Common use of Early Retirement Incentive Clause in Contracts

Early Retirement Incentive. The purpose of the early retirement incentive plan is to provide an incentive for early retirement under the pre-layoff canvass outlined in Clause 36.1 where the retirement of an employee will prevent a layoff. While the clause is permissive in that individual implementation and approval is at the discretion of OC, there may be instances where a layoff has not been identified and there would be a benefit to the institution and the employee. In these instances OC would be prepared to review the request.

Early Retirement Incentive. The purpose of the early retirement incentive plan is to provide an incentive for early retirement under the pre-layoff canvass outlined in Clause 36.1 where the retirement of an employee will prevent a layoff. While the clause is permissive in that individual implementation and approval is at the discretion of OCthe University, there may be instances where a layoff has not been identified and there would be a benefit to the institution and the employee. In these instances OC the University would be prepared to review the request.