Summary; Report on the Liabilities of the State Employees’ Group Insurance Program; and Report of the Cost and Savings of the State Employees’ Early Retirement Incentive Program.

  • The College will have the discretion to participate in a Voluntary Separation Incentive Program or a Voluntary Retirement Incentive Program, if such programs are provided for in the operating budget.

  • Retiring per terms of the 2016-2017 Early Retirement Incentive Plan.

  • However, the monthly Employer-paid portion of the medical/dental premium shall not increase by more than fifty dollars ($50) above the monthly amount paid by the Employer at the time of their retirement in the pay period the employee is receiving the Corrections Early Retirement Incentive.

  • The Waiver Option is not available to members who retired early or under the Retirement Incentive Programs (RIPs).

  • This Early Retirement Incentive will apply to supervisors who occupy certain positions in the Department of Corrections.


More Definitions of Retirement Incentive

Retirement Incentive. Employees who give a written notice of intent to retire to the City Manager, effective no later than December 31, 2009 shall be entitled to a $7,500 retirement bonus.
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Retirement Incentive. A member is eligible for $600.00 per year of for each year of full time service for those that retire from the District in their first year of retirement eligibility without penalty in accordance with criteria established by the NYS Employees Retirement System. Member must have 10 years of full time service in the district at the time of retirement and must terminate his or her employment not later than July 1 following the date for which the member becomes eligible without penalty. Member must submit an irrevocable letter of resignation for retirement by February 15 of the previous school year. Those members who are past their first year of eligibility for retirement without penalty can take advantage of this provision only in the first year of the new contract and must retire by July 1, 2014. Member must submit an irrevocable letter of resignation for retirement by December 15, 2013. Members age 50 and over must certify eligibility status each year of the contract at the start of the school year. New hires, after July 1, 2013, cash value for sick bank will be calculated at $125 a day.
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Retirement Incentive. Employees who are eligible to retire under X.X. x. 32, upon retirement, shall receive a severance payment of $5,000 if they have given the Town at least four (4) months’ notice of their retirement date. In the event that the Commonwealth of Massachusetts offers and early retirement incentive, employees who retire with at least four months’ notice shall receive a severance payment of $1,000. The Parties agreed to participate in a compensation study, which funding was approved for at Annual Town Meeting in May 2015. Such compensation information will serve as an evaluation tool for establishing mutually agreed future compensation for the AEA bargaining unit that began on July 1, 2016, FY17. Parties agreed to re-open the contract at the conclusion of the compensation review to discuss study results. Effective July 1, 2016 The parties agree to add a step of five (5%) percent to the base wage for employees who have served 20 years of full time service with the Town of Canton. On January 23, 2017 (FY17) the Town and AEA mutually agreed to the following:
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Related to Retirement Incentive

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Salaried Employee means an employee who is not covered by the Fair Labor Standards Act who regularly receives each pay period a predetermined amount constituting all or part of compensation. This base salary cannot be reduced because of variations in the quality or quantity of work performed.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 12 of the Plan.

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Health Benefits means health maintenance organization, insured or self-funded medical, dental, vision, prescription drug and behavioral health benefits.

  • Covered Employment means employment in a covered position.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.