Retirement Income Benefits Sample Clauses

Retirement Income Benefits. Employees will be provided retirement benefits through the Xxxxxx Permanente Northwest Pension Plan (KPNPP), a defined benefit plan, and/or the Oregon Federation of Nurses and Health Professionals - Xxxxxx Foundation Health Plan Retirement Plan and Trust (OFNHP- KFHP RP&T), a defined contribution plan, as follows:
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Retirement Income Benefits. 24.01 The parties to this Agreement agree that there will be no change, suspension or discontinuance of the Retirement Income program, as summarized, herein, until August 31, 2014, except through mutual agreement by the parties to this Agreement or through Government legislation. If, at any time, it shall be necessary or appropriate to make any revision in the Retirement Income Plan (1981) (the "Plan") to obtain or retain any acceptance or approval by tax authorities or to comply with any applicable law, either party may negotiate appropriate adjustments, providing however that the pension benefits accrued pursuant to this Agreement prior to the date of adjustment are not reduced.
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Retirement Income Benefits. Major improvements to GE Pension Plan The contract incorporates major improvements to the GE Pension Plan, helping to ensure that eligible employees continue to be well-positioned for retirement. Reduced employee Pension contributions that increase take home pay by up to $600 a year Renewed and improved supplements bridge you to Social Security providing up to $48,530 for a 30-year employee who retires under the contract A one-time update that raises the Regular Pension for eligible long-service union employees by an average of 15.9% Improvements of up to 6.25% in the Guaranteed Pension table Guaranteed Pension benefits go up across the board The Guaranteed Pension is improving, with monthly benefits going up across the board by $1 per year of Pension Benefit Service (PBS). The top benefit increases even more, jumping to $85 per year of PBS for those with final average pay of at least $86,000 —an improvement of 6.25% from the current $80. These changes will be effective July 1, 2015. Increases in Regular Pension for many long-service employees A sizable one-time update will increase the average Regular Pension of long- service union employees by 15.9%. The update calculates a benefit under an alternate formula that is based on your PBS and your three highest consecutive years pay (including overtime) during the years 2009 through 2014. Regular or Guaranteed Pension: You get the greater amount The GE Pension Plan uses two formulas to calculate benefits: The Regular Pension and the Guaranteed Pension. Both consider your pay and service, and when you retire, you’ll receive the one that pays the higher amount. Significant improvements to both will help ensure that the plan continues to provide targeted levels of replacement income. If the alternate amount is greater than the Regular Pension you have already earned, your Regular Pension will be increased to the higher level. This updates your benefit to more closely reflect your current pay, helping to ensure the plan continues to provide targeted levels of replacement income. Regular Pension formula also improved Under the Regular Pension, you earn a benefit each year that’s equal to 1.45% of your pay up to a certain amount (called the breakpoint) plus 1.9% of your pay over the breakpoint. That year’s benefit is added to what you’ve earned in previous years to determine your total Regular Pension benefit at retirement. The breakpoint in the formula was scheduled to increase, to about $58,000 in 2016, and conti...
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Retirement Income Benefits. 5 (a) Eligibility to Participate (b) Normal Retirement (c)
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Retirement Income Benefits. (a) NORMAL RETIREMENT A Participant who retires on his/her Normal Retirement Date shall he entitled to a Retirement Income Benefit in the form of a monthly benefit, payable for one hundred eighty (180) months, commencing at Normal Retirement Date payable to the Participant or his/her Beneficiary equal to:
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Retirement Income Benefits. In addition to the foregoing, if the Executive survives for two (2) years following such termination or Constructive Termination of employment:
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Retirement Income Benefits 
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Related to Retirement Income Benefits

  • Employee Retirement Income Security Act of 1974 (a) Section 3.12(a) of the Disclosure Schedule sets forth a list of all Plans and Benefit Arrangements maintained by the Company and any of its Subsidiaries (which for purposes of this Section 3.12 will include any ERISA Affiliate with respect to any Plan subject to Title IV of ERISA). As to all such Plans and Benefit Arrangements, and except as disclosed in such Section 3.12(a) of the Disclosure Schedule:

  • Employee Benefits; ERISA (a) Schedule 4.17 contains a true and complete list of each material bonus, deferred compensation, incentive compensation, stock purchase, stock option, severance, change-in-control, or termination pay, hospitalization or other medical, life or other insurance, supplemental unemployment benefits, profit sharing, pension, or retirement plan, program, agreement or arrangement, and each other material employee benefit plan, program, agreement or arrangement, sponsored, maintained or contributed to or required to be contributed to by any Conveyed Entity, any Subsidiary thereof or by any trade or business, whether or not incorporated (an "ERISA Affiliate"), that together with any Conveyed Entity would be deemed a "single employer" within the meaning of Section 4001(b)(1) of ERISA, for the benefit of any employee or former employee of any Conveyed Entity, Subsidiary thereof or any ERISA Affiliate (the "Plans"). Schedule 4.17 identifies each of the Plans that is an "employee welfare benefit plan," or "employee pension benefit plan" as such terms are defined in Sections 3(1) and 3(2) of ERISA (such plans being hereinafter referred to collectively as the "ERISA Plans"). No Conveyed Entity, Subsidiary thereof or any ERISA Affiliate has any formal plan or commitment, whether legally binding or not, to create any additional Plan or modify or change any existing Plan that would affect any employee or former employee of any Conveyed Entity, any Subsidiary thereof or any ERISA Affiliate except to the extent that any such creation, modification or change could not, individually or in the aggregate, reasonably be expected to result in a material liability of a Conveyed Entity or any of its Subsidiaries.

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • Retiree Benefits Employees retiring on or after January 1, 2006 will be eligible for retiree benefits as presented to the Union Negotiation Committee during discussions for renewal of the Collective Agreements that expired December 31, 2002.

  • Retirement and Welfare Benefits During the Term, the Executive shall be eligible to participate in the Company’s health, life insurance, long-term disability, retirement and welfare benefit plans, and programs available to similarly-situated employees of the Company, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate (as defined below) of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.

  • Additional Employee Benefits Sec. 2201

  • Retirement, Welfare and Fringe Benefits During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in effect from time to time.

  • Health Benefits The method for determining the Employer bi-weekly contributions to the cost of employee health insurance programs under the Federal Employees Health Benefits Program (FEHBP) will be as follows:

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

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