Twenty year retirement program definition

Twenty year retirement program means all the terms and 11 conditions of this section. 12 3. "Starting date of the twenty year retirement program" shall mean 13 the effective date of this section, as such date is certified pursuant 14 to section forty-one of the legislative law. 15 4. "Participant in the twenty year retirement program" shall mean a~ 16 investigator member who, under the applicable provisions of subdivisi.on 17 b of this section, is entitled to the rights, benefits and privileges 18 and is subject to the obligations of the twenty year retirement progra~_ 19 as applicable to him or her. 20 5. "Discontinued member" shall mean a participant in the twenty year 21 retirement program who, while he or she was an investigator membe~ 22 discontinued service as such a member and has a right to a deferred 23 vested benefit under the provisions of subdivision d of this section. 24 b. Participation in twenty year retirement program. 1. Subject to the 25 provisions of paragraph five of this subdivision, any person who is an 26 investigator member on the starting date of the twenty year retirement 27 program may elect to become a participant in the twenty year retirement 28 program by filing, within one hundred eighty days after the starting 29 date of the twenty year retirement program, a duly executed application 30 for such participation with the retirement program of which such person 31 is a member, provided he or she is such an investigator member on the 32 date such aPRlication is filed. 33 2. Subject to the provisions of paragraph five of this subdivision L 34 any person who becomes an investigator member after the starting date of 35 the twenty year retirement program may elect to become a participant in 36 the twenty year retirement program by filing,---within one hundred eighty 37 days after becoming such an investigator member, a duly executed appli-~ 38 cation for such participation with the retirement system of which such 39 person is a member, provided he or she is such an investigator member OD: 40 the date such application is filed. 41 3. Any election to be a participant in the twenty year retirement 42 program shall be irrevocable. 43 4. Where any participant in the twenty year retirement program shall 44 cease to be employed as an investigator member, he or she shall cease to 45 be such a participant and, during any period in which such person is not 46 so employed, he or she shall not be a participant in the twenty year 47 retirement program and shall not be eligible...

Examples of Twenty year retirement program in a sentence

  • The administrative code of the city of New York is amended 2 by adding a new section 13-157.4 to read as follows: 3 § 13-157.4 Twenty year retirement program for investigator members.

Related to Twenty year retirement program

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

  • 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.

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

  • 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.

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

  • 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.

  • Postponed Retirement Date means the first day of the month coincident with or next following a Participant’s date of actual retirement which occurs after his Normal Retirement Date.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

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

  • 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).

  • Disability retirement for plan 1 members, means the period

  • Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • 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.

  • 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.

  • 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)).

  • 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.

  • Late Retirement Date means the first day of the month coinciding with or next following a Participant's actual Retirement Date after having reached his Normal Retirement Date.

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

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

  • Approved Retirement means any voluntary termination of employment that occurs on or after the date on which the sum of your age and years of employment with Deluxe and/or its Affiliates equals at least seventy-five (75) and that is approved by the Compensation Committee of the Board.

  • 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.

  • Severance from Service Date means the earlier of:

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

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

  • Retirement Age means the earlier to occur of: