Rule of 75 definition

Rule of 75. Formula for Retiree Benefits Eligibility Beginning 19 January 1, 2007
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Rule of 75 means the sum of a Participant’s age and the Participant’s Years of Service, but only if such sum is 75 or greater.
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Rule of 75 means that age plus years of Service Credit equal at least 75.
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Examples of Rule of 75 in a sentence

  • A member with five or more years of earned service credit on deferred status may retire on disability retirement when eligible under the Rule of 75 or when the member attains age 65.

  • You will receive vesting acceleration pursuant to either Standard Retirement or the Rule of 75, but not both.

  • For purposes of these Standard Terms, “Retirement” shall mean either Standard Retirement (as defined below) or the Rule of 75 (as defined below).

  • Program Eligibility• Available to SBC retirees with a service or disability pension or those who left the Company under the Rule of 75 or the Modified Rule of 65• Retiree must reside in the nine state legacy BellSouth local service area and have AT&T local service.• Retiree may only have this plan on their primary residence.

  • Where arrangements cannot be made to implement the Rule of 75 in a department, discussion shall occur between the Union and the Employer as soon as possible.

  • In the event that at the time of the Optionee’s death the Optionee met the Rule of 75, an option transferred by will or the laws of descent and distribution may only be exercised by the legatee or distributee during the period of time that the Optionee could have exercised such options at the time of his or her death and such options shall continue to vest as if the Optionee had not died.

  • A discount on the retiree rate will be granted to retirees that meet the following stipulations: (a) the employee must have completed 10 consecutive years of service with the City of Xxxxxxxx, and (b) the employee must be retired through SDRS or SDRS Disability, and satisfy the following conditions: Class A employees must be age 60 or older, Class B Public Safety employees must be age 50 or over and meet the Rule of 75, and those on SDRS Disability do not have age requirements.

  • Accordingly, under SFAS 123(R), awards made to individuals who meet the Rule of 75 must be expensed on or prior to the grant date.

  • Employees who have been approved for the Rule of 75 must re-apply by December of each year and may only review and revise their participation in December of each year.

  • These awards have special provisions applicable to employees who meet the Rule of 60 or the Rule of 75 at the time of termination of employment.


More Definitions of Rule of 75

Rule of 75 eligibility for Employer’s stock option plans, which will allow Employee to continue to vest and exercise stock options for three (3) years after the Separation Date. In order to be eligible, Employee must sign the “Option Exercise Period Extension Agreement” attached to this Agreement as Exhibit A-1; and
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Rule of 75 means the termination of Participant's employment for any reason other than Cause if the sum of Participant's age and completed years of service with the Firm equals at least 75 on the date of his or her termination of employment.
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Rule of 75 means any termination of Executive’s Continuous Service, other than for Cause, occurring at or after Executive has reached the age of 55 and has a combination of age plus years of Continuous Service as an executive officer of Xxxxxxx equal to or greater than 75.
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Related to Rule of 75

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

  • Qualified disabled veteran means a business entity that is 51% or more owned by one or more veterans with a service- connected disability.

  • Qualified elector means an individual at least 18 years of age who is a citizen of the United States, a permanent resident of this state, and a resident of the district who registers with the supervisor of elections of a county within which the district lands are located when the registration books are open.

  • Disability Date means the date on which a Participant is deemed disabled under the employee benefit plans of the Corporation applicable to the Participant.

  • Qualified individual with a disability means an individual with a disability who satisfies the requisite skill, experience, education and other job-related requirements of the employment position such individual holds or desires, and who, with or without reasonable accommodation, can perform the essential functions of such position.

  • Disability retirement for plan 1 members, means the period

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

  • Average weekly wage means the amount derived by dividing an

  • 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.

  • Qualified employee means an individual who:

  • Qualified Retirement means the Participant’s voluntary termination of Service after reaching age 65 and completing 10 years of service with the Company, its Subsidiaries or predecessors.

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

  • Waiver eligibility span means the twelve-month period following either an individual's initial waiver enrollment date or a subsequent eligibility re- determination date.

  • Termination of Service means:

  • Termination due to Disability means a termination of the Executive’s employment by the Company because the Executive has been incapable, after reasonable accommodation, of substantially fulfilling the positions, duties, responsibilities and obligations set forth in this Agreement because of physical, mental or emotional incapacity resulting from injury, sickness or disease for a period of (A) six (6) consecutive months or (B) an aggregate of nine (9) months (whether or not consecutive) in any twelve (12) month period. Any question as to the existence, extent or potentiality of the Executive’s disability shall be determined by a qualified physician selected by the Company with the consent of the Executive, which consent shall not be unreasonably withheld. The Executive or the Executive’s legal representatives or any adult member of the Executive’s immediate family shall have the right to present to such physician such information and arguments as to the Executive’s disability as he, she or they deem appropriate, including the opinion of the Executive’s personal physician.

  • Eligibility Waiting Period means the continuous length of time you must be in Active Employment in an eligible class to reach your Eligibility Date.

  • Public employees retirement system means the retirement plan and program