Voluntary Phased Retirement Plan definition

Voluntary Phased Retirement Plan means the voluntary program providing tenured faculty at the University with a gradual transition to a date certain work retirement as described in SECTION 5.2(g). For further details, please see Section 17 of the Collective Bargaining Agreement by and between the University and the American Association of University Professors – Faculty Association at St. John’s University (the “AAUP-FA”), effective as of July 1, 2007.
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Examples of Voluntary Phased Retirement Plan in a sentence

  • The Voluntary Phased Retirement Plan is effective as of June 1, 2008.

  • Tenured faculty members who are not actively serving in a faculty position as of the Commencement Date (e.g., faculty members who serve in an administrative position or as a department chairperson, unless he or she steps down from the chair position) will not be eligible to participate in the Voluntary Phased Retirement Plan.

  • Eligible faculty members must make an election to participate in the Voluntary Phased Retirement Plan by June 30 preceding the fall semester when the phased retirement commences, or September 30 if the phased retirement will commence in the spring semester.

  • A full-time faculty member is eligible to participate in the Voluntary Phased Retirement Plan if, as of the Commencement Date, he or she is actively serving in a faculty position and is at least 62 years of age with 10 or more years of service to the University.

  • For purposes of applying paragraph (a) above, the Voluntary Phased Retirement Plan shall be administered in accordance with the description in this paragraph (g), subject to the rules set forth under Section 17 of the Collective BargainingAgreement by and between University and the AAUP-FA, effective as of July 1, 2007.

  • Dean’s Signature Date I certify that the applicant is eligible for the Voluntary Phased Retirement Plan.

  • Individuals who are considering the Voluntary Phased Retirement Plan should make an appointment with their designated Human Resources Manager in Human Resources Development (HRD) to discuss the Plan’s impact on their benefits.

  • Faculty members who are approved to participate in the Voluntary Phased Retirement Plan may access their TIAA-CREF Retirement Annuity (RA) while they are still working, subject to the terms of the Funding Vehicle (for more information, please contact HRD).

  • Their political behaviour, domestic political stability and international relations are envisaged to have no practical bearing on global or regional politics and governance.

  • To be eligible for the Voluntary Phased Retirement Plan (the “Plan”), the faculty member must, at the time of making an application, be employed as a regular, full-time faculty member at the University of Hartford.

Related to Voluntary Phased Retirement Plan

  • 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.

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

  • 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.

  • 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.

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

  • 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.

  • 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.

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

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

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

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

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • 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.

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • 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:

  • Public employees retirement system means the retirement plan and program

  • Severance from Service Date means the earlier of:

  • Disability retirement for plan 1 members, means the period

  • 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.

  • 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.

  • 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.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Post-Employment Period is defined in Section 8.2.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;