Retirement Provisions. Retirement benefit formulas and contribution rates for State employees are specified in the Government Code as summarized below. No provision of this article shall be deemed grievable or arbitrable under the grievance and arbitration procedure, except any claim of clerical error concerning an employee’s retirement benefit shall be grievable up to XxxXX’s level.
Retirement Provisions. The provisions of this Section 2(h) shall apply to any Employee who satisfies the following requirements on the Grant Date: (I) the Employee has reached sixty (60) years of age, and (II) the Employee has completed at least ten (10) years of service as an employee of the Company. If an Employee does not satisfy the requirements in the preceding sentence on the Grant Date but subsequently satisfies those requirements during the term of this Agreement, then the provisions of this Section 2(h) shall apply to such Employee on a prospective basis:
Retirement Provisions. 24.1. The OMERS plan shall be administered in accordance with OMERS Regulations. (1999)
Retirement Provisions. 8.1 Second Tier Retirement Plan 73 8.2 Sick Leave Credit Upon Retirement 74 8.3 Survivors' Benefits 75 8.4 Tax Treatment of Employee Retirement Contributions 75 8.5 Items Excluded from Compensation for Retirement Purposes 77
Retirement Provisions. (a) You will be a participant in the GPUS Employee Pension Plan and the GPUS Supplemental and Excess Benefits Plan (the "Retirement Plans") and, by reason of the services rendered by you in accordance with this Agreement, you will accrue benefits, commencing as of January 1, 1990, in accordance with the terms of such Retirement Plans, as the Retirement Plans may be in effect from time to time.
Retirement Provisions. 8.1 Second Tier Retirement Plan. 67 8.2 Sick Leave Credit Upon Retirement. 67 8.3 Survivors' Benefits. 68 8.4 Employer-Paid Retirement Contributions ...................................................................68 8.5 Items Excluded From Compensation for Retirement Purposes .............................70 8.6 First Tier Retirement Formula (2% @ 55) ..................................................................70 8.7 Safety Member Retirement Formula (2.5% @ 55) ...................................................71 8.8 Safety Retirement - Department of Developmental Services ................................71
Retirement Provisions. 1. The District has established an IRC Section 115 Trust for all end-of-career staff members in this Agreement. The Trust has been established for both employer contribution and employee compensation deferral. The employee deferral is for any compensation that would exceed the End-of-Career State Retirement Cap.
Retirement Provisions. 1. 401 (a) The Board shall make a single contribution of $1650 to a 401 (a) plan for any unit member hired after June 30, 2004 at the end of the eligible teacher’s third year of service to RCSC. The contribution and interest will vest upon completing ten (10) years of service to RCSC and meeting the requirements for unreduced retirement with the Indiana Teacher Retirement Fund. Unvested funds and accumulated interest from those unvested funds shall be appropriately reserved to fund newly eligible unit members upon entry into the plan.
Retirement Provisions. 23 76. As specified in this Agreement, Class Members (other than those in Group five) 24 are eligible for PERS contributions based on retroactive PERS-eligible service.
Retirement Provisions. Full-time employees with ten (10) years or more of service, or full-time employees and full-time/short-year employees who have worked the equivalent of ten (10) years or more of full-time service, and who are eligible to retire under SURS between January 1, 2017, and December 31, 2020, will receive a retirement payment based upon the following formula: (base pay at time of notice x .00375 x years of service at Oakton Community College). In addition, an eligible retiree may receive payment for retirement vacation days. Retirement vacation days are added to the total accumulated vacation hours on the employee’s last day at work and paid out as part of the vacation day pay out. Retirement vacation days are calculated by the following formula: (total accumulated sick time divided by 8 divided by 10). The lump sum payment will be made within 60 days following the effective date of retirement. A break in service or unpaid leave of three
