Regular Retirement. Any full-time member of the unit, plus his/her dependent(s) who receives the District-provided health insurance plan (Section 7.3 and Section 7.14) will also receive said benefit as provided to current active employees after retirement. Retirees may continue to receive dental and vision benefits (Section 7.4) at their own cost in accordance with federal and state regulations in effect at the time. In order to qualify for these retirement benefits described in this section, unit members must have first met the following conditions:
Regular Retirement. All employees shall be retired from the service of the Employer at the end of the calendar month in which the said employee attains their sixty-fifth (65th) birthday.
Regular Retirement. 12.03.1 Employees shall provide at least twelve (12) months written notice to the Vice- President (Academic and Research) of their intention to retire in order to facilitate proper academic planning. The Employer shall respond to the Employee in writing, with a copy to the Union, no later than one (1) month following receipt of notice. The effective date of retirement shall normally be either December 31 or June 30.
Regular Retirement. Pension options shall be consistent with the criteria as specified in the OMERS plan at the time the employee elects to retire. Currently, Societies are not obligated to provide extended health benefits (including Life Insurance, Accidental Death and Dismemberment Insurance, Long Term Disability Insurance, Health and Dental Insurance) beyond age 65.
Regular Retirement. Pension options shall be consistent with the criteria as specified in the OMERS plan at the time the employee elects to retire.
Regular Retirement. 1 Upon reaching the reference age, members shall be entitled to a lifelong retirement pension. The full pension entitlement also arises where members choose to keep up their employment either fully or partially.
Regular Retirement a. Qualifications for represented employee coverage are: The employee has attained age 55; and The employee has completed twenty (20) years of continuous full-time service from latest date of hire.
Regular Retirement. Educators who choose regular retirement at age 65 or older with 10 or more years of DCC service may elect to continue in the College's Health Insurance program. Those who elect to continue in the College’s health plan will share the costs of the insurance. The College will pay 70 percent of individual coverage or 55 percent of family coverage. Upon the death of an educator who has retired, health insurance will continue to be fully paid for the surviving spouse and dependent children for three full calendar months. At the end of the three months, the otherwise eligible surviving spouse and dependent children will have the option of continuing in the College health plan. Those electing to do so will be required to pay 100% of the monthly premium. An administrative fee of up to 10% of the premium may be charged as deemed necessary by the College. Educators who choose regular retirement are encouraged to give one semester notice to the College. Retirees shall be entitled to participate in the same health insurance plan(s) offered to active employees. The College agrees to reimburse Medicare eligible employees and their spouses for Medicare Part B expenses up to the listed base rate. This benefit shall be based upon the retiree reaching Medicare eligibility.
Regular Retirement. An eligible employee who shall retire on or after his Regular Retirement Age, except an employee receiving a total and permanent Disability Pension, who shall retire automatically upon attainment of his Regular Retirement Age, shall receive:
Regular Retirement. All Fire Department employees shall join Act 345 Marquette City Pension System in accordance with the rules and regulations adopted by the City Commission concerning such matters. Effective upon signing of contract, straight life pension equals 3.0% of three (3) year average final compensation times the first 25 years of service plus 1% times years of service in excess of 25 years. The employee’s contribution shall be 5%. To help fund the increase in the multiplier, the bargaining unit has agreed to the following:
