TIER 1 member definition

TIER 1 member means a current, active member employed by a PERA affiliate on June 30, 2013, an inactive member with employee contributionson account on June 30, 2013 (i.e. terminated employment, but did not refund), and a retired member on June 30, 2013.

TIER 1 member means any operator of a tier 1 facility, as defined in K.S.A. 66-1802 and amendments thereto, or any operator of a tier 2 facility, as defined in K.S.A. 66- 1802 and amendments thereto, that elects to be a tier 1 member of the notification center pursuant to K.A.R. 82-14-3.

TIER 1 member means a Full Sustaining Member.

Examples of TIER 1 member in a sentence

• Years of Service Credit x Pension Factor(s) x Final Average Salary = Base Monthly BenefitExample: for a TIER 1 member retiring with 25 years of service credit under State General Member Coverage Plan 3 with a final average monthly salary of $3,500.

• If you worked for the same employer under the same plan, the pension factor is the factor of that plan.For example, as a TIER 1 member you worked under State General Member Plan 3 (3 percent pension factor) and later worked for an employer covered by Municipal Gen- eral Member Plan 4 (3 percent pension factor), all of your service credit would be calculated at 3 percent.

• Finally, it provides an overview of the early-age reductions to the standard annuity that may apply to a TIER 1 member, depending on age and years of service credit at retirement.

• Normal-Age Retirement AnnuityAs a TIER 1 member, you will have your monthly annuity calculated using the average of your highest three annual salaries (based on creditable compensation) and according to the standard annuity benefit formula in effect when you retire.

• As a TIER 1 member, you should select the “Retirement Estimateto www.trs.state.tx.us and click on “Calculators” under “Resources” on the TRSRetirement annuity calculators are available on the TRS website to assist you.

• This section describes the age and service requirements that a TIER 1 member must meet to be eligible for normal-age or early-age service retirement, as well as for the Partial Lump Sum Option (PLSO).

• This section also describes the standard annuity calculation for a TIER 1 member, using the final average salary that applies to TIER 1.

More Definitions of TIER 1 member

TIER 1 member means a current, active member employed by a PERA affiliate on June 30, 2013, an inactive member with employee contributions

TIER 1 member means a member of the System with a date of membership prior to July 1, 1973, whose benefits are determined pursuant to the provisions of Article 11 of the Education Law.

TIER 1 member means an individual or entity in possession of a Tier 1 Membership. “MLS” means Major League Soccer.

TIER 1 member means: (A) any member hired into a position of employment with the City before July 1, 2013; and (B) any member hired into a position of employment with the City on or after between July 1, 2013 and December 31, 2016 who prior to July 1, 2011 participated in the Arizona State Retirement System established pursuant to Title 38, Chapter 5, Articles 1, 2 and 2.1 of the Arizona Revised Statutes ("ASRS"), and is either an active member or an inactive member of the ASRS as defined by Title 38, Chapter 5, Article 2, Section 38-711 of the Arizona Revised Statutes at the time of hire by the City. Additionally, if a member is hired into a position of employment with the City on or after July 1, 2013, but was previously employed with the City prior to July 1, 2013, and the member is not eligible to be a Tier 1 Member under the terms of the preceding sentence, the member shall be a Tier 1 Member only if the member did not withdraw his or her accumulated contributions from the retirement plan as provided for in Section 26 prior to his or her most recent date of hire with the City.

TIER 1 member means any operator of a tier 1 facility, as defined in K.S.A. 66-1802 and amend- ments thereto, or any operator of a tier 2 facility, as defined in K.S.A. 66-1802 and amendments there- to, that elects to be a tier 1 member of the notifica- tion center pursuant to K.A.R. 82-14-3.

TIER 1 member means any operator of a tier 1 facility, as defined