Deferred Vested Sample Clauses

Deferred Vested. Employees who do not retire, but take a deferred vested retirement allowance are not eligible to receive health care coverage. Medicare: Retirees are required to have both Medicare Part A and Part B at the time they reach Medicare eligibility. Failure to elect such coverage will result in no coverage by the City plan. The Medicare Part B premium remains the responsibility of the retiree. If the retiree has not earned enough credit to qualify for unpaid Medicare Part A, or does not otherwise qualify for such coverage through their spouse, the retiree will continue with regular PPO Plan coverage.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Deferred Vested. Any age – at least 5 years of continuous service – continuous service broken for any reason and not eligible for other pension. Each type of retirement is described in more detail under “Eligibility and Amount of Pension” beginning on page 23.
Sample 1

Related to Deferred Vested

  • Deferred Earnings The manner in which the deferred salary is held shall be at the discretion of the Hospital. The employee will be made aware, in advance of having to sign any formal agreement, of the manner of holding such deferred salary. Interest which is accumulated during each year of the deferral period shall be paid out to the employee in accordance with Part LXVIII of the Income Tax Regulations, Section 6801.

  • Deferred Retirement a. An employee who, upon separation from County service, is eligible for paid retirement and elects deferred retirement must defer participation in the Grant until such time as he or she becomes an active retiree.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Non-Retirement Savings Accounts An account maintained in the Cayman Islands (other than an insurance or Annuity Contract) that satisfies the following requirements under the laws of the Cayman Islands.

  • Deferred Salary Leave Plan 1. The Board shall administer a Deferred Salary Leave Plan as determined by a separate agreement.

  • Tax Deferred Annuities The Board of Directors for the District shall provide and pay for such tax deferred annuities pursuant to RCW 28A.400.250 as the union shall request and the Board of Directors shall authorize. Payment for said annuities shall be at the option of the employee and deducted from the monthly salary as authorized by the individual employee.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Deferred Salary Leave Each employer ratifying this Agreement will establish or, as necessary, review and update a deferred salary leave plan consistent with Regulations issued by Canada Revenue Agency under the Income Tax Act. The parties may use the Application, Agreement, and Approval Form as a template (see Appendix H) for the deferred salary leave plan.

  • Deferred Salary Scheme Employees may apply to have their salary payments deferred in accordance with the provisions of this clause.

Time is Money Join Law Insider Premium to draft better contracts faster.