Voluntary Separation Program definition

Voluntary Separation Program means a program of limited time duration under which an eligible employee is permitted to voluntarily separate from employment with the Company, thereby receiving certain associated benefits, including participation in this Plan. In the absolute discretion of the Company, employees in certain job groups, job descriptions or job categories may not be considered eligible to request participation in the Voluntary Separation Program. Even for employees eligible to participate in the Voluntary Separation Program, their actual participation is not guaranteed and the Company may deny an eligible employee's request for participation, in its absolute discretion.
View Source
Voluntary Separation Program. A negotiated agreement between the Aurora Board of Education and the Aurora Education Association has established a Voluntary Separation Program for the teachers of the Aurora Public Schools. This Program is available only to certified employees of the Aurora Public Schools, which is defined as any certified employee who is regularly employed for the instruction of pupils in the Aurora Public Schools, hereinafter referred to as “Employee”. This Program amends, replaces in its entirety, and supersedes any previous policy or agreement by the Aurora Board of Education and the Aurora Education Association. The administrators of the Aurora Public Schools are specifically not covered by this Program. Administrator means any certified employee such as superintendent, assistant superintendent, principal, assistant principal, school nurse or other supervisory or administrative personnel who do not have as a primary duty the instruction of pupils in the Aurora Public Schools. The Aurora Public School District has established an Early Retirement Program (hereinafter referred to as the “Program”) for the purpose of encouraging eligible employees who are considering an early leaving decision to accelerate their retirement plans. The Program shall be a voluntary program for the eligible employees of the District. The Program will be paid to Employees in direct ratio of each annual full time equivalency (FTE) during the tenure of the eligible employee. In addition to other requirements for eligibility, as outlined in this Program, the Employee must have completed fifteen (15) years of credited service in the employment of the Aurora Public School District. The employee must be currently employed to be eligible for the Early Retirement Program benefits as outlined by Nebraska Retirement System’s Rule of 85. Credited Service for retirement computations shall mean continuous employment as a certificated employee of the Aurora Public Schools.
View Source
Voluntary Separation Program means a program of limited time duration under which an Eligible Management Employee is permitted to voluntarily separate from employment with the Employer, thereby receiving certain associated benefits, including eligibility to participate in this Plan. In the Employer’s sole and absolute discretion, Eligible Management Employees in certain job groups, job descriptions or job categories may not be considered eligible to request participation in the Voluntary Separation Program. Even for Eligible Management Employees eligible to participate in the Voluntary Separation Program, their actual participation is not guaranteed and the Employer may, in its sole and absolute discretion, deny an Eligible Management Employee’s request for participation.
View Source

Examples of Voluntary Separation Program in a sentence

  • Employees accepted for participation in the Voluntary Separation Program are ineligible for further matching County contributions under this plan.

  • The Union and the Employer recognize the continuing need to address the State's fiscal condition, and to that end agree that the State may implement a Voluntary Separation Program (VSP).

  • AFSCME and the Employer recognize the continuing need to address the State's fiscal condition, and to that end agree that the State may implement a Voluntary Separation Program (VSP) consistent with the criteria outlined in the attached Exhibit A.

  • Employees must be actively at work to be considered for the Voluntary Separation Program.

  • The Company may also offer a Voluntary Separation Program (VSP) as part of an approved Workforce Restructuring Plan.

  • The Board shall have the discretion to defer payments made for the Voluntary Separation Program.

  • Voluntary Separation Program: A negotiated agreement between the Aurora Board of Education and the Aurora Education Association has established a Voluntary Separation Program for the teachers of the Aurora Public Schools.

  • The Company may develop and initiate a Voluntary Separation Program (VSP) at any time during the term of this Agreement.

  • This Agreement is made pursuant to policy 4070-Early Voluntary Separation Program of the Board of Education.

  • The Company will provide a lump sum payment to MRO’s at the grandfathered rate (including Restricted Operators) who do not apply for the Voluntary Separation Program (“VSP”) at Stage 1 AND who do not apply for any PA2 vacancies that are created through the implementation of the VSP-Stage.

Related to Voluntary Separation Program

  • Retirement program means a program of rights and obligations which a county, city, village, or township establishes, maintains, or participates in and which, by its express terms or as a result of surrounding circumstances, does 1 or more of the following:

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.