Corrections Early Retirement Incentive Sample Clauses

Corrections Early Retirement Incentive. Please refer to Article 23, Corrections Early Retirement Incentive.
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Corrections Early Retirement Incentive a. Any supervisor who attains the age of fifty-five (55) after the effective date and before the expiration date of the contract and who is covered by the Correctional Early Retirement Plan may opt during the pay period in which his/her fifty-fifth (55th) birthday occurs to take advantage of the early retirement incentive. Supervisors exercising this option must be eligible for insurance coverage under the provisions of this Article and shall be provided with health and dental insurance which the supervisor was entitled to at the time of retirement, subject to any changes in coverage in accordance with this or any subsequent Agreement. Supervisors eligible to receive an Employer Contribution for medical and dental coverage immediately prior to taking advantage of the early retirement incentive shall continue to receive an Employer Contribution as set forth below for themselves and their enrolled dependents until the supervisor attains the age of sixty-five (65). A supervisor who retires with no Employer Contribution for dependent coverage or who terminates dependent coverage following retirement, shall not subsequently be eligible for a contribution for dependent coverage. Receipt of early retirement insurance benefits is contingent upon completion of all the required forms and continued payment of the required premium.
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Corrections Early Retirement Incentive. Please refer to Article 23, Correctional Employees Retirement Plan.
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Corrections Early Retirement Incentive a. Effective October 24, 2007, any supervisor who attains the age of fifty-five (55) and is covered by the Correctional Early Retirement Plan may opt during the pay period of their fifty-fifth (55th) birthday or any pay period thereafter to take advantage of the early retirement incentive. Any supervisor covered by the Correctional Early Retirement Plan who retires prior to October 24, 2007 may take advantage of the early retirement incentive provided such supervisor retires in the pay period in which he/she attains the age of fifty-five (55). A supervisor attaining the age of fifty-five (55) prior to October 24, 2007 and who elected not to retire during the pay period in which they turned fifty-five (55) are no longer eligible for this benefit. Supervisors exercising this option must be eligible for insurance coverage under the provisions of this Article and shall be provided with health and dental insurance which the supervisor was entitled to at the time of retirement, subject to any changes in coverage in accordance with this or any subsequent Agreement. Supervisors eligible to receive an Employer Contribution for medical and dental coverage immediately prior to taking advantage of the early retirement incentive shall continue to receive an Employer Contribution as set forth below for themselves and their enrolled dependents until the supervisor attains the age of sixty-five (65). A supervisor who retires with no Employer Contribution for dependent coverage or who terminates dependent coverage following retirement, shall not subsequently be eligible for a contribution for dependent coverage. Receipt of early retirement insurance benefits is contingent upon completion of all the required forms and continued payment of the required premium.
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Corrections Early Retirement Incentive. Any nurse who attains the age of fifty five (55) after August 23, 2007 and before the expiration date of the contract and who, in the preceding three (3) years from their fifty-fifth (55th) birthday, was in a classification covered by the Correctional Early Retirement Plan may opt on or after the pay period in which his/her fifty-fifth (55th) birthday occurs to take advantage of the early retirement incentive. However, nurses age fifty-five (55) and over who previously declined this benefit are not eligible. These nurses shall receive the employer paid portion of medical and dental insurance premiums paid by the employer in the pay period on or after their (55th) birthday for themselves and their dependents until the nurse attains the age of sixty-five (65). The monthly employer paid portion of the premium shall not increase by more than one hundred dollars ($100) above the monthly amount paid by the employer in the pay-period on or after their fifty-fifth (55th) birthday over the period the nurse is receiving the Corrections Early Retirement Incentive. Nurses exercising this option must be eligible for insurance coverage under the provision of this Article and shall be provided with health and dental insurance coverage which the nurse was entitled to at the time of retirement, subject to any changes in coverage in accordance with this or any subsequent agreement. Nurses eligible to receive an Employer Contribution for medical and dental coverage immediately prior to taking advantage of the early retirement incentive shall continue to receive an Employer Contribution as set forth below for themselves and their enrolled dependents until the nurse attains the age of sixty-five (65). A nurse who retires with no Employer Contribution for dependent coverage or who terminates dependent coverage following retirement, shall not subsequently be eligible for a contribution for dependent coverage. Receipt of early retirement insurance benefits is contingent upon completion of all the required forms and continued payment of the required premium. Any nurse who attains the age of fifty (50) after the effective date and before the expiration date of the contract and who is covered by the Correctional Pre-Fifty-five (55) Early Retirement Plan may opt during any pay period between that in which his/her fiftieth (50) birthday occurs through the pay period in which his/her fifty-fifth (55th) birthday occurs, to take advantage of the pre-fifty-five (55) early retirement incen...
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Corrections Early Retirement Incentive. Please refer to Article 22.
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Corrections Early Retirement Incentive 
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Related to Corrections Early Retirement Incentive

  • Early Retirement Incentive The Employer may offer to any faculty member or a faculty member may apply for one of the early retirement incentive alternatives described herein, provided the faculty member meets the following criteria. The Union shall be advised in writing of any offer of early retirement made to a faculty member.

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement at the beginning of the following school year. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year of the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the year of submission, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the year of submission. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly.

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

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