Special Early Retirement definition

Special Early Retirement means retirement of a Participant after age 60 but before age 65, provided that the Participant has at least 20 Years of Vesting Service at the time of retirement.
Sample 1Sample 2
Special Early Retirement means retirement under Section 4.02 (b) of the Plan.
Sample 1Sample 2
Special Early Retirement means, for purposes of Article 5, the retirement of a Participant from service with his or her Employer in connection with a Reorganization and pursuant to an opportunity provided by the Committee, at any time after the Participant has at least 15 years of Credited Service, but before the Participant has attained age 65.
Sample 1Sample 2

Examples of Special Early Retirement in a sentence

  • Purchaser reserves the right to deny any of Seller’s employees, agents or subcontractors access to its or its customer’s premises and/or systems for any reason in Purchaser's sole discretion, including but not limited to such individual being a former employee of Purchaser who received layoff benefits or Special Early Retirement Option (SERO) benefits from Purchaser within the prior three years or whose last performance rating as an employee of Purchaser was less than satisfactory.

  • Any change in the Supplementary Pension shall take effect on the same date as the corresponding increase under the GE Pension Plan, GE Excess Benefit Plan or GE Executive Special Early Retirement Option and Plant Closing Retirement Option Plan.

  • Employees who have exercised the Special Early Retirement Option or Plant Closing Pension Option under the Pension Plan shall have the Special Early Retirement Option Offset deducted from any severance or layoff benefit otherwise due under this Article.

  • In 4Q2015, 36 members of staff opted to take the Special Early Retirement Scheme offered by the Bank with departure date being 31 January 2016.

  • A service retiree is an individual who immediately upon leaving active City employment is eligible for and begins receiving a retirement allowance for Age and Service Retirement (Section 1.203), Early Retirement (Section 1.208), or Special Early Retirement (Section 1.209), but does not include an individual receiving a retirement allowance for a Deferred Retirement (Section 1.

  • By accepting benefits pursuant to this Appendix ERW, a Covered Employee is conclusively presumed to have waived irrevocably any and all right to a Special Early Retirement Pension under Section 4.03 or to special early retirement benefits under the PepsiCo Salaried Plan (or any other plan maintained or contributed to by the Corporation or an Associated Company).

  • Effective December 1, 2000, if the benefit payable to a pensioner under the GE Pension Plan, the GE Excess Benefit Plan or the GE Executive Special Early Retirement Option and Plant Closing Retirement Option Plan is increased as a result of paragraph 58 of Section XIV of the GE Pension Plan, the Supplementary Pension payable to the pensioner under this Plan shall be recalculated to take any such increase into account.

  • Any Covered Employee who meets the eligibility requirements of subsection (a) below shall be treated as eligible for a Special Early Retirement Pension under Section 4.03.

  • Effective December 1, 1994, if the benefit payable to a pensioner under the GE Pension Plan, the GE Excess Benefit Plan or the GE Executive Special Early Retirement Option and Plant Closing Retirement Option Plan is increased as a result of paragraph 39 of Section XIV of the GE Pension Plan, the Supplementary Pension payable to the pensioner under this Plan shall be recalculated to take any such increase into account.

  • The Special Early Retirement Pension provided under this section is otherwise subject to all the usual limitations set forth in the DB Program.


More Definitions of Special Early Retirement

Special Early Retirement means Retirement where the Member qualifies for enhanced early retirement benefits as outlined in 8.003 ("Special Early Retirement Eligibility") Section 8.03 and 8.002 ("Early Retirement Pension") Section 8.02;
Sample 1
Special Early Retirement includes the following retirement classes: Class T-C, Class T-D, Class T-E, Class T-F, Class T-H members and Class T-G members. Employees With Less Than 10 Years of District Service as of July 1 2023 • Retirement payment shall be: o $45 per unused sick day for full-time employees o $40 per unused sick day for part-time employees Employees With At Least 10 Years of District Service As of July 1, 2023 • Retirement payment shall be: o Admin/Student Services & Custodial/Maintenance ▪ Full-Time (minimum 1,820 hours per year) • $115/per year of service with the total payment not to exceed $3,450 for full-time; OR • $45 per unused sick day ▪ Part-Time • $75 per year of service with the total payment not to exceed $2,250 for part-time employees who work a minimum of 1,080 hours per year; $45 per year of service with the total payment not to exceed $1,350 for part-time employees who work a minimum of 540 hours per year; OR • $40 per unused sick day o Transportation ▪ $100 per year of service, not to exceed $3,000; OR ▪ $45 per unused sick day for full-time employees; $40 per unused sick day for part-time employees
Sample 1
Special Early Retirement. A Member who had attained age and completed years of Credited Service as of April and who elects to retire on or after April shall be entitled to a pension from the Plan, subject to adjustment under sections and equal to Accrued Retirement Pension as determined at the date of retirement. shall also be entitled to a tempo- rary monthly pension from the Plan payable to Normal Retirement date (or until death of the Member, if earlier), equal to the Member’s Credited Service multiplied by This temporary monthly pension is not subject to adjustment under section Point Retirement A Member who retires from active employ- ment and has attained age and accumulated points (age plus Credited Service) may elect Point Retirement. Upon Point Retirement the Member shall be entitled to a pension from the Plan, subject to adjustment under Section and equal to Accrued Retirement Pension as determined at the date of retire- ment.
Sample 1

Related to Special Early Retirement

  • 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.

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

  • Early Retirement Date means the Retirement, as defined below, of the Executive on a date which occurs prior to the Executive attaining sixty-two (62) years of age, but after the Executive has attained fifty-five (55) years of age.

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

  • 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.

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

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

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

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

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

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

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

  • Disability retirement for plan 1 members, means the period

  • 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 Age means the earlier to occur of:

  • 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.

  • 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: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year 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.

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

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Retirement Benefit means the benefit set forth in Article 5.

  • Supplemental Retirement Plan means (i) the Company’s Amended and Restated Supplemental Executive Retirement Plan, (ii) the Company’s Supplemental Management Retirement Plan, (iii) the Company’s Amended and Restated Top Hat Restoration Plan, and (iv) the Company’s Defined Contribution Restoration Plan.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Retirement means Normal or Early Retirement.

  • Termination Benefit means the benefit set forth in Article 7.