Early Retirement Eligibility. 16 A unit member is eligible for the Early Retirement Program when the following criteria are met.
Early Retirement Eligibility a. Eligible retirees are those unit members who retire no younger than age 50 with at least 15 years of service to the District. Eligibility for retiree insurance, as specified in Subsection 2, shall be limited to those retirees who were eligible for insurance as active employees. Eligibility under this section ceases upon attainment of age 65.
Early Retirement Eligibility. Upon a teacher’s retirement, the total amount of the School District matching contribution to a teacher’s matching account shall be deducted from any severance under Article XVI Early Retirement Eligibility of the Master Agreement.
Early Retirement Eligibility. Because Leased Employee service counts as Vesting Service, it also counts toward eligibility for early retirement benefits.
Early Retirement Eligibility. Notwithstanding the provisions of Section 2(a), above, to the contrary, in the event the Employee becomes eligible for Early Retirement, as defined in the Xxxxxxxx Corporation Employees’ Pension Plan (or would be eligible for Early Retirement under such plan if the Employee was a participant in such plan or as defined in a subsidiary company’s salaried pension plan in the event the Employee’s pension benefits are received solely from the subsidiary’s plan), the Employee will be deemed to be fully vested in the Units as of the date the Employee is first eligible for Early Retirement. As of such date, the vesting and transfer dates set forth in Section 2(a) shall no longer apply and, instead the following transfer schedule shall apply while the Employee remains continuously employed with the Company or one of the Company’s subsidiaries: Three (3) years from the Effective Date — 50% of the Units Four (4) years from the Effective Date — 75% of the Units Five (5) years from the Effective Date — 100% of the Units To the extent the Employee has not previously received a transfer of the applicable percentage of the shares of Common Stock represented by the Units pursuant to Section 2(a), above, the Employee will then receive a transfer from the Company of the applicable percentage on or before March 15 of the year immediately following the year in which the applicable anniversary date of the Effective Date occurs, with the Company either transferring physical possession of a stock certificate or certificates for shares of Common Stock in an amount equal to the number of shares of Common Stock represented by the Units then becoming transferable pursuant to the above schedule to the Employee or providing for book entry transfer of such shares to the Employee, subject to Sections 6 and 7 below. Notwithstanding the above to the contrary, in the event the Employee incurs a separation from service prior to the complete transfer of shares of Common Stock represented by the Units, the remaining shares that have not yet been transferred shall be transferred to the Employee six (6) months following the Employee’s separation of service; provided, if the Employee directly, indirectly, or otherwise, owns, manages, operates, controls, serves as a consultant to, becomes employed by, participates in, or becomes connected, in any manner, with the ownership, management, operation or control of any business that competes with the Company or any of its affiliates, as determined by th...
Early Retirement Eligibility. The intent of early retirement is to fill the span between “early retirement” and eligibility for Medicare or Social Security. Hence, anyone reaching eligibility for Social Security or Medicare does not also qualify for early retirement.
Early Retirement Eligibility. The following Early Retirement Eligibility changes shall occur for the benefit of the Current Employees Class members: (1) the age 57 and 15 years of service requirement formula established Ordinance No. 84-2011 shall be superseded by the terms of this Agreement; and (2) the age 55 and 25 years of service requirement that existed prior to Ordinance No. 84-2011 shall be reinstated; and (3) the retirement option for those employees who reach age 60 and have at least five years of service that existed prior to Ordinance No. 84-2011 shall be reinstated.
Early Retirement Eligibility. 30 1. The employee must have reached his/her fifty-fifth (55th) birthday prior to the effective date 31 of retirement.
Early Retirement Eligibility. An employee will be eligible for early retirement under the following conditions:
