Pension Payable on Normal Retirement Sample Clauses

Pension Payable on Normal Retirement. The amount of basic pension benefits payable for an employee who has reached normal retirement date shall be the amount as provided in Section 2, above, plus a basic pension benefit of $9.00 per month per full year of future credited service or proportionate credit to the nearest one-tenth (1/10) of a year as outlined in Section 5. The pension benefit is $9.00 per month for each year of credited service after January 1, 1975 and the pension benefits accrued to each member prior to January 1, 1975, remain unchanged. The pension benefit is:
Sample 1
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Pension Payable on Normal Retirement. The amount of basic pension benefits payable for an employee who has reached normal retirement date shall be the amount as provided in Section Two (2) plus a basic pension benefit calculated in accordance with the following schedule. Period of Credited Service or Proportionate Credit to the nearest one-tenth (1/I0th) of a year as outlined in Section Five (5) January 1, 1974 to December 31, 1979 January 1, 1980 to December 31.1960 January 1, 1961 to December 31; 1981 January 1, 1982 to December 31, 1982 January 1, 1983 to December 31, 1983 January 1, 1984 to December 31, 1984 January 1, 1985 to December 31, 1985 January 1, 1986 to December 31, 1986 January 1, 1987 to December 31, 1987 January 1, 1988 to December 31, 1988 January 1, 1989 to December 3 1, 1989 January 1, 1990 to December 31. 1990 January 1, 1991 to December 31; 1991 January 1, 1992 to December 31, 1992 January 1, 1993 to December 31, 1993 January 1, 1994 to December 31, 1994 January I, 1995 to December 31, 1995 January 1, 1996 to December 31,1996 January 1, 1997 to December 31, 1997 January 1, 1998 to December 31, 1998 January I, 1999 and on
Sample 1

Related to Pension Payable on Normal Retirement

  • 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).

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

  • Vacation Pay on Retirement Termination is as follows:

  • 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.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Benefits on Early Retirement The Hospital will provide equivalent coverage to all employees who retire early and have not yet reached age 65 and who are in receipt of the Hospital’s pension plan benefits on the same basis as is provided to active employees for semi-private, extended health care and dental benefits. The Hospital will contribute the same portion towards the billed premiums of these benefits plans as is currently contributed by the Hospital to the billed premiums of active employees.

  • 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.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Life Insurance Upon Retirement 34.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00, payable to his estate upon his death.

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