EARLY RETIREMENT POLICY Sample Clauses

EARLY RETIREMENT POLICY. No employees will be eligible to apply for the early retirement policy after SY 2020-2021 Any certified staff member with twenty (20) years service to the Xxxxxx/Xxxxxx Area School District and who will reach the minimum age of 55 during the calendar year of last service may elect to retire early. Upon such retirement he/she shall be entitled to receive a cash Social Security bridge payment annually commencing July l5 of the year of retirement and continuing annually until and including the calendar year he/she reaches the age of 62. Each payment will be the sum of the factor .l5 times the last annual contract salary exclusive of any extra duty pay. If a certified staff member has 25 years of service to the district, we will increase their factor for early retirement purposes to .2 times the last full-time contract. A certified staff member electing to retire early must notify the Superintendent and/or Board of Education in writing prior to April 16 of the year in which retirement will occur and must submit a copy of his/her birth certificate. In the event the actual staff member dies while all or a part of the Social Security bridge payments remains unpaid, such unpaid amount will be paid to the beneficiary, or to the estate. A full time certified staff member electing retirement under this policy shall be extended the opportunity to participate in the then existing health insurance program at his/her total expense, and providing such notice of intent is submitted to the group underwriter within 60 days of the elected early retirement date. This opportunity for coverage will be provided until eligible for Medicare. Any full time certified staff member with twenty (20) years service to the Xxxxxx/Xxxxxx Area School District as of 5-l-92 may elect the above Early Retirement Policy provisions or he/she may elect the Early Retirement Policy provision in effect immediately preceding this adoption and dated 6-l0-9l. If a full time certified staff member who has at least 15 years of full-time employment with the district is reduced to part-time at the request of the district, that certified staff member will continue to receive full-time benefits, including health insurance. Early retirement for people who have been reduced by the district from full-time to part-time will be based on their last full-time salary or part-time, whichever is higher.
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EARLY RETIREMENT POLICY. Section 1.
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EARLY RETIREMENT POLICY. 28.1 The Employer reserves the right to establish, revise or discontinue its early retirement policy without negotiations with the Federation. It is understood that any retirement policy established or revised by the Employer shall apply equally to all employees of the College. Adjunct faculty are not eligible to apply for early retirement.
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EARLY RETIREMENT POLICY. 1. Any teacher of the Sioux Valley School District who finds it necessary or desirable to retire from employment with the District may elect to take retirement under the terms and conditions set forth in this policy. Retirement is entirely voluntary and at the discretion of an eligible employee. Such retirement must occur at the end of the contract term and may not commence during the term.
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EARLY RETIREMENT POLICY. Any teacher may elect benefits under this provision under the terms and conditions as set forth below:
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EARLY RETIREMENT POLICY. Employees of the Xxxxxxx County School District who find it necessary or desirable to retire early from employment with the District may elect to take early retirement under the terms and conditions set forth in this policy. Early retirement is entirely voluntary and at the discretion of an eligible employee. Eligibility -- An employee is eligible for early retirement if such employee:
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EARLY RETIREMENT POLICY. 11.1 Upon reaching age 55, all tenured teachers with a minimum of fifteen (15) years of teaching experience at Xxxxxxxx-Xxxxxx Community High School #157 will be eligible to apply under the Xxxxxxxx-
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EARLY RETIREMENT POLICY. The Early Retirement Policy is hereby discontinued at the conclusion of the 2016-2017 school year, with the following exceptions:
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Related to EARLY RETIREMENT POLICY

  • 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.

  • 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 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:

  • Enhanced Early Retirement 26.11.1 Employees engaged prior to 1 May 1994 are eligible if they are within 10 years of the age of eligibility for government superannuation and have a minimum of ten years' total aggregated service with the employer, with one or more other DHBs, and with one or more of the following services:

  • 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.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • 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.

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