Deferred Vacation for Early Retirement Sample Clauses

Deferred Vacation for Early Retirement. In the five years before expected retirement, a Regular employee with twelve (12) or more years service, shall be allowed vacation carryover for early retirement. Any vacation entitlement in excess of ten (10) days may be carried over for early retirement. On taking early retirement vacation the employee shall receive continuous pay cheques and full employee benefits. Official retirement day for the purposes of pension and termination shall be on exhausting the deferred vacation. Current year vacation entitlement for the year the employee retires can either be taken as vacation or paid out. Employees shall have the option.
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Deferred Vacation for Early Retirement. In the FIVE (5) years before expected retirement, a Regular Full-time and Regular Part-time employee with TWELVE (12) or more years’ service, shall be allowed vacation carryover for early retirement. Any vacation entitlement in excess of TEN (10) days may be carried over for early retirement. On taking early retirement vacation the employee shall receive continuous pay cheques and full employee benefits. Official retirement day for the purposes of pension and termination shall be on exhausting the deferred vacation. Current year vacation entitlement for the year the Deferred Vacation for Early Retirement - continued employee retires can either be taken as vacation or paid out. Employees shall have the option.
Sample 1
Deferred Vacation for Early Retirement. In the five years before expected retirement, a Regular employee with TWELVE (12) or more years service, shall be allowed vacation carryover for early retirement.
Sample 1

Related to Deferred Vacation for Early Retirement

  • Benefits for Early Retirees The Hospital will provide to all employees who retire and have not yet reached age sixty-five (65) and who are in receipt of the Hospital’s pension plan benefits, semi-private, extended health care and dental benefits on the same basis as is provided to active employees, as long as the retiree pays the Employer the full amount of the monthly premiums in advance.

  • 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.

  • Normal Retirement Unless Separation from Service or a Change in Control occurs before Normal Retirement Age, when the Executive attains Normal Retirement Age the Bank shall pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this Agreement terminates under Article 5, no further benefits shall be paid.

  • 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.

  • EARLY RETIREMENT INCENTIVE PLAN 1. The Board will pay an allowance to continuing contract teachers who retire from teaching in the District under the Teachers' Pension Plan, before reaching age sixty (60), subject to the following conditions: The teacher must:

  • Normal Retirement Date The date on which the Executive attains age sixty-five (65).

  • 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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